PortaCom has developed a design for a high-quality portable printer. The two key components of manufacturing cost are direct labor and parts. During a testing period, the company has developed prototypes and conducted extensive product tests with the new printer. PortaCom’s engineers have developed the bivariate probability distribution shown below for the manufacturing costs. Parts cost (in dollars) per printer is represented by the random variable x and direct labor cost (in dollars) per printer is represented by the random variable y. Management would like to use this probability distribution to estimate manufacturing costs.
Parts (x) | Direct Labor (y) 43 45 48 |
Total | ||
85 | 0.05 | 0.2 | 0.2 | 0.45 |
95 | 0.25 | 0.2 | 0.1 | 0.55 |
Total | 0.30 | 0.4 | 0.3 | 1.00 |
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