The manager of a stockroom in a factory knows from her study of record that x, the daily demand ( number of times used per day) for a certain tool, has the following probability distributions: Demand 0 1 2 Probability 0.2 0.6 0.5 That is, 50% of the daily records show that the total was used one time. 1. Find the expected daily demand for the tool and the variance. 2. Suppose it cost P150 each time the tool is used. Find the mean and variance of the daily costs for use of this tool.
The manager of a stockroom in a factory knows from her study of record that x, the daily demand ( number of times used per day) for a certain tool, has the following probability distributions: Demand 0 1 2 Probability 0.2 0.6 0.5 That is, 50% of the daily records show that the total was used one time. 1. Find the expected daily demand for the tool and the variance. 2. Suppose it cost P150 each time the tool is used. Find the mean and variance of the daily costs for use of this tool.
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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The manager of a stockroom in a factory knows from her study of record that x, the daily demand ( number of times used per day) for a certain tool, has the following
Demand |
0 |
1 |
2 |
Probability |
0.2 |
0.6 |
0.5 |
That is, 50% of the daily records show that the total was used one time.
1. Find the expected daily demand for the tool and the variance.
2. Suppose it cost P150 each time the tool is used. Find the
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