60. Bread baking. The number of loaves of bread, N, bakedeach day by Fireside Bakers is normally distributed withmean 1000 and standard deviation 50. The bakery paysbonuses to its employees on days when at least 1100loaves are baked. On what percentage of days will thebakery have to pay a bonus?Manufacturing. In an automotive body-welding line, delaysencountered during the process can be modeled by variousprobability distributions. (Source: R. R. Inman, “EmpiricalEvaluation of Exponential and Independence Assumptions inQueueing Models of Manufacturing Systems," Production andOperations Management, Vol. 8, 409–432 (1999).)

Given: Meanμ=1000Standard deviation (σ)=50 X follows normal distribution

Answered: 60. Bread baking. The number of loaves…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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2
You are trying to develop a strategy for investing in two different stocks. The anticipated annual return for a $1,000 investment in each stock under four different economic conditions has the probability distribution shown to the right. Table of values is given in picture. A.Compute the expected return for stock X and stock Y. B.Compute the standard deviation for stock X and stock Y. C.Would you invest in Stock Y or Stock X.?
Let X = {Email, In Person, Instant Message, Text Message}; P(Email) = 0.06 P(In Person) = 0.55 P(Instant Message) = 0.24 P(Text Message) = 0.15 Is this model a probability distribution? A. Yes. B. No. C. Maybe.
2. Statistical measures of stand-alone risk Remember, the expected value of a probability distribution is a statistical measure of the average (mean) value expected to occur during a possible circumstances. To compute an asset's expected return under a range of possible circumstances (or states of nature), multiply the anticipated return expected to result during each state of nature by its probability of occurrence. Consider the following case: Ethan owns a two-stock portfolio that invests in Happy Dog Soap Company (HDS) and Black Sheep Broadcasting (BSB). Three- quarters of Ethan's portfolio value consists of HDS's shares, and the balance consists of BSB's shares. Each stock's expected return for the next year will depend on forecasted market conditions. The expected returns from the stocks in different market conditions are detailed in the following table: Market Condition Probability of Occurrence Happy Dog Soap Black Sheep Broadcasting Strong 0.50 50% 70% Normal 0.25 30% 40% Weak…
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3
A. Recent crime reports indicate that 0.5 motor vehicle thefts occur each minute in an industrial area. Assume that the distribution of thefts per minute can be approximated by the Poisson probability distribution. i. What is the average number of motor vehicle thefts occurring in five minutes? ii. Find the probability exactly three motor vehicle thefts occur in five minutes. Note: 1.Please clear answer no (i,ii) 2. No need excel formula.
On average, you receive 2.6 pieces of junk mail a day. Assume that the number of pieces of junk mail you receive each day follows the Poisson distribution What is the probability of receiving more than three pieces of junk mail today? O a. 0.2939 O b. 0.2639 O c. 0.2693 d. 0.2369
The table below summarizes the responses from the experts. For instance, eleven of the fifty experts believe Ghana will record a 2% GDP growth for the coming year. Growth (%) Number of Experts 2 11 5 8 7 13 8 10 10 6 12 2 i. Develop a probability distribution for the growth in GDP for the coming year. ii. What are the expected value and variance for growth in GDP for the coming year?

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