Answer Happy

College of Business OPM 370 -QUALITY MANAGEMENT ASSIGNMENT (out of 6) Faculty: Dr. Rami Bustami June 2, 2022 Instructions: Print this 2-page document. Write your name and ID in each page. Use Excel to provide answers in handwriting in the table below and for questions (a) and (b). Scan your completed document (or take a picture of it) and name it: Last name ASSIGN_OPM370.PDF. Also, name your Excel file: Last name ASSIGN_OPM370.XLSX. Both this completed document and the Excel file must be uploaded via Moodle using the submission folder named "Submission Folder For Assignment by 6:00 PM, Tuesday, June 7, 2022 Consider an electronics manufacturer who is planning to establish a warranty policy for one of its newly manufactured products. Suppose the mean life of the product is 46 months, with a standard deviation of 4 months. Use the cumulative normal distribution to determine the probability of failure and probability of survival (reliability) in the table below. Product life, P(failure) P(survival) months. 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 a) (3 points) What is the expected loss if a 40-month warranty is established and the manufacturer sold 200 items of the product and the replacement cost is $200 per item? Show calculations. Page 1 of 2
College of Business OPM 370 -QUALITY MANAGEMENT ASSIGNMENT (out of 6) Faculty: Dr. Rami Bustami b) (3 points) What is the expected loss if a 36-month warranty is established and the manufacturer sold 150 items of the product and the replacement cost is $250 per item? Show calculations. June 2, 2022