Please answer question d) Alex is running a recycling business. The weight of collected used Iron in a day is a variable, X, which isnormally distributed with mean 203 kg and standard deviation 40 kg. If the cost to recycle each kg of usedIron is $15 and the other cost for running the recycling business per day is $2300, the total expense per day,T, is given by T = 15X + 2300.(a) Find mean and the standard deviation of T.(b) There is a 13.8% chance that the total daily expense of the business is more than $K. Find the value ofK.(c) Suppose each kg of collected used Iron can be sold for $35 after the recycling. Find the mean, medianand the standard deviation of the daily profit of the business.(d) Alex can apply for government allowance if there is more than 10% chance that his recycling businesshas negative profit in a day. Can he apply for the government allowance? Explain your answer withcalculation.

Name: Please answer question d) Alex is running a recycling business. The we
Uploaded: 2024-03-20T06:47:08.000Z
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Description: Please answer question d) Alex is running a recycling business. The weight of collected used Iron in a day is a variable, X, which isnormally distributed with mean 203 kg and standard deviation 40 kg. If the cost to recycle each kg of usedIron is $15