9. An electronic device has a life length of X, which is a continuous random variable with PDF f(x)=ex Suppose that the cost of manufacturing such an item is £2. If the manufacturer sells the device for £5 but offers a full refund if the lifetime X<0.5 then rounded to TWO decimal places the expected profit per item for the manufacturer is £ If the manufacturer sells the device for £6 but offers a full refund if the lifetime X<0.6 then rounded to TWO decimal places the expected profit per item for the manufacturer is £

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

please send correct answer Q9

9. An electronic device has a life length of X, which is a continuous random variable with PDF f(x)=ex, Suppose that the cost of manufacturing such an item is £2.
If the manufacturer sells the device for £5 but offers a full refund if the lifetime X<0.5 then rounded to TWO decimal places the expected profit per item for the manufacturer is £
If the manufacturer sells the device for £6 but offers a full refund if the lifetime X<0.6 then rounded to TWO decimal places the expected profit per item for the manufacturer is £
Transcribed Image Text:9. An electronic device has a life length of X, which is a continuous random variable with PDF f(x)=ex, Suppose that the cost of manufacturing such an item is £2. If the manufacturer sells the device for £5 but offers a full refund if the lifetime X<0.5 then rounded to TWO decimal places the expected profit per item for the manufacturer is £ If the manufacturer sells the device for £6 but offers a full refund if the lifetime X<0.6 then rounded to TWO decimal places the expected profit per item for the manufacturer is £
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman