Following an exponential distribution, the average lifespan of a smartphone battery is 2.3 years. The battery manufacturer wants tooffer a warranty for its customers to receive a free replacement if the battery fails during the first year. Each battery generates a profitof $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 forthe 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 xb. 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 currentlysold0.35 x

Following an exponential distribution, the average lifespan of a smartphone battery is 2.3 years.…

Answered: Following an exponential distribution,…

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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An article in Fortune (September 21, 1992) claimed that nearly one-half of all engineers continue academic studies beyond the B.S. degree, ultimately receiving either an M.S. or a Ph.D. degree. Data from an article in Engineering Horizons (Spring 1990) indicated that 117 of 484 new engineering graduates were planning graduate study. Are the data from Engineering Horizons consistent with the claim reported by Fortune? Use a = 0.02 in reaching your conclusions. Find the P-value. Give your answer. The true proportion of engineering students planning graduate studies The P-value is less than ✓ (choose the least possible). significantly different from 0.5 at a = 0.02.
Management at Jagoda Wholesalers, in Calgary, Canada, has used time-series regression based on point-of-sale data to forecast sales for the next 4 quarters. Sales estimates are $100,000, $120,000, $140,000, and $160,000 for the respective quarters. Seasonal indices for the four quarters have been found to be1.30, .90, .70, and 1.10, respectively.
Vehicles arrive at a car detailing service at a rate of 10 per minute according to a Poissondistribution. For simplicity, assume that there is only one lane and one worker who can serve atan average rate of 12 vehicles per minute. Service times are exponentially distributed. Part A: What is the average length of the queue? Part B: What is the average time a vehicle must spend to get through the system? Part C: What is the utilization rate of the worker? Part D: What is the probability that when you arrive at the shop, there will be three ormore vehicles ahead of you?
Caterpillar, Inc., manufactures and sells heavy construction equipment worldwide. The performance of Caterpillar’s stock is likely to be strongly influenced by the economy. For example, during the Great Recession, the value of Caterpillar’s stock plunged dramatically. Monthly data for Caterpillar’s risk-adjusted return (R − Rf) and the risk-adjusted market return (RM − Rf) are collected for a five-year period (n = 60). A portion of the data is shown in the accompanying table. (You may find it useful to reference the t table.) Month Year R_Rf RM_Rf Jan 2012 0.0510 0.0403 Feb 2012 -0.0682 0.0304 Mar 2012 -0.0360 -0.0083 Apr 2012 -0.1446 -0.0635 May 2012 -0.0318 0.0387 Jun 2012 -0.0091 0.0117 Jul 2012 0.0188 0.0188 Aug 2012 0.0073 0.0232 Sept 2012 -0.0154 -0.0209 Oct 2012 0.0101 0.0018 Nov 2012 0.0504 0.0062 Dec 2012 0.1036 0.0497 Jan 2013 -0.0619 0.0104 Feb 2013 -0.0595 0.0350 Mar 2013 -0.0273 0.0172 Apr 2013 0.0193 0.0202 May 2013 -0.0390 -0.0154…
The model predicts the percentage of people trusting in government' will be ___% in 2025?
In a certain year, it was estimated that 1,000,000 of the 307,000,000 residents of the United States are HIV-positive. (HIV is the virus that is believed to cause AIDS.) The Repeatedly Reactive Immunoassay (RRIA) diagnostic test correctly diagnoses the presence of AIDS/HIV 99.7% of the time and correctly diagnoses its absence 98.5% of the time. (Round your answers to four decimal places.) (a) Find the probability that a person whose test results are positive actually has HIV.(b) Find the probability that a person whose test results are negative does not have HIV.(c) Find the probability that a person whose test results are positive does not have HIV.(d) Find the probability that a person whose test results are negative actually has HIV.(e) Which of the probabilities would you be interested in if you or someone close to you tested positive? the probability that a person whose test results are positive actually has HIVthe probability that a person whose test results are negative does not…
As a sales analyst for the shoe retailer Foot Locker, one of your responsibilities is measuring store productivity and then reporting your conclusion back to management. Foot Locker uses sales per square foot as a measure of store productivity. While preparing your report for the second quarter results (Q2), you are able to determine that annual sales for last year ran at a rate of $406 per square foot. Therefore, $406 per square foot will be your sales estimate for the population of all Foot Locker stores during Q2. For your Q2 Sales Report, you decide to take a random sample of 64 stores. Using annual data from last year, you are able to determine that the standard deviation for sales per square foot for all 3,400 stores was $80. Therefore $80 per square foot will be your population standard deviation when compiling your Q2 report. Management has asked for the probability that your sample mean based on 64 stores is 1) within $15 and 2) within $5 of the population mean…
Ten years ago, the town of Easton decided to increase its annual spending on education so that its high school graduates would be able to earn higher wages. Now Easton has asked you to evaluate the effectiveness of the spending increase. Their data show that before the spending increase, the average annual salary of recent high school graduates was $25,000 and that now that average salary has risen to $28,500. Fortunately for your analysis, a neighboring community (Allentown) did not change its annual spending on education. Ten years ago, recent Allentown high school graduates earned an average of $22,500, and now that average is $23,750. (a) Use a difference-in-differences estimator to determine whether Easton’s spending increase caused the wages of their high school graduates to increase. please provide an accurate answer.
A statistical program is recommended. Electric power consumption is measured in kilowatt-hours (kWh). The local utility company offers an interrupt program whereby commercial customers that participate receive favorable rates but must agree to cut back consumption if the utility requests them to do so. A certain company cuts back consumption at 12:00 noon Thursday. To assess the savings, the utility must estimate the company's usage without the interrupt. The period of interrupted service was from noon to 8:00 p.m. Data on electric power consumption for the previous 72 hours are available. Time Period 12-4 a.m. 4-8 a.m. (b) Compute 8-12 noon 12-4 p.m. 4-8 p.m. 8-12 midnight 41,310 Time Period 12-4 a.m. 4-8 a.m. 8-12 noon Monday 12-4 p.m. 4-8 p.m. 8-12 midnight 124,299 123,666 113,555 111,717 Seasonal Index 0.3262 0.4484 1.3647 Tuesday 1.6992 (a) Is there a seasonal effect over the 24-hour period? O No, the time series plot indicates a linear trend with no seasonal effect. O Yes, the…
A school board has a plan to increase participation in the PTA. Currently only about 22 parents attend meetings. Suppose the school board plan results in logistic growth of attendance. The school board believes their plan can eventually lead to an attendance level of 66 parents. In the absence of limiting factors the school board believes its plan can increase participation by 10% each month. Let m denote the number of months since the participation plan was put in place, and let P be the number of parents attending PTA meetings. (b) Find the constant b for a logistic model. b = (c) Find the r value for a logistic model. Round your answer to three decimal places. r = (d) Find a logistic model for P versus m. P =
A tailor must make 6 of the same size suits for a client. The first suit took 12.8 hours to make and the last suit took 8.8 hours to make. What was the tailor's learning curve % of this run of suits assuming a steady state of production is never reached? Express your answer in % to the nearest 0.1%
Use R programming or excel to answer the following. Visualize your answers. Consider the following quarterly time series: Quarter Year 1 Year 2 Year 3 1 923 1112 1243 2 1056 1156 1301 3 1124 1124 1254 4 992 1078 1198 Construct a time series plot. What type of pattern exists in the data? Use a multiple regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data. Qtr1 = 1 if quarter 1, 0 otherwise; Qtr2 = 1 if quarter 2, 0 otherwise; Qtr3 = 1 if quarter 3, 0 otherwise. Compute the quarterly forecasts for next year based on the model developed in part b.

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