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Question $10$

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Question text

A manager intends to order a new machine and must now decide on the number of spare parts to order along with the machine. The parts cost $$428$ each and have no salvage value. The manager has compiled the frequency distribution for the probable usage of spare parts:$9$ spare parts with frequency $0\mathrm{.}19$;$10$ spare parts with frequency $0\mathrm{.}07$;$11$ spare parts with frequency $0\mathrm{.}13$;$12$ spare parts with frequency $0\mathrm{.}12$; and $13$ spare parts with frequency $0\mathrm{.}49.$ For what range of shortage costs would stocking $11$ spare parts constitute an optimal decision $?$

Question $10$Answer

a$.$

Between $150\mathrm{.}4$and $273\mathrm{.}6$

b$.$

Between $225\mathrm{.}6$and $410\mathrm{.}5$

c$.$

Between $75\mathrm{.}19$and $136\mathrm{.}8$

d$.$

Between $180\mathrm{.}5$and $328\mathrm{.}4$