A company buys microchips from three suppliers I, II and III. Supplier I has a record of providing microchips that contain 10% defective; supplier it has a defective rate of 5% and supplier III has a defective rate of 3%. Suppose 10%, 40% and 50% of the current supply came from suppliers I, II and III, respectively. If a randomly selected microchip is defective, what is the probability that it came from supplier II? Express your answer accurate to two decimal places. O 48 O.40 O something else O 44 O 41
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Let A be the I supplier
B be the II supplier
C be the event III supplier
E be the microchip is defective
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- The principle of redundancy is used when system reliability is improved through redundant or backup components. Assume that a student's alarm clock has a 5.6% daily failure rate. Complete parts (a) through (d) below. a. What is the probability that the student's alarm clock will not work on the morning of an important final exam? b. If the student has two such alarm clocks, what is the probability that they both fail on the morning of an important final exam? c. What is the probability of not being awakened if the student uses three independent alarm clocks? d. Do the second and third alarm clocks result in greatly improved reliability? A. No, because the malfunction of both is equally or more likely than the malfunction of one. B. No, because total malfunction would still not be unlikely. C. Yes, because total malfunction would not be impossible, but it would be unlikely. D. Yes, because you can always be certain that at…A store specializing in mountain bikes is to open in one of two malls. If the first mall is selected, the store anticipates a yearly profit of $1,425,000 if successful and a yearly loss of $475,000 otherwise. The probability of success is 1. If the second mall is selected, it is estimated that the yearly profit will be $950,000 if successful; 3 otherwise, the annual loss will be $285,000. The probability of success at the second mall is Complete parts (a) through (c) below 4 - a. What is the expected profit for the first mall?3. A retailer sells two brands of batteries that experience indicates are equal in demand. If he stocks two of each brand (which means he has 4 batteries in his store), what is the probability that a customer seeking to purchase two batteries, purchases the same brand? 1/3 2/3 01/2 1/4
- A firm plans to bid $. 300 per kg. For a contract to supply 1,000 kg. Of a metal. It has two competitors A and B and it assumes that the probability that A will bid less than $. 300 per kg. Is 0.3 and that B will bid less than $ 300 per kg. Is 0.7. If the lowest bidder gets all the business and the firms bid independently, what is the expected value of the contract to the firm?In automotive repair, experience has shown that a rough - running engine can be attributed to the bad ignition wires 35% of the time, bad spark plugs 80% of the time, and both problems 20% of the time. Suppose a mechanic begins to diagnose the problem by checking the spark plugs first and find them to be bad. Given this information, what is the probability that the wires are also bad?The proprietor of Midland Construction Company has to decide between two projects. He estimates that the first project will yield a profit of $160,000 with a probability of 0.7 or a profit of $120,000 with a probability of 0.3; the second project will yield a profit of $220,000 with a probability of 0.6 or a profit of $70,000 with a probability of 0.4.Find the expected profit for each project. first project $ second project $ Which project should the proprietor choose if he wants to maximize his expected profit? first project second project
- 1. Researchers are interested in the relationship between vaping and upper respiratory infections. Suppose that 15% of their population of interest has vaped in the past year and 25% have had an upper respiratory infection in the past year. In addition, they know that 10% have both vaped and had an upper respiratory infection in the past year. What percent of the population has neither vaped nor had an upper respiratory infection in the past year? b. What is the probability of having an upper respiratory infection in the past year given that the person has vaped in the past year? What is the complement of the event in part b)? Be sure to interpret this probability in the context of the problem. a. C. d. What is the probability of having an upper respiratory infection in the past year given that the person has not vaped in the past year? Are the two events independent? Be sure to justify your answer. Based on your calculations what can you conclude about the relationship between vaping…3. You get a haircut from Barber Shop 1 30% of the time and Barber Shop 2 70% of the time. Barber Shop 1 gives a good haircut 80% of the time and a bad haircut 20% of the time while Barber Shop 2 gives a good haircut 90% of the time and a bad haircut 10% of the time. For any given haircut, the probability that it is a bad haircut from Barber Shop 1 is Barber Shop 2 is and the probability that it is a good haircut from O.06; .63 .2; .73 O.06; .73 .2; .63A gas station has three grades of fuel, regular, premium and diesel. Due to problems with the supply chain, the probabilities that the station will run out of any three fuel types in a week are 0.10, 0.16 and 0.24, respectively. These probabilities are statistically independent. Also, if there is a shortage of diesel, the probability of a shortage of premium becomes 0.25. 1. How likely is the station to run out of all three fuels in a given week? 2. What is the probability that if regular runs out, both premium and diesel will also run out? 3. What is the probability that the station will run out of at least one of either premium and diesel? 4. What is the probability that the station will run out of at least 2 of the fuels in a week?
- An insurance company calculates car insurance company calculates car insurance premiums based on the age of the policyholder according to three age groups: Group A consists of drivers younger than 22 years old; Group B consists of drivers 22—33 years old, and Group C consists of drivers older than 33 years.Its portfolio consists of 10% Group A policyholders, 38% Group B policyholders and 52% Group C policyholders. The probability of a claim in any 12 month period for a policy belonging to Group A, B or C is 13%, 3% and 2%, respectively. (i) Calculate the probability that a randomly chosen policy holder from this portfolio will make a claim during a 12 month period. One of the company’s policyholders has just made a claim(ii) Calculate the probability that the policy holder is younger than 22 years.Maximus Steel plans to introduce one of three new products code-named: Wren, Hawk, and Nightingale. The marketing department indicated that the success of any product depends on the market conditions (Favorable, Neutral, or Unfavorable). The profit the company will earn also depends on the market conditions. The table below shows the probability estimated for each market condition and the profits Maximus Steel will realize within those conditions: Product Code Market Conditions Favorable P = 0.2 Neutral P = 0.7 Unfavorable P = 0.1 Wren $120,000 $70,000 ($30,000) Hawk $60,000 $40,000 $20,000 Nightingale $35,000 $30,000 $30,000 Maximus Steel is considering hiring a market research firm to do a survey to determine future market conditions. The results of the survey will indicate either positive or negative market conditions. There is a 0.60 probability of a positive report, given favorable conditions; a 0.30 probability of a positive…