Solution Found!
Refer to Exercise 3.3. If the cost of testing a component
Chapter 3, Problem 28E(choose chapter or problem)
Problem 28E
Refer to Exercise 3.3. If the cost of testing a component is $2 and the cost of repairing a defective is $4, find the expected total cost for testing and repairing the lot.
Reference
You and a friend play a game where you each toss a balanced coin. If the upper faces on the coins are both tails, you win $1; if the faces are both heads, you win $2; if the coins do not match (one shows a head, the other a tail), you lose $1 (win (−$1)). Give the probability distribution for your winnings, Y , on a single play of this game.
Questions & Answers
QUESTION:
Problem 28E
Refer to Exercise 3.3. If the cost of testing a component is $2 and the cost of repairing a defective is $4, find the expected total cost for testing and repairing the lot.
Reference
You and a friend play a game where you each toss a balanced coin. If the upper faces on the coins are both tails, you win $1; if the faces are both heads, you win $2; if the coins do not match (one shows a head, the other a tail), you lose $1 (win (−$1)). Give the probability distribution for your winnings, Y , on a single play of this game.
ANSWER:
Solution:
Step 1 of 2:
Given,
The cost of testing a component is $2 and the cost of repairing a defective is $4
The claim is to find the expected total cost for testing and repairing the lot
We have to find E[2Y + 4]