# quiz3-key - CHE 4253 Quiz 3 Instructor Dimitrios V...

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CHE 4253 - Quiz 3 Instructor: Dimitrios V. Papavassiliou October 24, 2006 Name:………………………. OU ID:……………………… Answer all questions and show your calculations, if any are necessary. 1. (15 points) If the profit probability density function is shown by the following figure, what is the Expected Profit for this process? What it the standard deviation of this probability density function and what is the coefficient of variation? Mean value= -2*0.05+(-1)*0.1+0*0.2+1*0.25+2*0.2+3*0.1+4*0.05+5*0.05=1.2 Standard deviation= [(-2-1.2) 2 *0.05+(-1-1.2) 2 *0.1+(0-1.2) 2 *0.2+(1-1.2) 2 *0.25+(2- 1.2) 2 *0.2+(3-1.2) 2 *0.1+(4-1.2) 2 *0.05+(5-1.2) 2 *0.05] 1/2 = [0.512+0.484+0.288+0.01+0.128+0.324+0.392+0.722] 1/2 =2.86 1/2 = 1.691 Coef. of variation = standard dev/mean value = 1.41 CHE 4253 Quiz-3, Page 1 of 3 Probability 0.3 0.2 0.1 -2 -1 0 1 2 3 4 5 Profit, \$10 5

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2. (10 points) A company must purchase a reactor to be used in an overall operation. Four reactors have been designed, all of which are equally capable of giving the required service. The
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quiz3-key - CHE 4253 Quiz 3 Instructor Dimitrios V...

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