For this case we have the following quadratic functions:
Revenue:
Cost:
Then, we observe that the profit is given by the following mathematical relationship:
Substituting values we have:
Making the corresponding calculations we have:
Answer:
An expression that represents the profit is:
Answer:
Step-by-step explanation:
Given : The probability of a correct classification of any part is : p=0.96
sample size : n= 3
The formula to find the mean and variance for binomial distribution is given by :-
Let the random variable X denote the number of parts that are correctly classified.
The, for the given situation, we have
Hence, the mean and variance of X are 2.88 and 0.115 respectively.