Times for a surgical procedure are normally distributed. There are two methods. Method A has a mean of 28 minutes and a standard deviation of 6 minutes, while method B has a mean of 32 minutes and a standard deviation of 4 minutes. (a) Which procedure is preferred if the procedure must be completed within 28 minutes? (b) Thirty-eight minutes? (c) Thirty-six minutes? Explain your reasoning fully.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
icon
Concept explainers
Question
Times for a surgical procedure are normally distributed. There are two methods.
Method A has a mean of 28 minutes and a standard deviation of 6 minutes, while
method B has a mean of 32 minutes and a standard deviation of 4 minutes. (a)
Which procedure is preferred if the procedure must be completed within 28
minutes? (b) Thirty-eight minutes? (c) Thirty-six minutes? Explain your reasoning
fully.
 
 
Expert Solution
Step 1: part a

(a)

The mean time for method A is 28 minutes, and the standard deviation is 6 minutes. This means that 68% of the procedures will take between 22 minutes and 34 minutes. The remaining 32% of the procedures will take either less than 22 minutes or more than 34 minutes.

The mean time for method B is 32 minutes, and the standard deviation is 4 minutes. This means that 50% of the procedures will take between 28 minutes and 36 minutes. The remaining 50% of the procedures will take either less than 28 minutes or more than 36 minutes.

In this case, we want the procedure to take less than 28 minutes. The probability that method A will take less than 28 minutes is 68%, while the probability that method B will take less than 28 minutes is 50%. Therefore, method A is preferred.

steps

Step by step

Solved in 4 steps

Blurred answer
Knowledge Booster
Deviation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education