Question: Please help solve ASAP. Thanks. The probability that equipment used in a hospital lab will need recalibration is given in the following table. A service
Please help solve ASAP. Thanks.
The probability that equipment used in a hospital lab will need recalibration is given in the following table. A service firm is willing to perform maintenance and do any necessary calibrations for a fee of $500 per month. Recalibration costs $425 per time. (Round the answer of "Expected cost of recalibration" to nearest whole number.) Click here for the Excel Data File Which approach would be most cost-effective, recalibration as needed or the service contract? Service contract Recalibration Both methods are the same
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