*19. The lifetime of a car has a distribution H and probability density h. Ms. Jones buys...
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*19. The lifetime of a car has a distribution H and probability density h.
Ms. Jones buys a new car as soon as her old car either breaks down or reaches the age of Ô years. A new car costs Cx dollars and an additional cost of C2 dollars is incurred whenever a car breaks down. Assuming that a
Ã-year-old car in working order has an expected resale value R(T)9 what is Ms. Jones' long-run average cost?
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