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The distributor of a machine for cytogenics has developed

Applied Statistics and Probability for Engineers | 6th Edition | ISBN: 9781118539712 | Authors: Douglas C. Montgomery, George C. Runger ISBN: 9781118539712 55

Solution for problem 29E Chapter 3.2

Applied Statistics and Probability for Engineers | 6th Edition

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Applied Statistics and Probability for Engineers | 6th Edition | ISBN: 9781118539712 | Authors: Douglas C. Montgomery, George C. Runger

Applied Statistics and Probability for Engineers | 6th Edition

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Problem 29E Problem 29E

The distributor of a machine for cytogenics has developed a new model. The company estimates that when it is introduced into the market, it will be very successful with a probability 0.6, moderately successful with a probability 0.3, and not successful with probability 0.1. The estimated yearly profit associated with the model being very successful is $15 million and with it being moderately successful is $5 million; not successful would result in a loss of $500,000. Let X be the yearly profit of the new model. Determine the probability mass function of X.

Step-by-Step Solution:

Solution:

Step 1 of 2:

       Given the problem states that,  the probabilities for the company estimates that when it is introduced into the market, it will be very successful = 0.6, moderately successful = 0.3, or unsuccessful = 0.1.

     The estimated yearly profit associated with the model being very successful is $15 million and moderately successful = $5 million, or unsuccessful would result in a loss of $500,000.


Step 2 of 2

Chapter 3.2, Problem 29E is Solved
Textbook: Applied Statistics and Probability for Engineers
Edition: 6
Author: Douglas C. Montgomery, George C. Runger
ISBN: 9781118539712

This textbook survival guide was created for the textbook: Applied Statistics and Probability for Engineers , edition: 6. The full step-by-step solution to problem: 29E from chapter: 3.2 was answered by , our top Statistics solution expert on 07/28/17, 07:57AM. Since the solution to 29E from 3.2 chapter was answered, more than 468 students have viewed the full step-by-step answer. Applied Statistics and Probability for Engineers was written by and is associated to the ISBN: 9781118539712. The answer to “The distributor of a machine for cytogenics has developed a new model. The company estimates that when it is introduced into the market, it will be very successful with a probability 0.6, moderately successful with a probability 0.3, and not successful with probability 0.1. The estimated yearly profit associated with the model being very successful is $15 million and with it being moderately successful is $5 million; not successful would result in a loss of $500,000. Let X be the yearly profit of the new model. Determine the probability mass function of X.” is broken down into a number of easy to follow steps, and 93 words. This full solution covers the following key subjects: successful, Probability, model, yearly, profit. This expansive textbook survival guide covers 97 chapters, and 2005 solutions.

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The distributor of a machine for cytogenics has developed