Calculate the expected value for the variable N in Problem. Bob is working on two separate probability-related

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Calculate the expected value for the variable N in Problem.

Bob is working on two separate probability-related projects. The first involves a variable N, which is the number of consecutively manufactured parts that weigh in above the weight specification limit. The variable N is described by the formula (0.5) N because each unit has a 50-50 chance of being below or above the limit. The second involves a battery life L that varies between 2 and 5 months. The probability distribution is triangular with the mode at 5 months, which is the design life. Some batteries fail early, but 2 months is the smallest life experienced thus far.


Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Engineering economy

ISBN: 978-0073376301

7th Edition

Authors: Leland Blank, Anthony Tarquin

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