An engineer collected monthly operating expenses for the past 3 years for a micro-finishing department. Use the midpoints of each range in preparing your answers.

(a) Develop a plot of the probability distribution by hand or using a spreadsheet, as instructed.

(b) What is the probability that a month€™s expense may be above $40,000?

(c) What is the probability that a month€™s expense may be $35,000?

(d) What is the mode of the probability distribution?

Transcribed Image Text:

Expense Range, $1000 1-10 10–20 20–30 30–40 40–50 50-60 60–70 Midpoint, 5 15 25 35 45 55 65 $1000 Number of Months 3