A manager intends to order a new machine and must now decide on the number of spare part
Question: Question 8:
A manager intends to order a new machine and must now decide on the number of spare parts to order along with the machine. The parts cost $350 each and have no salvage value. If the manager does not have a spare part on hand it costs $650 in lost production. The manager has compiled a frequency distribution for the probable usage of spare parts, as shown. How many spare parts should the manager order?
No. of Spares | Frequency |
0 | .08 |
1 | .30 |
2 | .24 |
3 | .20 |
4 | .18 |
Price: $2.99
See Answer: The solution consists of 2 pages
Deliverable: Word Document![](/images/msword.png)
Deliverable: Word Document
![](/images/msword.png)