Find the mean and variance of the total repair cost

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Refer to Exercise 5.69. The company purchasing the machines returns the defective ones for repair. If it costs $50 to repair each machine, find the mean and variance of the total repair cost. In what interval would you expect the repair costs on these five machines to lie? [Hint: Use Tchebysheff's Theorem.]

Exercise 5.69

A warehouse contains 10 printing machines, 4 of which are defective. A company randomly selects five of the machines for purchase. What is the probability that all five of the machines are non-defective?

Reference no: EM131196779

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