Show that density for m is exponential with mean
Let X1, X2, ..., Xn be n independent random variables each of which has an exponential density with mean µ. Let M be the minimum value of the Xj. Show that the density for M is exponential with mean µ/n. Hint: Use cumulative distribution functions.
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Chae Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,100 units.
A player wins 1 dollar if the number on the card is odd and loses 1 dollar if the number if even. What is the expected value of his winnings?
Ravalt Corporation uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process.
Borwan Company uses the weighted-average method in its process costing system. The Assembly Department started the month with 7,100 units in its beginning work in process inventory that were 70% complete with respect to conversion costs.
Let M be the minimum value of the Xj. Show that the density for M is exponential with mean µ/n. Hint: Use cumulative distribution functions.
Find the probability that a value randomly selected from this population will have a value greater than 130.
Millworks Company owns a milling machine that cost $125,00 and has accumulated depreciation of 91,000. Prepare the entry to record the disposal of the milling machine on Janurary 5 under each of the folling undependent situations.
Gardner Company produces plastic that is used for injection-molding applications such as gears for small motors. In 2013, the first year of operations, Gardner produced 4,000 tons of plastic and sold 2,500 tons.
How many seats must a train have to assure a probability of .99 or better of having a seat for each passenger?
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