A machine produces an average of 500 parts per day with a standard deviation of 10 parts. This is a normally distributed variable. The percent of defective parts ranges from 8-12%. Parts which need minor repair comprise 75% of the defective parts and cost $5 to repair. The rest of the defective parts cost $20 to repair. What formulas should go in cells B8:B15 to compute the daily cost of defective parts?
Definitions:
Review
A critical evaluation or analysis of something, such as a publication, performance, or financial account, often for the purpose of informing decisions or improvements.
Appellant
A person who appeals a court's decision, seeking a review and possible reversal of that decision by a higher court.
Appeal
A legal procedure in which a case is brought before a higher court for review of the lower court's decision.
Review
The process of examining or assessing something with the possibility or intention of instituting change if necessary.
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