A company has developed a design for a high-quality portable printer. The two key components of manufacturing cost are direct labor and parts. During a testing period, the company has developed prototypes and conducted extensive product tests with the new printer. The company's engineers have developed the bivariate probability distribution shown below for the manufacturing costs. Parts cost (in dollars) per printer is represented by the random variable x and direct labor cost (in dollars) per printer is represented by the random variable y. Management would like to use this probability distribution to estimate manufacturing costs. Parts (x) Direct Labor (y) Total 43 45 48 85 0.2 0.05 0.2 0.45 95 0.25 0.1 0.2 0.55 Total 0.45 0.15 0.4 1.00 (a) Show the marginal distribution of direct labor cost and compute its expected value (in dollars), variance, and standard deviation (in dollars). (Round your answer for standard deviation to the nearest cent.) Marginal Distribution of Direct Labor Cost y f(y) yf(y) y − E(y) (y − E(y))2 (y − E(y))2f(y) 43 45 48 Var(y) = E(y) = dollars σy = dollars (b) Show the marginal distribution of parts cost and compute its expected value (in dollars), variance, and standard deviation (in dollars). (Round your answer for standard deviation to the nearest cent.) Marginal Distribution of Parts Cost x f(x) xf(x) x − E(x) (x − E(x))2 (x − E(x))2f(x) 85 95 Var(x) = E(x) = dollars σx = dollars (c) Total manufacturing cost per unit is the sum of direct labor cost and parts cost. Show the probability distribution for total manufacturing cost per unit. z = x + y f(z) 128 130 133 138 140 143 Total 1.00 (d) Compute the expected value (in dollars), variance, and standard deviation (in dollars) of total manufacturing cost per unit. (Round your answer for standard deviation to two decimal places.) expected value dollarsvariancestandard deviation dollars
A company has developed a design for a high-quality portable printer. The two key components of manufacturing cost are direct labor and parts. During a testing period, the company has developed prototypes and conducted extensive product tests with the new printer. The company's engineers have developed the bivariate probability distribution shown below for the manufacturing costs. Parts cost (in dollars) per printer is represented by the random variable x and direct labor cost (in dollars) per printer is represented by the random variable y. Management would like to use this probability distribution to estimate manufacturing costs. Parts (x) Direct Labor (y) Total 43 45 48 85 0.2 0.05 0.2 0.45 95 0.25 0.1 0.2 0.55 Total 0.45 0.15 0.4 1.00 (a) Show the marginal distribution of direct labor cost and compute its expected value (in dollars), variance, and standard deviation (in dollars). (Round your answer for standard deviation to the nearest cent.) Marginal Distribution of Direct Labor Cost y f(y) yf(y) y − E(y) (y − E(y))2 (y − E(y))2f(y) 43 45 48 Var(y) = E(y) = dollars σy = dollars (b) Show the marginal distribution of parts cost and compute its expected value (in dollars), variance, and standard deviation (in dollars). (Round your answer for standard deviation to the nearest cent.) Marginal Distribution of Parts Cost x f(x) xf(x) x − E(x) (x − E(x))2 (x − E(x))2f(x) 85 95 Var(x) = E(x) = dollars σx = dollars (c) Total manufacturing cost per unit is the sum of direct labor cost and parts cost. Show the probability distribution for total manufacturing cost per unit. z = x + y f(z) 128 130 133 138 140 143 Total 1.00 (d) Compute the expected value (in dollars), variance, and standard deviation (in dollars) of total manufacturing cost per unit. (Round your answer for standard deviation to two decimal places.) expected value dollarsvariancestandard deviation dollars
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Concept explainers
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
Topic Video
Question
Can you please show me how to compute c. and d? I am not sure how to do it and where do I get the numbers for the probability distribution for total manufacturing cost per unit.
A company has developed a design for a high-quality portable printer. The two key components of manufacturing cost are direct labor and parts. During a testing period, the company has developed prototypes and conducted extensive product tests with the new printer. The company's engineers have developed the bivariate probability distribution shown below for the manufacturing costs. Parts cost (in dollars) per printer is represented by the random variable x and direct labor cost (in dollars) per printer is represented by the random variable y. Management would like to use this probability distribution to estimate manufacturing costs.
Parts (x) | Direct Labor (y) | Total | ||
---|---|---|---|---|
43 | 45 | 48 | ||
85 | 0.2 | 0.05 | 0.2 | 0.45 |
95 | 0.25 | 0.1 | 0.2 | 0.55 |
Total | 0.45 | 0.15 | 0.4 | 1.00 |
(a)
Show the marginal distribution of direct labor cost and compute its expected value (in dollars), variance, and standard deviation (in dollars). (Round your answer for standard deviation to the nearest cent.)
Marginal Distribution of Direct Labor Cost
y |
f(y)
|
yf(y)
|
y − E(y)
|
(y − E(y))2
|
(y − E(y))2f(y)
|
---|---|---|---|---|---|
43 | |||||
45 | |||||
48 | |||||
Var(y) =
|
|||||
E(y) = dollars
|
σy = dollars
|
(b)
Show the marginal distribution of parts cost and compute its expected value (in dollars), variance, and standard deviation (in dollars). (Round your answer for standard deviation to the nearest cent.)
Marginal Distribution of Parts Cost
x |
f(x)
|
xf(x)
|
x − E(x)
|
(x − E(x))2
|
(x − E(x))2f(x)
|
---|---|---|---|---|---|
85 | |||||
95 | |||||
Var(x) =
|
|||||
E(x) = dollars
|
σx = dollars
|
(c)
Total manufacturing cost per unit is the sum of direct labor cost and parts cost. Show the probability distribution for total manufacturing cost per unit.
z = x + y
|
f(z)
|
---|---|
128 | |
130 | |
133 | |
138 | |
140 | |
143 | |
Total | 1.00 |
(d)
Compute the expected value (in dollars), variance, and standard deviation (in dollars) of total manufacturing cost per unit. (Round your answer for standard deviation to two decimal places.)
expected value dollarsvariancestandard deviation dollars
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Recommended textbooks for you
![MATLAB: An Introduction with Applications](https://www.bartleby.com/isbn_cover_images/9781119256830/9781119256830_smallCoverImage.gif)
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
![Probability and Statistics for Engineering and th…](https://www.bartleby.com/isbn_cover_images/9781305251809/9781305251809_smallCoverImage.gif)
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
![Statistics for The Behavioral Sciences (MindTap C…](https://www.bartleby.com/isbn_cover_images/9781305504912/9781305504912_smallCoverImage.gif)
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
![MATLAB: An Introduction with Applications](https://www.bartleby.com/isbn_cover_images/9781119256830/9781119256830_smallCoverImage.gif)
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
![Probability and Statistics for Engineering and th…](https://www.bartleby.com/isbn_cover_images/9781305251809/9781305251809_smallCoverImage.gif)
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
![Statistics for The Behavioral Sciences (MindTap C…](https://www.bartleby.com/isbn_cover_images/9781305504912/9781305504912_smallCoverImage.gif)
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…](https://www.bartleby.com/isbn_cover_images/9780134683416/9780134683416_smallCoverImage.gif)
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
![The Basic Practice of Statistics](https://www.bartleby.com/isbn_cover_images/9781319042578/9781319042578_smallCoverImage.gif)
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](https://www.bartleby.com/isbn_cover_images/9781319013387/9781319013387_smallCoverImage.gif)
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman