1) An electrical component for one of the main products your company produces is

Question

1)

An electrical component for one of the main products your company produces is specified to have an electrical impedance of 2.15 ohms. However, the manufacturing process is not perfect and there is some variation on the actual impedance of these components. A recent statistical study indicated that in fact, the impedances are normally distributed with a mean impedance of 2.15 ohms and a standard deviation of 0.05 ohms. When the impedance exceeds 2.25 ohms, the product malfunctions, so that component must be rejected and replaced by one whose impedance is within the acceptable limit. If you need 1350 usable components, how many components should you order?

1608

1422

1463

1385

1584

2)

The _____ ratio provides a metric to compare the amount of compensation an investor receives with regard to the overall risk being assumed by holding said investment.

normal

Sharpe

Chebyshev

absolute variance

Tukey

3)

As the variability of returns on investment increases, _____.

perceived risk decreases

perceived risk is unaffected

perceived risk increases

perceived risk decreases but then increases

perceived risk increases but then decreases

1608

1422

1463

1385

1584

Explanation / Answer

As per the chegg policy, we are advised to attempt one question at a time.

1. P(X > 2.25)

= P(z > (2.25 - 2.15)/0.05)

= P(z > 2)

= 0.0228

So,

2.28% of the components would be unusable. Hence,

(1 - 0.0228)*x = 1350

x = 1385

Option d is correct.

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