In a Manufacturing Model,we Might Simulate the Number of Days

question 36

Multiple Choice

In a manufacturing model,we might simulate the number of days to produce a batch and the yield from each batch.The number of days would typically be a ___________ distribution and the yield would be a ___________ distribution.

• A) Continuous,discrete
• B) Continuous,continuous
• C) Discrete,continuous
• D) Discrete,discrete
• Amanda is a recent college graduate,and has just started her first job.She would like to know if she saves $5,000 per year out of her salary over the next 30 years what the distribution of the value of her retirement fund after 30 years.She has decided that she will invest all her money in the stock market that she estimates has a return that is normally distributed with mean 12% per year and standard deviation 25%.

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Definitions:

Machine-Related

Machine-related refers to costs, activities, or operations directly associated with the machinery used in production or manufacturing processes.

Quality Costs

Expenses associated with preventing, detecting, and correcting defective work, including costs of quality control measures and rework.

Direct Material Costs

The costs of raw materials or components that are directly traceable to a finished product.

Prevention Costs

Expenses incurred to prevent or minimize the number of defects in the manufacturing process.