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Mathematical Statistics with Applications | 7th Edition | ISBN: 9780495110811 | Authors: Dennis Wackerly; William Mendenhall; Richard L. Scheaffer
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Consider the plant of Exercise 4.97. How much of the bulk

Chapter 4, Problem 98E

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QUESTION:

Problem 98E

Consider the plant of Exercise 4.97. How much of the bulk product should be stocked so that the plant’s chance of running out of the product is only .05?

Reference

A manufacturing plant uses a specific bulk product. The amount of product used in one day can be modeled by an exponential distribution with β = 4 (measurements in tons). Find the probability that the plant will use more than 4 tons on a given day.

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QUESTION:

Problem 98E

Consider the plant of Exercise 4.97. How much of the bulk product should be stocked so that the plant’s chance of running out of the product is only .05?

Reference

A manufacturing plant uses a specific bulk product. The amount of product used in one day can be modeled by an exponential distribution with β = 4 (measurements in tons). Find the probability that the plant will use more than 4 tons on a given day.

ANSWER:

Step1 of 4: Goal

How much of the bulk product, C should be stocked so that the plant’s chance of running out of the product is only .05?

 

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