(b)A company is tendering for 6 new contracts. Penalties will be applied ifany of the contracts are not completed on time. The cost due to notcompleting a contract on time must be accounted for in the tenderprice. In recent years, this company has completed 20 similarcontracts, of which 2 were not completed on time. Assuming that theproportion of contracts that are completed on time remains constantand follows a Binomial distribution,(1)Calculate the probability that all 6 of the new contracts arecompleted on time.(i) Calculate the probability that none of the new contracts arecompleted on time.(i)Calculate the probability that fewer than 5 of the new contractsare completed on time.

From the provided information, Sample size (n) = 6 2 out of 20 contracts were not completed on time,…

Answered: A company is tendering for 6 new…

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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Similar questions

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If you know that every 30 minutes, a plane takes off from Jeddah Airport to Riyadh Airport, starting at 10 am. If a group of passengers arrives at Jeddah airport at a time that follows the regular continuous distribution between 6:00 a.m. and 7:30 a.m., then what is the likelihood that passengers wait for the plane less than 15 minutes
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During the 1971-72 season, the Los Angeles Lakers won 69 games and lost 13. Assuming that the outcomes of the basketball games are independent and that the percentageof wins this season will be the same as in 1971-1972, answer the following questions: (a) What is the probability that the Lakers will win the first twogames of the season? (b) What is the probability that the Lakers will win the first sevengames of the season?

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