Q54 The lifespan of a refrigerator made by General Electric (GE) costing $1070 has a mean life of 3.19 years, exponentia
Posted: Tue Apr 26, 2022 5:59 pm
Q54
The lifespan of a refrigerator made by General Electric (GE)
costing $1070 has a mean life of 3.19 years, exponentially
distributed. GE agrees to pay a full refund (100%) to a buyer if
the refrigerator breaks during the first six months following its
purchase and a 50% refund if it breaks during months 6-12. There is
no refund for refrigerator that break after 12 months.
If GE sells 240 refrigerator, how much should it expect to pay in
refunds?
$ (Round to two decimal places)
The lifespan of a refrigerator made by General Electric (GE)
costing $1070 has a mean life of 3.19 years, exponentially
distributed. GE agrees to pay a full refund (100%) to a buyer if
the refrigerator breaks during the first six months following its
purchase and a 50% refund if it breaks during months 6-12. There is
no refund for refrigerator that break after 12 months.
If GE sells 240 refrigerator, how much should it expect to pay in
refunds?
$ (Round to two decimal places)