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The average lifetime of a light bulb is 3,000 hours with a standard deviation of 696 hours. A simple random sample of 36 bulbs is taken.
a. What are the expected value, standard deviation, and shape of the sampling distribution of ?
b. What is the probability that the average life in the sample will be between 2,670.56 and 2,809.76 hours?
c. What is the probability that the average life in the sample will be greater than 3,219.24 hours?
d. What is the probability that the average life in the sample will be less than 3,180.96 hours?
Outside Supplier
A third-party company or entity that provides products or services to another company, often used when in-house production or provision is not feasible.
Relevant Cost
Costs that will be affected by a decision in the future and therefore should be considered in the decision-making process.
Direct Labor Cost
Expenses associated with the wages and benefits of employees who are directly involved in the manufacturing process.
Financial Advantage
The benefit obtained from making a particular financial decision, typically resulting in monetary gain or cost savings.
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