Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please part c An office machine costs $10,000 to replace unless a mysterious, hard-to-find problem can be found and fixed. Repair calls from any service

please part c

image text in transcribed
An office machine costs $10,000 to replace unless a mysterious, hard-to-find problem can be found and fixed. Repair calls from any service technician cost $500 each, and $2,000 is available to get this machine fixed. A repair technician has a 26% chance of fixing it. Complete parts (a) through (c) below. (a) Create a probability model for the number of visits needed to fix the machine or exhaust the budget of $2,000. (That is, there can be at most four visits.) p(X = 1) = 0.26 p(X = 2) = 0.1924 p(X = 3) = 0.1424 p(X =4) = 0.1054 p(X 25) = 0.2998 (Round to four decimal places as needed.) (b) Find the expected number of service technicians that will be called in. The expected number of technicians is 1.49 technicians. (Round to two decimal places as needed.) (c) Find the expected amount spent on this machine. ($10,000 must be spent for a new one if a vendor does not repair the machine.) The expected amount spent on this machine is $ (Round to the nearest cent as needed.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Discrete Mathematics With Applications

Authors: Susanna S Epp

5th Edition

0357035283, 9780357035283

More Books

Students also viewed these Mathematics questions