# Question

The bicycle shop in Exercise 55 estimates using current labor costs that unpacking a bike costs $0.82 on average with a standard deviation of $0.16. Assembly costs $8.00 on average with a standard deviation of $0.88 and tuning costs $4.10 with a standard deviation of $0.90. Because the costs are directly related to the times, you can use the same assumptions as in exercise 55.

a) Define your random variables, and use them to express the total cost of the bike set up.

b) Find the mean set up cost.

c) Find the standard deviation of the set up cost.

d) If the next shipment is 40 bikes, what is the probability that the total set up cost will be less than $500?

a) Define your random variables, and use them to express the total cost of the bike set up.

b) Find the mean set up cost.

c) Find the standard deviation of the set up cost.

d) If the next shipment is 40 bikes, what is the probability that the total set up cost will be less than $500?

## Answer to relevant Questions

At a certain coffee shop, all the customers buy a cup of coffee; some also buy a doughnut. The shop owner believes that the number of cups he sells each day is normally distributed with a mean of 320 cups and a standard ...Vitamin D is essential for strong, healthy bones. Although the bone disease rickets was largely eliminated in England during the 1950s, some people there are concerned that this generation of children is at increased risk ...Some IQ tests are standardized to a Normal model with a mean of 100 and a standard deviation of 16. a) Draw the model for these IQ scores. Clearly label it, showing what the 68-95-99.7 Rule predicts about the scores. b) In ...In the 4 X 100 medley relay event, four swimmers swim 100 yards, each using a different stroke. A college team preparing for the conference championship looks at the times their swimmers have posted and creates a model based ...The airline company in Exercise 4 has realized that some of its customers don’t have e-mail or don’t read it regularly. They decide to restrict the mailing only to customers who have recently registered for a “Win a ...Post your question

0