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In a manufacturing process, there are strict tolerances on the dimensions of a part produced. If the part is too long, it must be trimmed to the correct length. Suppose 5% of all parts are too long and 1% of all parts are too short. Parts of the correct length (either originally or trimmed) can be sold for $5 each. However, if the part is too short, it cannot be used at all and is discarded. The cost of manufacturing each part is $2 and the cost to trim a part to length is $1. The expected profit per part is: (A) $1.00 (B) $2.05 (C) $2.90 (D) $3.00 (E) $4.95

In a manufacturing process, there are strict tolerances on the dimensions of a part produced. If the part is too long, it must be trimmed to the correct length. Suppose 5% of all parts are too long and 1% of all parts are too short. Parts of the correct length (either originally or trimmed) can be sold for $5 each. However, if the part is too short, it cannot be used at all and is discarded. The cost of manufacturing each part is $2 and the cost to trim a part to length is $1. The expected profit per part is: (A) $1.00 (B) $2.05 (C) $2.90 (D) $3.00 (E) $4.95

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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In a manufacturing process, there are strict tolerances on the dimensions of a part produced. If the part is too long, it must be trimmed to the correct length. Suppose 5% of all parts are too long and 1% of all parts are too short. Parts of the correct length (either originally or trimmed) can be sold for $5 each. However, if the part is too short, it cannot be used at all and is discarded. The cost of manufacturing each part is $2 and the cost to trim a part to length is $1. The expected profit per part is: (A) $1.00 (B) $2.05 (C) $2.90 (D) $3.00 (E) $4.95
Transcribed Image Text:In a manufacturing process, there are strict tolerances on the dimensions of a part produced. If the part is too long, it must be trimmed to the correct length. Suppose 5% of all parts are too long and 1% of all parts are too short. Parts of the correct length (either originally or trimmed) can be sold for $5 each. However, if the part is too short, it cannot be used at all and is discarded. The cost of manufacturing each part is $2 and the cost to trim a part to length is $1. The expected profit per part is: (A) $1.00 (B) $2.05 (C) $2.90 (D) $3.00 (E) $4.95
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