12) Thirty six percent of all assembly line mechanical robots are claimed for services by the technicians to be sent out to the manufacturer all under the issued warranty at the time of purchase. Out of these robots sent under warranty, 45% will be repaired and sent back to the factory and 55% will be replaced under warranty at no cost. Suppose the company you are working for recently ordered 15 of these mechanical robots. The CEO agreed to sign a five years purchasing contract if only the probability of sending back three of these robots are LESS than 0.24 during the life of the contract. Will she approve the purchasing contact? [Hint: you are trying to find the probability of exactly three robots will eventually be replaced under warranty as she will not sign off if such probability for three is more than 24%.]
Addition Rule of Probability
It simply refers to the likelihood of an event taking place whenever the occurrence of an event is uncertain. The probability of a single event can be calculated by dividing the number of successful trials of that event by the total number of trials.
Expected Value
When a large number of trials are performed for any random variable ‘X’, the predicted result is most likely the mean of all the outcomes for the random variable and it is known as expected value also known as expectation. The expected value, also known as the expectation, is denoted by: E(X).
Probability Distributions
Understanding probability is necessary to know the probability distributions. In statistics, probability is how the uncertainty of an event is measured. This event can be anything. The most common examples include tossing a coin, rolling a die, or choosing a card. Each of these events has multiple possibilities. Every such possibility is measured with the help of probability. To be more precise, the probability is used for calculating the occurrence of events that may or may not happen. Probability does not give sure results. Unless the probability of any event is 1, the different outcomes may or may not happen in real life, regardless of how less or how more their probability is.
Basic Probability
The simple definition of probability it is a chance of the occurrence of an event. It is defined in numerical form and the probability value is between 0 to 1. The probability value 0 indicates that there is no chance of that event occurring and the probability value 1 indicates that the event will occur. Sum of the probability value must be 1. The probability value is never a negative number. If it happens, then recheck the calculation.
![12) Thirty six percent of all assembly line mechanical robots are claimed for services by the technicians to be
sent out to the manufacturer all under the issued warranty at the time of purchase. Out of these robots sent
under warranty, 45% will be repaired and sent back to the factory and 55% will be replaced under warranty
at no cost. Suppose the company you are working for recently ordered 15 of these mechanical robots. The
CEO agreed to sign a five years purchasing contract if only the probability of sending back three of these
robots are LESS than 0.24 during the life of the contract. Will she approve the purchasing contact? [Hint:
you are trying to find the probability of exactly three robots will eventually be replaced under warranty as
she will not sign off if such probability for three is more than 24%.]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdc0036ef-3b4a-4ef3-a620-3f0dc2c359da%2Ff939996a-de67-40a6-9b25-04146424f147%2F7rh2wj_processed.jpeg&w=3840&q=75)
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