What is the annual cost of fixing plus scrapping

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In Pullman, one of the largest engineering firms is Schweitzer Engineering Labs (SEL). One of the products they produce is 1000 μm diameter fiber optic cables. The tolerance for the diameter is ± 0.0015 μm. Assume the process is normally distributed with a mean of 1000 μm and variance, σ^2= 0.00000075. Any cable with a diameter smaller than the lower spec limit is scrapped at a cost of $1. Any cable with a diameter above the upper spec limit is fixed for a cost of $0.75 per cable. Assuming that 100 cables are produced per day and that there are 250 working days per year, what is the annual cost of fixing plus scrapping?

Reference no: EM131034497

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