Engineering Economy (17th Edition)
17th Edition
ISBN: 9780134870069
Author: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher: PEARSON
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Chapter 12, Problem 17P
(a):
To determine
Calculate the variance.
(b):
To determine
Calculate the probability.
(c):
To determine
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(c) The price of a 14 oz cup of coffee in Sunshine cafés is a random variable C
with an expected value of $3.00 and a standard deviation of $1. At any given
shop, the price doesn't vary, but it varies independently across shops. Tomorrow
morning, you plan to buy two 14 oz cups of coffee from the same shop while your
friend plans on buying two from two different shops.
(i) How much do you expect to spend on coffee tomorrow and with what standard
deviation?
(ii) How much do you expect your friend to spend and with what standard
deviation?
(iii) Who do you think has a better idea and why?
You may need to use the appropriate appendix table to answer this question.
Given that z is a standard normal random variable, find z for each situation. (Round your answers to two decimal places.)
(a) The area to the left of z is 0.9750.
1.8 x
(b) The area between O and z is 0.4750.
(c) The area to the left of z is 0.7291.
(d) The area to the right of z is 0.1271.
(e) The area to the left of z is 0.8106.
() The area to the right of z is 0.1894.
Given that Z is distributed as a standard normal random variable, what is Pr(Z > -0.04)? Round your answer to three decimal places, e.g. 0.251.
Chapter 12 Solutions
Engineering Economy (17th Edition)
Ch. 12 - Prob. 1PCh. 12 - Prob. 2PCh. 12 - A new snow making machine utilizes technology that...Ch. 12 - Prob. 4PCh. 12 - Prob. 5PCh. 12 - Prob. 6PCh. 12 - Prob. 7PCh. 12 - Prob. 8PCh. 12 - Prob. 9PCh. 12 - Prob. 10P
Ch. 12 - Prob. 11PCh. 12 - Prob. 12PCh. 12 - Prob. 13PCh. 12 - Prob. 14PCh. 12 - Prob. 15PCh. 12 - Prob. 16PCh. 12 - Prob. 17PCh. 12 - Prob. 18PCh. 12 - Prob. 19PCh. 12 - Prob. 20PCh. 12 - Prob. 21PCh. 12 - Prob. 22PCh. 12 - If the interest rate is 8% per year, what decision...Ch. 12 - Prob. 24PCh. 12 - Prob. 25PCh. 12 - Prob. 26SE
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