Answer:
a)
b) 0.476
c) 0.667
Step-by-step explanation:
We are given the following in the question:
Y = the number of forms required of the next applicant.
Y: 1, 2, 3, 4, 5, 6
The probability is given by:
a) Property of discrete probability distribution:
b) at most four forms are required
c) probability that between two and five forms (inclusive) are required
Answer:
The cut-off dollar amount is $328.
Step-by-step explanation:
Normal Probability Distribution:
Problems of normal distributions can be solved using the z-score formula.
In a set with mean and standard deviation
, the z-score of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.
Mean cost of $328, standard deviation of $82.
This means that
If you want to be in the bottom 50%, what will be the cut-off dollar amount?
The 50th percentile, which is X when Z has a pvalue of 0.5. So X when Z = 0.
The cut-off dollar amount is $328.
Answer:
Step-by-step explanation:
Given
The unit cost is given by
find the derivative of the unit cost and equate it to zero to obtain the minimum value
Substitute 140 for in the cost function, we get