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Following an exponential distribution, the average lifespan of a smartphone battery is 2.3 years. The battery manufacturer wants to offer a warranty for its customers to receive a free replacement if the battery fails during the first year. Each battery generates a profit of $10.85, and the replacement cost is $6.35. Use Excel's Analysis ToolPak, with a seed of 1, to develop a Monte Carlo simulation for the lifespan of 100 batteries. a. What is the expected total cost of this warranty program? Note: Round intermediate calculations to at least 4 decimal places and your final answer to 2 decimal places. Answer is complete but not entirely correct. The expected total cost of the warranty program for every 100 batteries sold $ -190.50 x b. In order to cover the cost of the warranty program, how many additional battery units does the company need to sell? Note: Round intermediate calculations to at least 4 decimal places and your final answer to 2 decimal places. Answer is complete but not entirely correct. Additional batteries the company needs to sell for every 100 batteries currently 0.35 x sold

Following an exponential distribution, the average lifespan of a smartphone battery is 2.3 years. The battery manufacturer wants to offer a warranty for its customers to receive a free replacement if the battery fails during the first year. Each battery generates a profit of $10.85, and the replacement cost is $6.35. Use Excel's Analysis ToolPak, with a seed of 1, to develop a Monte Carlo simulation for the lifespan of 100 batteries. a. What is the expected total cost of this warranty program? Note: Round intermediate calculations to at least 4 decimal places and your final answer to 2 decimal places. Answer is complete but not entirely correct. The expected total cost of the warranty program for every 100 batteries sold $ -190.50 x b. In order to cover the cost of the warranty program, how many additional battery units does the company need to sell? Note: Round intermediate calculations to at least 4 decimal places and your final answer to 2 decimal places. Answer is complete but not entirely correct. Additional batteries the company needs to sell for every 100 batteries currently 0.35 x sold

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Following an exponential distribution, the average lifespan of a smartphone battery is 2.3 years. The battery manufacturer wants to offer a warranty for its customers to receive a free replacement if the battery fails during the first year. Each battery generates a profit of $10.85, and the replacement cost is $6.35. Use Excel's Analysis ToolPak, with a seed of 1, to develop a Monte Carlo simulation for the lifespan of 100 batteries. a. What is the expected total cost of this warranty program? Note: Round intermediate calculations to at least 4 decimal places and your final answer to 2 decimal places. > Answer is complete but not entirely correct. The expected total cost of the warranty program for every 100 batteries sold $ -190.50 x b. In order to cover the cost of the warranty program, how many additional battery units does the company need to sell? Note: Round intermediate calculations to at least 4 decimal places and your final answer to 2 decimal places. > Answer is complete but not entirely correct. Additional batteries the company needs to sell for every 100 batteries currently sold 0.35 x
Transcribed Image Text:Following an exponential distribution, the average lifespan of a smartphone battery is 2.3 years. The battery manufacturer wants to offer a warranty for its customers to receive a free replacement if the battery fails during the first year. Each battery generates a profit of $10.85, and the replacement cost is $6.35. Use Excel's Analysis ToolPak, with a seed of 1, to develop a Monte Carlo simulation for the lifespan of 100 batteries. a. What is the expected total cost of this warranty program? Note: Round intermediate calculations to at least 4 decimal places and your final answer to 2 decimal places. > Answer is complete but not entirely correct. The expected total cost of the warranty program for every 100 batteries sold $ -190.50 x b. In order to cover the cost of the warranty program, how many additional battery units does the company need to sell? Note: Round intermediate calculations to at least 4 decimal places and your final answer to 2 decimal places. > Answer is complete but not entirely correct. Additional batteries the company needs to sell for every 100 batteries currently sold 0.35 x
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