A factory manager is considering whether to replace a temperamental
A factory manager is considering whether to replace a temperamental machine. A review of past records indicates the following probability distribution for the number of breakdowns of this machine in a week.
a. Find the mean and standard deviation of the number of weekly breakdowns.
b. It is estimated that each breakdown costs the company $1,500 in lost output. Find the mean and standard deviation of the weekly cost to the company from breakdowns of this machine.
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