Solution Found!

Statistics / Probability and Statistical Inference 9 / Chapter 3.4 / Problem 3.4-15

Probability and Statistical Inference | 9th Edition | ISBN: 9780321923271 | Authors: Robert V. Hogg, Elliot Tanis, Dale Zimmerman

Change Question

A certain machine has a life X that has an exponential distribution with mean 10. The

Chapter 3, Problem 3.4-15

(choose chapter or problem)

Get Unlimited Answers

QUESTION:

A certain machine has a life X that has an exponential distribution with mean 10. The warranty is such that 100% of the price is returned if the machine fails in the first year, and 50% of the price is returned for a failure during the second year, and nothing is returned after that. If the machine cost $2500, what are the expected value and the standard deviation of the return on the warranty?

Questions & Answers

QUESTION:

A certain machine has a life X that has an exponential distribution with mean 10. The warranty is such that 100% of the price is returned if the machine fails in the first year, and 50% of the price is returned for a failure during the second year, and nothing is returned after that. If the machine cost $2500, what are the expected value and the standard deviation of the return on the warranty?

ANSWER:

Step 1 of 3

Given: has an exponential distribution with mean of

is the return on the warranty. The machine costs : of the price is returned if the machine fails in the first year and of the price is returned if the machine fails in the second year:

Study Tools You Might Need

Chapter: 2 Problem: 3CQ

Physics with MasteringPhysics 4
Can you drive your car in such a way that the distance it covers is (a) greater than, (b) equal to, or (c) less than the magnitude of its displacement? In each case, give an example if your answer is yes, explain why not if your answer is no.

Chapter: 18 Problem: 18P

Physics: Principles with Applications 6
(II) In a Rotor-ride at a carnival, people are rotated in a cylindrically walled room. (See Fig. 535.) The room radius is 4.6 m, and the rotation frequency is 0.50 revolutions per second when the floor drops out. What is the minimum coefficient of static friction so that the people will not slip down

Chapter: 11 Problem: 19

Chemistry: A Molecular Approach 3
Why is vaporization endothermic? Why is condensation exothermic?

Chapter: 23 Problem: 2

Campbell Biology in Focus - Standalone book 1
Adaptive radiations can be a direct consequence of four of the following five factors. Select the exception. a. vacant ecological niches b. genetic drift c. colonization of an isolated region that contains suitable habitat and few competitor species d. evolutionary innovation e. an adaptive radiation

Chapter: 4 Problem: 4

Cognitive Psychology: Connecting Mind, Research and Everyday Experience 4
How does the attention involved in carrying out actions in the environment differ from the attention involved in scanning a picture for details, as in the previous observation exercise?

Chapter: 26 Problem: 5

Principles of Economics 9
A closed economy has income of $1,000, government spending of $200, taxes of $150, and investment of $250. What is private saving? a. $100 b. $200 c. $300 d. $400

Chapter: 20 Problem: 30

Biochemistry 9
What would be some of the challenges involved in removing respiratory complexes from the inner mitochondrial membrane in order to study their properties?

Chapter: 7 Problem: 7.19

Chemistry 13
When copper is bombarded with high-energy electrons, X rays are emitted. Calculate the energy (in joules) associated with the photons if the wavelength of the X rays is 0.154 nm.

Not The Solution You Need? Search for Your Answer Here:

×

Login

Login or Sign up for access to all of our study tools and educational content!

×

Register

Sign up for access to all content on our site!

Or login if you already have an account