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What are the long-term monthly cost savings

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Reference no: EM132790046

A company currently experiences 330 errors in its processing each month. Performance figures for a new artificial intelligence solution are shown below:

Probability         Monthly errors

0.2                       150
0.3                       200
0.4                         250
0.1                            280

Problem 1: Given that each error costs the company $125 to rectify, what are the long-term monthly cost savings that will arise from the purchase of the new machine?

Reference no: EM132790046

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