Chapter 8.3, Problem 58E

(a)

To determine

To calculate: The mean and standard deviation of the number of defective pumps. If the HIW, has the $15$ sump pumps in stock and the company selling price for each pumps is $\$150$

(b)

To determine

To calculate: The probability at least $2$ pumps are the defective pumps. If the HIW, has the $15$ sump pumps in stock and the company selling price for each pumps is $\$150$ which provides you double your money back guarantee for any defective pump. If the probability of any defective pump is $0.08$

(c)

To determine

To calculate: The an expression in terms of $x$ for HIW net revenue from the sale of all $15$ pumps and also calculate the expected net revenue where, $x$ represent the number of defective pumps