The SteelCo company manufactures steel rods. The specification limits on the lengths of these rods are...

 

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The SteelCo company manufactures steel rods. The specification limits on the lengths of these rods are from 95.6 inches to 95.7 inches. The process that produces these rods currently yields lengths that are normally distributed with mean 95.66 inches and standard deviation 0.025 inch. a. What is the probability that a single rod will be within specification limits? Round your answer to three decimal places, if necessary. b. What is the probability that at least 90 of 100 rods will be within specification limits? Round your answer to three decimal places, if necessary. c. SteelCo's best customer currently buys 200 of these rods each day and pays the company $20 apiece. However, it gets a $40 refund for each rod that doesn't meet specifications. What is SteelCo's current expected profit per day? Round your answer to the nearest whole dollar, if necessary. How small would its standard deviation need to be before it would net an expected $3,900 per day? Round your answer to three decimal places, if necessary. The SteelCo company manufactures steel rods. The specification limits on the lengths of these rods are from 95.6 inches to 95.7 inches. The process that produces these rods currently yields lengths that are normally distributed with mean 95.66 inches and standard deviation 0.025 inch. a. What is the probability that a single rod will be within specification limits? Round your answer to three decimal places, if necessary. b. What is the probability that at least 90 of 100 rods will be within specification limits? Round your answer to three decimal places, if necessary. c. SteelCo's best customer currently buys 200 of these rods each day and pays the company $20 apiece. However, it gets a $40 refund for each rod that doesn't meet specifications. What is SteelCo's current expected profit per day? Round your answer to the nearest whole dollar, if necessary. How small would its standard deviation need to be before it would net an expected $3,900 per day? Round your answer to three decimal places, if necessary.

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Solution Given Specification Limits 956 inches to 957 inches Let X ... View the full answer