Two factories mamufacture the Number of Defects same machine parts. Each part is classified as having either 0, 1. 2 or 3 mamufacturing defects. The joint probability for this is given in the adjoining Table. (i) A part is observed to have no defect. What is the probability that it was produced by X manufacturer? (ii) A part is known to have been produced by mamufacturer X. What is the probability that the part has no defects ? Manufacturer 3 0-1250 0-0625 0-1875 0-1250 Y 0-0625 0-0625 0-1250 0-2500 (iii) A part is known to have ttwo or more defects. What is the probability that it was manufactured by X? (iv) A part is known to have one or more defects. What is the probability that it was manufactured by Y ?
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- The data from 200 machined parts are summarizedas follows:y yesdepth of boreE, noabovebelowedge conditioncoarsetarget15target10moderatesmooth25205080(a) What is the probability that a part selected has a moderateedge condition and a below-target bore depth?(b) What is the probability that a part selected has a moderateedge condition or a below-target bore depth?(c) What is the probability that a part selected does not have amoderate edge condition or does not have a below-targetbore depth?(d) Construct a Venn diagram representation of the events inthis sample space.The frequency of breakdown of a machine per month is shown in the table. The cost ofa breakdown is $1,000 and the cost of preventive maintenance is $1,250 per month. Ifpreventive maintenance is performed, the probability of a machine breakdown is negligible. Should the manager use preventive maintenance, or would it be cheaper to repair themachine when it breaks down?Number of breakdowns 0 1 2 3Frequency of occurrence .20 .30 .40 .10ONLY SOLVE D An investor with a total wealth of $100 is faced with the following opportunities. First, he may invest $100 now and receive $144 if there are good times, but receive $64 if there are bad times. The investor estimates that good times happen with 50% probability.He can also buy an investor newsletter whether good times or bad times will occur. (a) Draw the decision tree that illustrates the options available to the investor and the payoffs to the different options. Define P as the price of the newsletter. (b) If the investor is risk-neutral with U(M) = M, where M is income, how much would he be willing to pay for the subscription to the newsletter? (c) If the investor is risk-averse with utility U(M) = M0.5, where M is income, how much would this investor be willing to pay for the subscription to the newsletter? (d) Suppose that the owner of the newsletter estimates that there are 75 risk-averse investors like those of part (c) and 25 investors like those of part(b). If…
- themepans i max Task 3: During the last 10 years, a corporation's net profit increased year over year 6 times and decreased year over babive969 with characteristicsmber of annual earnings increases for the next 10 years is modelled in 4 times. Assume that the accordance with quote of the binomial distribution. Estimate the probability that the corporation's net profit will increase in exactly 4 of the next 10 years. tot twee monteutimut ethomi smo bsd-.2.U A :clesT Diswiot brs toqe ert tuods noitsmotnleysb 08 ni utimut to insmqinle 6 101 000,000,83 vsqof ever lliw 2.0 woled nevig ai 29161 (AU3 8.0 ataoo 020) 008.0 02U AU3 eer.o 020 A03 9161 toqe tre etsi biswiot ysb-086.33 Statistics released by the National HighwayTraffic Safety Administration and the National SafetyCouncil show that on an average weekend night, 1 outof every 10 drivers on the road is drunk. If 400 driversare randomly checked next Saturday night, what is theprobability that the number of drunk drivers will be(a) less than 32?(b) more than 49?(c) at least 35 but less than 47?Pls hep with this homework
- Hitrola used the nurmat detribution to determine the probability of afects and the number of defects expected in a production process. Assime a production process produces items with a mean weight of 12 ounces a. The process standard deviation is 0.10, and the process contradis set at phu or minus 1 standant deviation, units with weights less than 11.9 or greater than 12.1 muncra will be dassified as defects What is the probability of a defect (to a decimals 0198 In a production run of 1,000 parts, how many defects would be found its the nearest whole number? Thigh proces design intervents, the proces standard deviation can be reluced to 0.05, Assume the process contre remains the same, with weights less than 11.preater than 121 cmces being seeded as defects. What a production run of 1,000 parts how many defects would be found to the warget whole number) What is the advantage of reducing process variation, thereby causing a problem Emits to be at a greater number of standard deviations…Q. 2. Explain why there must be mistake in the following statement: "A quality control engineer claims that the probability that a large consignmen of glass bricks contians 0, 1, 2, 3, 4 or 5 defectives are 0-11%; 0-23, 0-37, 0-26, 0-009 and 0-05 respectively".6 Company “X Star" supplies electronic devices. Probability of purchasing a defective device is 0.3. Mr. Chang has purchased two devices. (a) What is the probability that at least one device purchased by Mr. Chang is good? (b) What is the probability that at least one device purchased by Mr. Chang is defective?
- asnwer for 2.An insurance company would like to offer theft insurance for renters. The policy wouldpay the full replacement value of any items that were stolen from the apartment. Someapartments have security alarms installed. Such systems detect a break-in and ring an alarmwithin the apartment. The insurance company estimates that the probability of a theft in ayear is .05 if there is no security system and .01 if there is a security system (there cannot bemore than one theft in any year). An apartment with a security system costs the renter anadditional £50 per year. Assume that the loss from a theft is £10,000 and that the insurancecompany is risk neutral and the renter would be willing to pay more than the expected loss toinsure against the loss of theft. What is the insurance company's break even price for a one year theft insurance policy for anapartment without a security system?Find the product of the following matrices, if possible. 5 - 8 1 9 7 -6 4 -7 Select the correct choice below and, if necessary, fill in the answer boxes to complete your choice. 5 - 8 - 1 9 OA. 7 -6 4 - 7 B. The multiplication is not possible.