Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Q based on statistics: The life length X of an electronic component follows an exponential distribution. There are 2 processes by the component may be

Q based on statistics:

The life length X of an electronic component follows an exponential distribution. There are 2 processes by the component may be manufactured. The expected life length of the component is 100h if the process I is used to manufacture, while it is 150h if the process II is used. The cost of manufacturing a single component by process I is 10,whileits20 for process II. Moreover if the component last less than the guaranteed life of 200h, a loss of 50$ is to be borne by the manufacturer. Which process is advantageous to the manufacturer?

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

WebAssign For College Algebra Concepts And Contexts

Authors: James Stewart

1st Edition

1337772275, 9781337772273

More Books

Students also viewed these Mathematics questions

Question

What are constellations?

Answered: 1 week ago

Question

2. The purpose of the acquisition of the information.

Answered: 1 week ago

Question

1. What is the meaning of the information we are collecting?

Answered: 1 week ago

Question

3. How much information do we need to collect?

Answered: 1 week ago