(a) Show the marginal distribution of direct labor cost and compute its expected value (in dollars), variance, and standard deviation (in dollars). (Round your answer for standard deviation to the nearest cent.) Marginal Distribution of Direct Labor Cost y f(y) yf(y) y − E(y) (y − E(y))2 (y − E(y))2f(y) 43 45 48 Var(y) = E(y) = dollars σy = dollars
(a) Show the marginal distribution of direct labor cost and compute its expected value (in dollars), variance, and standard deviation (in dollars). (Round your answer for standard deviation to the nearest cent.) Marginal Distribution of Direct Labor Cost y f(y) yf(y) y − E(y) (y − E(y))2 (y − E(y))2f(y) 43 45 48 Var(y) = E(y) = dollars σy = dollars
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter13: Probability And Calculus
Section13.CR: Chapter 13 Review
Problem 6CR
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A company has developed a design for a high-quality portable printer. The two key components of manufacturing cost are direct labor and parts. During a testing period, the company has developed prototypes and conducted extensive product tests with the new printer. The company's engineers have developed the bivariate probability distribution shown below for the manufacturing costs. Parts cost (in dollars) per printer is represented by the random variable x and direct labor cost (in dollars) per printer is represented by the random variable y. Management would like to use this probability distribution to estimate manufacturing costs.
| Parts (x) | Direct Labor (y) | Total | ||
|---|---|---|---|---|
| 43 | 45 | 48 | ||
| 85 | 0.2 | 0.05 | 0.2 | 0.45 |
| 95 | 0.25 | 0.1 | 0.2 | 0.55 |
| Total | 0.45 | 0.15 | 0.4 | 1.00 |
(a)
Show the marginal distribution of direct labor cost and compute its expected value (in dollars), variance, and standard deviation (in dollars). (Round your answer for standard deviation to the nearest cent.)
Marginal Distribution of Direct Labor Cost
| y |
f(y)
|
yf(y)
|
y − E(y)
|
(y − E(y))2
|
(y − E(y))2f(y)
|
|---|---|---|---|---|---|
| 43 | |||||
| 45 | |||||
| 48 | |||||
|
Var(y) =
|
|||||
|
E(y) = dollars
|
σy = dollars
|
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