Using Excel Formulas where neccessary, a) What is the probability that Snap Equities makes this investment? Tony realizes that in order for each GauntletTM to function properly, he requires 6 identical Gyroscopic Electro-Magnetic Systems (G.E.M.S.) to be installed per GauntletTM. Stephen is the sole supplier of G.E.M.S., and can supply as many G.E.M.S. as Tony needs. Let Y be a random variable that represents the total number of G.E.M.S. supplied by Stephen to Tony for the months of October, November, and December 2020 combined. b) What is the mean of Y? c) What is the standard deviation of Y?
Tony is a technopreneur who has started up a company called Infinity Technologies that
manufactures “smart” wearables. Its main product line is code-named the GauntletTM, a
type of smart glove, which would be ready for sale in October 2020. Tony estimated
that demand for the GauntletTM in the month of October 2020 would be wellapproximated by a normal distribution having a mean of 1,000 units and standard
deviation of 200 units. In the month of October 2020,
A private equity firm, Snap Equities, intends to make a big investment in Infinity
Technologies, but will only do so if demand for the GauntletTM exceeds 1,200 units per
month for at least two out of the three months of October, November, and December
2020. Assume that the demand for GauntletTM in October, November and December
2020 are all identical in distribution and independent of each other.
Using Excel Formulas where neccessary,
a) What is the
Tony realizes that in order for each GauntletTM to
identical Gyroscopic Electro-Magnetic Systems (G.E.M.S.) to be installed per
GauntletTM. Stephen is the sole supplier of G.E.M.S., and can supply as many G.E.M.S.
as Tony needs.
Let Y be a random variable that represents the total number of G.E.M.S. supplied by
Stephen to Tony for the months of October, November, and December 2020 combined.
b) What is the mean of Y?
c) What is the standard deviation of Y?
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