A system component has malfunctioned, and the delivery time, Y, of a new part is uniformly distribute on the interval of 0 to 3 days; i.e. it can arrive at anytime over the next three days. The system must shut down until the new part arrives. The cost incurred (in thousands of dollars) due to this interruption C = 5+ 2Y².

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A system component has malfunctioned, and the delivery time, Y, of a new part is uniformly distributed
on the interval of 0 to 3 days; i.e. it can arrive at anytime over the next three days. The system must be
shut down until the new part arrives. The cost incurred (in thousands of dollars) due to this interruption is
C = 5 + 2Y².
a. Find the probability that the cost incurred due to the interruption is less than $13,000. (Hint: Think
in terms of days or use P(g(Y) < c) = P(Y < g¬l(c)).)
b. Find the expected value of C.
c. Find the standard deviation of C.
Transcribed Image Text:A system component has malfunctioned, and the delivery time, Y, of a new part is uniformly distributed on the interval of 0 to 3 days; i.e. it can arrive at anytime over the next three days. The system must be shut down until the new part arrives. The cost incurred (in thousands of dollars) due to this interruption is C = 5 + 2Y². a. Find the probability that the cost incurred due to the interruption is less than $13,000. (Hint: Think in terms of days or use P(g(Y) < c) = P(Y < g¬l(c)).) b. Find the expected value of C. c. Find the standard deviation of C.
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