1. The time it takes to complete a MLB game is normally distributed with mean 2 hours 52 minutes and standard deviation 14 minutes. A random sample of 20 games from 2010 is examined.

a. What is the probability that at least 12 games in the sample lasted longer than 3 hours?

b. What is the probability that more than 5 games last less than 2.5 hours?

2. The annual demand for a certain item is N(600,52). Suppose the annual stock level is 600. If demand is less than 600, the annual holding cost of the leftover items is $165 per item. If the demand is greater than 600, then the loss of good will is $300 per item.

a. Determine the expected annual cost of shortages or surpluses of this product.

b. Compute the standard deviation of costs.

c. Find two values for which 95% of costs are between those two costs

d. Comment on the stock level of 300. Can you determine the appropriate stock level that minimizes expected cost?

Subject | Mathematics |

Due By (Pacific Time) | 06/17/2013 01:00 pm |

Tutor | Rating |
---|---|

pallavi Chat Now! |
out of 1971 reviews More.. |

amosmm Chat Now! |
out of 766 reviews More.. |

PhyzKyd Chat Now! |
out of 1164 reviews More.. |

rajdeep77 Chat Now! |
out of 721 reviews More.. |

sctys Chat Now! |
out of 1600 reviews More.. |

sharadgreen Chat Now! |
out of 770 reviews More.. |

topnotcher Chat Now! |
out of 766 reviews More.. |

XXXIAO Chat Now! |
out of 680 reviews More.. |