Given a budget of $300 and the following data on three components that mustoperate in series, determine, using marginal analysis, the optimum number ofredundant units. Compute the achieved reliability.Component123Reliability0.90.80.7Unit Cost$1005020

Given that, A budget of $300. The data is given on three components that must operate in series. The…

Answered: Given a budget of $300 and the…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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6. An economist studies the relationship betweenthe price (x) and weekly demand (y) of a certainproduct. Assume the SLR model utility test findsevidence of a linear relationship between priceand demand. Find the appropriate intervalestimate for the mean demand for all weekswhen the price is $31. We know: n = 5 , X-bar = 30,sx2 = 10 , MSE = 12.1 , and Y-hat = 181 − 2.7x.
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Following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in thousands, demanded at a local gasoline station. Also shown are actual demand levels, in thousands of gallons: Week 234 Forecast Method 1 The MAD for Method 1 = 0.85 1.02 0.97 1.20 Actual Demand 0.72 1.05 1.07 1.00 Week 1 2 3 4 Forecast Method 2 0.77 1.21 0.88 1.15 thousand gallons (round your response to three decimal places). Actual Demand 0.72 1.05 1.07 1.00
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Table 1. The manager of Carpet City outlet store needs to be able to forecast accurately demand for Soft Shang carpet. Demand for the past 20 weeks appears in table 1 below. week Demand Forecast Error ABS. Dev Squared Error APE 1 20 2 28 3 22 4 18 5 22 6 22 7 22 8 26 9 23 10 23 11 23 12 27 13 25 14 22 15 23 16 14 17 14 18 15 19 11 20 16 21 22 23 24…
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Given a budget of $300 and the following data on three components that must operate in series, determine, using marginal analysis, the optimum number of redundant units. Compute the achieved reliability. Component 1 2 23 3 Reliability 0.9 0.8 0.7 Unit Cost $100 50 20