Question

A factory manager is considering whether to replace a machine by analyzing its breakdown patterns and...

A factory manager is considering whether to replace a machine by analyzing its breakdown patterns and costs. Past records show the probability distribution of breakdowns in a week as:

Number of breakdowns

0

1

2

3

4

Probability

0.1

0.26

0.42

0.16

0.06

  1. (a) Find the mean and standard deviation of the number of weekly breakdowns.

  2. (b) A breakdown costs $1500 in lost output. Find the expected weekly cost and standard deviation of weekly cost, caused by machine breakdowns.

Math   Statistics-And-Probability   
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