Should the laundromat switch to the new repair service

Assignment Help Basic Statistics
Reference no: EM132372652

The Quick Wash 24-hour Laundromat has 16 washing machines. A machine breaks down every 20 days (exponentially distributed). The repair service with which the Laundromat contracts takes an average of 1 day to repair a machine (exponentially distributed). A washing machine averages $5 per hour in revenue. The Laundromat is considering a new repair service that guarantees repairs in 0.50 day, but it charges $10 more per hour than the current repair service. Should the Laundromat switch to the new repair service?

Reference no: EM132372652

Questions Cloud

Standard deviations below the mean : What is the height for a female who is 3 standard deviations below the mean? Would this be a rather unusual height? Why explain
Data communication and networking infrastructure : Evaluate and assess hardware and software requirements of a data communication and networking infrastructure - provide data communication and networking
Determine the probability that a random sample : ?Determine the probability that a random sample of 40 adults results in a mean time watching television on a weekday of between 2 and 3 hours.
Difference in credit card debt today versus five years ago : In a random sample of 50 Americans five years ago (Group 1), the average credit card debt was $5,798. In a random sample of 50 Americans
Should the laundromat switch to the new repair service : The Laundromat is considering a new repair service that guarantees repairs in 0.50 day, but it charges $10 more per hour than the current repair service.
What is the shape of the sampling distribution : What is the shape of the sampling distribution of the sample mean? Why?
How does the christian worldview address : Create a 15-20 slide presentation for your faith community that guides a discussion and ethical response to the chosen issue.
Develop a planning value : Is this something that can be calculated in excel? If yes, please include excel formula's/functions. Thanks.
Identify specific leadership behaviours and apply relevant : MBA6140-Evaluate a variety of advanced leadership and stakeholder management concepts, theories and frameworks and their application to effective practice.

Reviews

Write a Review

Basic Statistics Questions & Answers

  What were the investigators aims and objectives

STAT9702 Statistical Methods for Engineering and Science Assignment. What were the investigators' aims and objectives? If they are not stated explicitly in the paper, what do you think they were? What is an appropriate target/reference population for..

  Probability mary and ellen make a total number of free throw

What is the probability Mary and Ellen make a total number of free throws at least as great as the total made by the guys?

  What percentage of the population are working age adults

12.6% are age 65 and over. Approximately what percentage of the population are working age adults (above age 17 to age 65)?

  Compute the mean and variance

Modify the regular one-sample Wilcoxon W by replacing the ranks 1, 2, 3, 4, 5, 6, 7, 8 by the scores 1, 1, 2, 2, 2, 2, 3, 3, to obtain W1. Compute the mean and variance of W1.

  Find the mean of this sampling distribution of sample means

a random sample of size 81 is to be selected from a population that has a mean of 95 and a standard deviation of 15.a.

  Canonical form with integral coefficients

When n = 2, how many distinct knapsack sets are there? Write them out in a canonical form with integral coefficients and 1 = [EQUATION4].

  A brand of television has a lifetime that is normally

a brand of television has a lifetime that is normally distributed with a mean of 7 years and a standard deviation of

  How much should your client pay for this business

Based on this information, how much should your client pay for this business?

  Independent alternators to provide electrical power

A certain airplane has two independent alternators to provide electrical power. The probability that a given alternator will fail on a 1-hour flight is .02. What is the probability that (a) both will fail? (b) Neither will fail? (c) One or the oth..

  Valve performs above the speci?cations

Assume the variance is known to be 0.49. Is there evidence at the 0.05 level that the valve performs above the speci?cations?

  Population proportion of adults

A researcher wishes to estimate, with 95% confidence, the population proportion of adults who say chocolate is their favorite ice cream flavor. Her estimate must be accurate within 3% of the population proportion.

  Create a model that describes given trend

The National Center for Health Statistics reported the data below, showing the percentage of all births that are to unmarried women for selected years between 1980 and 1998.- Create a model that describes this trend. Justify decisions you make abou..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd