. An appliance manufacturer wants to contract with a repair shop to handle authorized repairs inIndianapolis. The company has set an acceptable range of repair time of 50 minutes to 90 minutes.Two firms have submitted bids for the work. In test trials, one firm had a mean repair time of 74minutes with a standard deviation of 4.0 minutes and the other firm had a mean repair time of 72minutes with a standard deviation of 5.1 minutes. Which firm would you choose? Why?
. An appliance manufacturer wants to contract with a repair shop to handle authorized repairs inIndianapolis. The company has set an acceptable range of repair time of 50 minutes to 90 minutes.Two firms have submitted bids for the work. In test trials, one firm had a mean repair time of 74minutes with a standard deviation of 4.0 minutes and the other firm had a mean repair time of 72minutes with a standard deviation of 5.1 minutes. Which firm would you choose? Why?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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. An appliance manufacturer wants to contract with a repair shop to handle authorized repairs in
Indianapolis. The company has set an acceptable range of repair time of 50 minutes to 90 minutes.
Two firms have submitted bids for the work. In test trials, one firm had a mean repair time of 74
minutes with a standard deviation of 4.0 minutes and the other firm had a mean repair time of 72
minutes with a standard deviation of 5.1 minutes. Which firm would you choose? Why?
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