Question

In: Statistics and Probability

One timber company claims that the amount of usable lumber in the trees being harvested in...

One timber company claims that the amount of usable lumber in the trees being harvested in ClearCut is approximately normally distributed, with a mean of 256 cubic feet per tree and a standard deviation of 42 cubic feet.

a) What is the probability that the amount of usable lumber in a randomly selected tree is less than 250 cubic feet?

b) If a decision is made not to harvest the smallest 20% of the trees, they will be harvested when they are bigger. What is the smallest size of tree allowed to be cut?

c) If 49 trees are randomly selected from ClearCut, what is the probability that the average amount of usable lumber in the 49 selected trees is less than 250 cubic feet?

Solutions

Expert Solution

Solution :

Given that ,

mean = = 256

standard deviation = = 42

a) P(x < 250)

= P[(x - ) / < (250 - 256) / 42]

= P(z < -0.14)

Using z table,

= 0.4443

b) Using standard normal table,

P(Z < z) = 20%

= P(Z < z ) = 0.20

= P(Z < -0.84 ) = 0.20  

z = -0.84

Using z-score formula,

x = z * +

x = -0.84 * 42 + 256

x = 220.72

c) n = 49

=   = 256

= / n = 42 / 49 = 6

P( < 250) = P(( - ) / < (250 - 256) / 6 )

= P(z < -1.00)

Using z table

= 0.1587


Related Solutions

Timber Resource Inc., a forestry company, owns timber resources in northern Quebec. The company produces lumber...
Timber Resource Inc., a forestry company, owns timber resources in northern Quebec. The company produces lumber from these resources. During 20X3, the company cut trees into logs with a fair market value of $600,000. The selling costs estimated at the time were 5% of fair value. At the end of the year, about 20% of these logs have not yet entered production. The 80% that have entered production required $175,000 of production costs to produce lumber into fixed cut lengths...
1. At the beginning of 2021, Terra Lumber Company purchased a timber tract from Boise Cantor...
1. At the beginning of 2021, Terra Lumber Company purchased a timber tract from Boise Cantor for $4,200,000. After the timber is cleared, the land will have a residual value of $600,000. Roads to enable logging operations were constructed and completed on March 30, 2021. The cost of the roads, which have no residual value and no alternative use after the tract is cleared, was $240,000. During 2021, Terra logged 500,000 of the estimated five million board feet of timber....
Suppose that furniture production encompasses the following stages: Stage 1: Trees are sold to lumber company....
Suppose that furniture production encompasses the following stages: Stage 1: Trees are sold to lumber company. Stage 2: Lumber is sold to furniture company. $ 1,000 $ 2,500 Stage 3: Furniture company sells furniture to retail store. $ 6,000 Stage 4: Furniture store sells furniture to consumer. $12,000 (a) What is the value added at each stage? (b) How much does this output contribute to GDP? (c) How would answer (b) change if the lumber were imported from Canada
A small landscaping company buys rocks and lumber. One of the project managers is responsible for...
A small landscaping company buys rocks and lumber. One of the project managers is responsible for ordering the lumber, which he does by calling up the lumber dealer and ordering a shipment over the phone. No purchase order is used. The lumber dealer delivers lumber directly to the job site and invoices the company once a month, on one bill. Is there an Internal Control Issue in this situation? What is it? What principles, if any are violated? What are...
The Good Taste ice cream company claims that the amount of ice cream in a container...
The Good Taste ice cream company claims that the amount of ice cream in a container marked 55 ounces is normally distributed with a mean of 54 ounces and a standard deviation of 0.45 ounces. A random sample of 40 ice-cream containers found a sample mean of 53.4 ounces with a sample deviation of 2.45 ounces. a) Find the 98% confidence interval for the population mean ounces in the ice-cream container. [Round to 4 decimal places.] b) Does you evidence...
A company claims that a new manufacturing process changes the mean amount of aluminum needed for...
A company claims that a new manufacturing process changes the mean amount of aluminum needed for cans and therefore changes the weight. Independent random samples of aluminum cans made by the old process and the new process are taken. The summary statistics are given below. Is their evidence the 5% significance level (or 95 confidence level) to support the claim that the mean weight for all old cans is different than the mean weight for all new cans ?Justify fully!...
A company claims that a new manufacturing process changes the mean amount of aluminum needed for...
A company claims that a new manufacturing process changes the mean amount of aluminum needed for cans and therefore changes the weight. Independent random samples of aluminum cans made by the old process and the new process are taken. The summary statistics are given below. Is there evidence at the 5% significance level (or 95% confidence level) to support the claim that the mean weight for all old cans is different than the mean weight for all new cans? Justify...
A company which produces jelly beans claims that the amount, in ounces, of jelly beans in...
A company which produces jelly beans claims that the amount, in ounces, of jelly beans in their bags is uniformly distributed on the interval 14 to 18 ounces. (a) On average, how many ounces of jelly beans are there in a bag? What is the standard deviation? (b) Assuming that the claim of the company is true, what is the probability that a randomly selected bag contains less than 16.25 ounces? c) A consumer watch group wants to investigate the...
Mr. Don Wood is one of five production supervisors at the Treetop Lumber Company. The employees...
Mr. Don Wood is one of five production supervisors at the Treetop Lumber Company. The employees he supervises are responsible for processing walnut logs into high-quality lumber. The process includes loading and unloading the lumber, stacking, sawing, and kilning (drying the lumber in heat controlled kilns). Each employee is assigned to one aspect of the process; example unloading the wood. Work in the sawmill subjects the employees to considerable amount of dust and noise. While working in the lumberyard the...
Frey talks about the value of life being determined by the amount of enrichment one does...
Frey talks about the value of life being determined by the amount of enrichment one does in their lifespan. How is the value of life determined?
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT