I need some help. Here's the info:
A Board of trustees has allocated $400,000 for new beds in three hospital wards.
----------------Obstetrics Surgery Pediatrics
Mean # of
beds used per day: 24______13__________19
Std. Deviation: 6.1_________4.3_________4.7
Present Capacity: 30________20________24
Cost of adding 1 bed:$20,000 $26,000 $15,500
It is possible for a ward to exceed its capacity, but, according to state guidelines, this should not occur more than 5% of the time.
I need to find
1)The probabilty that the demand for beds exceeds capacity in obstetrics.
2)I need to answer the following questions:
How many beds should be available in each of the wards?(given the state guidelines)
Has enough money been set aside to achieve this?
How much money is required to add the beds necessary to be in compliance with the state?
Also, if someone can explain what i need to use on a TI-83 calculator to solve this I would be very greatful.
Sorry about the weird looking data table I couldn't get it to fit right.(I attached a copy in Word if it can't be deciphered)