Assignment:
A local newsletter is printed on a printer with a cartridge that may break or run out of ink during operation. The cartridges can be replaced for $7.50, but if they fail when the newsletter is being printed, the cost is estimated to be $25 because of the delay in publication. The failure distribution of the cartridges is
|
Weeks of Use
|
Probability of Failure
|
|
1
|
.1
|
|
2
|
.2
|
|
3
|
.3
|
|
4
|
.4
|
Determine the optimal time to replace the cartridges.
Provide complete and step by step solution for the question and show calculations and use formulas.