Find mean and standard deviation of total weekly cost

Reference no: EM13121785

A widget manufacturer estimates that the total weekly cost in dollars, C, to produce x widgets is given by the linear function C(x) = 500 + 10x, where the intercept 500 represents a "fixed" cost of manufacture and the slope 10 represents the "variable" cost of producing a certain number of widgets. Analysis of weekly widget production reveals that the number of widgets X produced in a week is a random variable with mean μX = 200 and standard deviation σX = 20. What are the mean and the standard deviation of C?

Reference no: EM13121785

Questions Cloud

Explain this in terms the client would understand : A 68-year-old male is admitted to the hospital for emphysema. He is hypoxic and his labs reveal low oxygen levels. His hematocrit is 65%.

Compute the new macro equilibrium : Compute the new macro equilibrium under the assumption that the central bank does not respond to this shock and explain how the central bank could choose to validate this shock. Alter the AD curve to build this "validation" into the model and comput..

The first letter that falls off is m : The sign "I LOVE MATHEMATICS" is put on the wall of the mathematics building at South Central Carolina Technical College.

Defined contribution and benefit pension plans : Explain the difference between defined contribution and defined benefit pension plans. Defined contribution plans are becoming much more popular vs. defined benefit plans. Why is this?

Find mean and standard deviation of total weekly cost : Analysis of weekly widget production reveals that the number of widgets X produced in a week is a random variable with mean μX = 200 and standard deviation σX = 20. What are the mean and the standard deviation of C?

What was the percent copper in the ore : an 8 g sample of a copper ore was dissolved in an acid solution and then reacted with NO3- from a KNO3 salt solution. it required 71.5 ml of a .155 M KNO3 solution to fully react the copper in the ore sample.

What is the coefficient of confidence : What is the recombinant frequency between a and b? Between b and c? (Remember there is no crossing over in drosophila males).

Prepare journal entries to record : Incurred expenses of $220,000 for its alcohol rehabilitation program but paid the expenses from unrestricted resources, not from available restricted resources.

Filling an aquarium tank : An aquarium tank can hold 7700 liters of water. There are two pipes that can be used to fill the tank. The first pipe alone can fill the tank in 77 minutes.

User Account

All Pages