This exercise illustrates that poor quality can affect schedules and costs. A manufacturing process has 110customer orders to fill. Each order requires one component part that is purchased from a supplier. However,typically, 3% of the components are identified as defective, and the components can be assumed to beindependent.(a) If the manufacturer stocks 110 components, what is the probability that the 110 orders can be filled withoutreordering components?(b) If the manufacturer stocks 112 components, what is the probability that the 110 orders can be filled withoutreordering components?(c) If the manufacturer stocks 115 components, what is the probability that the 110 orders can be filled withoutreordering components?Round your answers to three decimal places (e.g. 98.765).(a) The probability is i(b) The probability isi(c) The probability is i

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Answered: This exercise illustrates that poor…

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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15 Assume that the fleet consists of 30 percent Lexus, 50 percent Infinity, and 20 percent Mercedes automobiles. 75 percent of the Lexus cars, 45 percent of the Infinities, and 40 percent of the Mercedes have CD players. Use this information to answer the following questions. (1) What is the probability that a randomly selected car has a CD player? (2) What is the probability that a randomly selected car either is a Mercedes or has a CD player?
An insurance policy costs $120 and will pay policyholders $9,000 if they suffer a major injury (resulting in hospitalization) or $3000 if they suffer a minor injury (resulting in lost time from work). The company estimates that 1 in every 2088 policyholders will suffer a major injury and that 1 in 504 will suffer a minor injury. a) Create a probability model for the profit on a policy. b) What's the company's expected profit on the policy? c) What's the standard deviation? a) First find the probability and profit for each outcome. P(event) Profit no injury major injury minor injury (Round to six decimal places as needed.)
1) A particular gadget contains 50 integrated circuits (ICs). The probability that any one of these ICs is defective is 0.02. The gadget will function only if there is no defective IC. What is the probability that the gadget will function?
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…
A company sends its products from 3 warehouses, namely from warehouse A=30%, warehouseB=20% and from warehouse C=50%. Based on complaints from customers, it is known thatthe percentage of defective products sent from each warehouse is as follows: A=3% , B= 5% and from warehouse C= 2%.a. Suppose a customer after ordering the product, the next dayComplained that the item was defective. What is the probability that the product receivedthe customer is from warehouse C? b. If another customer who also orders the product and getsthe goods are in good condition, what is the probability that the product received by the customerdoes it come from warehouse A?
An 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 consistsof 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 policyholdersand 52% Group C policyholders.The probability of a claim in any 12 month period for a policy belonging to GroupA, B or C is 13%, 3% and 2%, respectively.(i) Calculate the probability that a randomly chosen policy holder from thisportfolio 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.
6. An actuary studying the insurance preferences of automobile owners makes the following conclusions: (i) An automobile owner is twice as likely to purchase collision coverage as disability coverage. (ii) The event that an automobile owner purchases collision coverage is independent of the event that he or she purchases disability coverage. (iii) The probability that an automobile owner purchases both collision and disability coverages is 0.15. (a)Calculate the probability that an automobile owner purchases neither collision nor disability coverage. (b) Calculate the probability that an automobile owner purchases only collision coverage.

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