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The weekly repair cost Y (in thousands of dollars) for a machine has a probability density function given by S 4(1 – y)³, 0< y < 1 f(y) otherwise How much money (in thousands of dollars) should be budgeted each week for repair costs so that the actual cost will exceed the budgeted amount only 5% of the time.

The weekly repair cost Y (in thousands of dollars) for a machine has a probability density function given by S 4(1 – y)³, 0< y < 1 f(y) otherwise How much money (in thousands of dollars) should be budgeted each week for repair costs so that the actual cost will exceed the budgeted amount only 5% of the time.

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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The weekly repair cost Y (in thousands of dollars) for a machine has a probability density function given by S 4(1 – y)*, 0< y < 1 f(y) otherwise How much money (in thousands of dollars) should be budgeted each week for repair costs so that the actual cost will exceed the budgeted amount only 5% of the time. Note. If the answer were 1000 dollars, you would type: 1000. Please round your final answer to 2 decimal places.
Transcribed Image Text:The weekly repair cost Y (in thousands of dollars) for a machine has a probability density function given by S 4(1 – y)*, 0< y < 1 f(y) otherwise How much money (in thousands of dollars) should be budgeted each week for repair costs so that the actual cost will exceed the budgeted amount only 5% of the time. Note. If the answer were 1000 dollars, you would type: 1000. Please round your final answer to 2 decimal places.
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