Answer:
By strengthening key elements of their safety and health programs, they also can improve their overall organizational performance. In addition to the social benefits, employers that use leading indicators to find and fix hazards can realize direct savings to their bottom line.
If the variables disappear and you get a statement that is never true,such as 0=5 or 4=7 then there is no solution meaning when graphed the two equations will form parallel lines which never interact
Let x be the required waranty period, then
P(X < x) = P(z < (x - 12)/(8/12)) = 1 - 0.067 = 0.933
P(z < 12(x - 12)/8) = P(z < 1.498)
12(x - 12)/8 = 1.498
x - 12 = 8(1.498) / 12 = 0.9987
x = 12 - 0.9987 = 11
Therefore, they should waranty for 11 years so that no more than 6.7% fail within that time.
cost of production = %13
Let the price be p, then
revenue less price of failed iron = p - 0.067(13) = p - 0.871
Profit = p - 0.871 - 13 = 5
p - 13.871 = 5
p = 5 + 13.871 = 18.871
Therefore, the should charge $18.87 per waffle iron.
The slope is 2/3 when simplified
