You have a factory with 40 production machines that are essentially identical, each producing at a mean
Question:
a. Find the mean of this random variable. Compare it to the mean for a single machine.
b. Find the standard deviation of this random variable. Compare it to the standard deviation for a single machine.
c. What is the approximate probability distribution of this random variable? How do you know?
d. Find the (approximate) probability that your average daily production per machine will be more than 102 products tomorrow.
e. Find the (approximate) probability that your average daily production per machine will be between 97 and 103 products tomorrow. Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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a The mean is 100 The mean of the average is the same as the mean of the individual mach...View the full answer
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