In a Manufacturing Process Involving Several Machines, the Average Down

question 334

Multiple Choice

In a manufacturing process involving several machines, the average down time t (in hours) for a machine that needs repair has the probability density function . Find the probability that a failed machine's down time is 4 hours or more. Round your answer to three decimal places. ​

• A) 0.865
• B) 0.998
• C) 0.145
• D) 0.135
• E) 0.002

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Definitions:

Total Revenue

The total amount of money a firm receives from selling its goods or services.

Price Elasticity

The impact of price adjustments on the quantity of a good demanded measured.

Total Expenditures

The total amount of money spent by individuals or firms on goods and services within a specific period.

Price Elasticity

A measure in economics that shows how the quantity demanded of a good or service responds to a change in its price.