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Nal 1. The weekly cost X for a machine has a beta distribution with a= 1,B...
The amount of money spent weekly on cleaning, maintenance, and repairs at a large restaurant was...
The amount of money spent weekly on cleaning, maintenance, and repairs at a large restaurant was observed over a long period of time to be approximately normally distributed, with mean μ = $617 and standard deviation σ = $42. (a) If $646 is budgeted for next week, what is the probability that the actual costs will exceed the budgeted amount? (Round your answer to four decimal places.) Incorrect: Your answer is incorrect. (b) How much should be budgeted for weekly...
11) Each week a soft drink machine sells x cans of soda for $075/soda. The cost...
11) Each week a soft drink machine sells x cans of soda for $075/soda. The cost to the owner of the soda machin or each soda is So.10. The weekly fixed cost for maintaining the soda machine is $25/week. Write an equation tha relates the weekly profit, P, in dollars to the number of cans sold each week. Then use the equation to find the weekly profit when 92 cans of soda are sold in a week. A) P 0.65x-25;...
2. (a) Given that N-n, the conditional distribution of Y is x The unconditional distribution of N is Poisson (8). Calculate E(Y) and Var(Y). (b) A plant supervisor is interested in budgeting weekly r...
2. (a) Given that N-n, the conditional distribution of Y is x The unconditional distribution of N is Poisson (8). Calculate E(Y) and Var(Y). (b) A plant supervisor is interested in budgeting weekly repair costs for a certain type of machine. Records over the past years indicate that these repair cost have an exponential distribution with mean 20 for each machine studied. Let Y1, Y2, ..., Ysdenote the repair costs for five of these machines for the next week. Find...
3. LOOKING FOR HELP WITH LETTER B A local sandwich store has a fixed weekly cost...
3. LOOKING FOR HELP WITH LETTER B
A local sandwich store has a fixed weekly cost of $535.00, and variable costs for making a roast beef sandwich are $0.45. Complete parts (a) through (c). a. Let x represent the number of roast beef sandwiches made and sold each week. Write the weekly cost function, C, for the local sandwich store. (Hint: The cost function is the sum of fixed and variable costs.) C(x) = 535 +0.45x (Use integers or decimals...
During an eight-hour shift, the proportion of time Y that a sheet-metal stamping machine is down...
During an eight-hour shift, the proportion of time Y that a sheet-metal stamping machine is down for maintenance or repairs has a beta distribution with a 1 and B 2. That is, 2(1 - y), 0s ys 1, f(y) lo, elsewhere. The cost (in hundreds of dollars) of this downtime, due to lost production and cost of maintenance and repair, is given by C your answers to two decimal places.) 50Y 2y. Find the mean and variance of C. (Round...
A continuous random variable X has a beta distribution with p.d.f : 1 f(x) = 0<<<1,...
A continuous random variable X has a beta distribution with
p.d.f :
1 f(x) = 0<<<1, a > 2 B(4, 5)22-1(1 – 2)8-1 Determine E (3) HINT: E possible. (-) + E(X) Please show your work and simplify your final answer as much as
A company manufactures and sells x cellphones per week. The weekly price-demand and cost equation...
#4
& 5, work shown.
A company manufactures and sells x cellphones per week. The weekly price-demand and cost equations are given below. 4) p 400-0.lx and C(x)-25,000+135x Find the weekly revenue function. What price should the company charge for the phones, and how many phones should be produced to maximize the weekly revenue? What is the weekly revenue? a) b) c) Find the weekly profit function. What price should the company charge for the phones, and how many phones...
A random varible X taking values from [0,1] has Beta distribution of parameters a and B,...
A random varible X taking values from [0,1] has Beta distribution of parameters a and B, which we denote by Beta(a,b), if it has PDF _f(a+B) fa-1(1 – X)B-1, fx(x) = T(a)l(B) where I(z) is the Euler Gamma function defined by I(z) = Sx2-1e-*dx. Bob has a coin with unknown probability of heads. Alice has the following Beta prior: A = Beta(2,3). Suppose that Bob gives Alice the data on = {x1,...,xn), which is the outcome of n indepen- dent...
The random variable X has a beta distribution with parameters a=1 and b = 4 ....
The random variable X has a beta distribution with parameters a=1 and b = 4 . Calculate the mean and median of X.
15) A machine costs $50,000 today and has an estimated scrap (salvage) cash value of $10,000...
15) A machine costs $50,000 today and has an estimated scrap (salvage) cash value of $10,000 after ten years. Inflation is 6% per year. The effective annual interest rate earned on money invested is 296. How much money needs to be set aside each year to replace the machine with an identical model ten years from now? (Hint #1: first determine the cost of the machine after inflation of the price for 10 years). (Hint #2: the salvage value is...
11) Each week a soft drink machine sells x cans of soda for $075/soda. The cost to the owner of the soda machin or each soda is So.10. The weekly fixed cost for maintaining the soda machine is $25/week. Write an equation tha relates the weekly profit, P, in dollars to the number of cans sold each week. Then use the equation to find the weekly profit when 92 cans of soda are sold in a week. A) P 0.65x-25;...
2. (a) Given that N-n, the conditional distribution of Y is x The unconditional distribution of N is Poisson (8). Calculate E(Y) and Var(Y). (b) A plant supervisor is interested in budgeting weekly repair costs for a certain type of machine. Records over the past years indicate that these repair cost have an exponential distribution with mean 20 for each machine studied. Let Y1, Y2, ..., Ysdenote the repair costs for five of these machines for the next week. Find...
3. LOOKING FOR HELP WITH LETTER B
A local sandwich store has a fixed weekly cost of $535.00, and variable costs for making a roast beef sandwich are $0.45. Complete parts (a) through (c). a. Let x represent the number of roast beef sandwiches made and sold each week. Write the weekly cost function, C, for the local sandwich store. (Hint: The cost function is the sum of fixed and variable costs.) C(x) = 535 +0.45x (Use integers or decimals...
During an eight-hour shift, the proportion of time Y that a sheet-metal stamping machine is down for maintenance or repairs has a beta distribution with a 1 and B 2. That is, 2(1 - y), 0s ys 1, f(y) lo, elsewhere. The cost (in hundreds of dollars) of this downtime, due to lost production and cost of maintenance and repair, is given by C your answers to two decimal places.) 50Y 2y. Find the mean and variance of C. (Round...
A continuous random variable X has a beta distribution with
p.d.f :
1 f(x) = 0<<<1, a > 2 B(4, 5)22-1(1 – 2)8-1 Determine E (3) HINT: E possible. (-) + E(X) Please show your work and simplify your final answer as much as
#4
& 5, work shown.
A company manufactures and sells x cellphones per week. The weekly price-demand and cost equations are given below. 4) p 400-0.lx and C(x)-25,000+135x Find the weekly revenue function. What price should the company charge for the phones, and how many phones should be produced to maximize the weekly revenue? What is the weekly revenue? a) b) c) Find the weekly profit function. What price should the company charge for the phones, and how many phones...
A random varible X taking values from [0,1] has Beta distribution of parameters a and B, which we denote by Beta(a,b), if it has PDF _f(a+B) fa-1(1 – X)B-1, fx(x) = T(a)l(B) where I(z) is the Euler Gamma function defined by I(z) = Sx2-1e-*dx. Bob has a coin with unknown probability of heads. Alice has the following Beta prior: A = Beta(2,3). Suppose that Bob gives Alice the data on = {x1,...,xn), which is the outcome of n indepen- dent...
15) A machine costs $50,000 today and has an estimated scrap (salvage) cash value of $10,000 after ten years. Inflation is 6% per year. The effective annual interest rate earned on money invested is 296. How much money needs to be set aside each year to replace the machine with an identical model ten years from now? (Hint #1: first determine the cost of the machine after inflation of the price for 10 years). (Hint #2: the salvage value is...
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