The lifetime of a product can be modeled with a Weibull distribution with δ = 22...
The lifetime of a product can be modeled with a Weibull
distribution with δ = 22 and β = 3.
a. What is the expected lifetime of the product?
b. What is the standard deviation of the product?
c. The product costs $15,543 dollars to produce, but is expected to
save $1,115 in costs for each year that it functions as advertised.
Considering the initial cost, what is the expected savings in costs
for this product?
d. What is the probability that this product lasts more than 20
years?
e. What is the 10th percentile for the lifetime of a product?
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The lifetime of a product can be modeled with a Weibull
distribution with δ = 22...
The lifetime of a product can be modeled with a Weibull distribution with δ = 22 and β = 3. a. Wh...
The lifetime of a product can be modeled with a Weibull distribution with δ = 22 and β = 3. a. What is the expected lifetime of the product? b. What is the standard deviation of the product? c. The product costs $15,543 dollars to produce, but is expected to save $1,115 in costs for each year that it functions as advertised. Considering the initial cost, what is the expected savings in costs for this product? d. What is the...
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