A production lot of 12 electric motors can be rejected or sold, depending on the result...
A production lot of 12 electric motors can be rejected or sold, depending on the result of the following inspection process: 3 random motors are chosen without replacement and inspected. If one or more are defective, the lot is rejected; otherwise it is accepted. Suppose that each of the motors cost $ 65 and sell for $ 110. If the lot contains 2 defective motors, what is the expected profit?
Answer: $ --60
HINT: Use Excel function =HYPGEOMDIST ( )
Homework Answers
the expected profit is 0.5Add Answer to:
A production lot of 12 electric motors can be rejected or sold, depending on the result...
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