When a new machine is functioning properly, only 6% of the items produced are defective. Assume that we will randomly select two parts produced on the machine and thatwe are interested in the number of defective parts found.(a) Describe the conditions under which this situation would be a binomial experiment. (Select all that apply.)For each part selected, the probability of a defective part being produced must be 0.06.The parts must be selected independently.The selection of a part is dependent on the first part selected.The number of successes and failures in this experiment are equal.The probability of choosing a part that is defective must be 0.94.(b) Draw a tree diagram similar to this section's example showing this problem as a two-trial experiment.Tree DiagramDescription---Select------Select------Select------Select---Not DefectiveDefective---Select---Not Defective---Select------Select---O O O 0 O

When a new machine is functioning properly, only 6% of the items produced are defective. Assume that we will randomly select two parts produced on the machine and tha ve are interested in the number of defective parts found. (a) Describe the conditions under which this situation would be a binomial experiment. (Select all that apply.) O For each part selected, the probability of a defective part being produced must be 0.06. The parts must be selected independently. O The selection of a part is dependent on the first part selected. O The number of successes and failures in this experiment are equal. O The probability of choosing a part that is defective must be 0.94. (b) Draw a tree diagram similar to this section's example showing this problem as a two-trial experiment. Tree Diagram Description ---Select--- ---Select--- ---Select--- ---Select--- Not Defective Defective ---Select--- Not Defective ---Select--- ---Select---

When a new machine is functioning properly, only 6% of the items produced are defective. Assume that we will randomly select two parts produced on the machine and tha ve are interested in the number of defective parts found. (a) Describe the conditions under which this situation would be a binomial experiment. (Select all that apply.) O For each part selected, the probability of a defective part being produced must be 0.06. The parts must be selected independently. O The selection of a part is dependent on the first part selected. O The number of successes and failures in this experiment are equal. O The probability of choosing a part that is defective must be 0.94. (b) Draw a tree diagram similar to this section's example showing this problem as a two-trial experiment. Tree Diagram Description ---Select--- ---Select--- ---Select--- ---Select--- Not Defective Defective ---Select--- Not Defective ---Select--- ---Select---

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The following table shows the number of students at a college who were offered teaching positions before graduation. Determine the probability of each event assuming that one of the students represented in the table is randomly selected. Offer No Offer Female 52 32 Male 75 27 Enter answers in fraction form. a. Student is a male who received a teaching position offer. The probability is b. Student is a female, and she did not receive a teaching position offer. The probability is c. Student received a teaching position offer or is a female. The probability is
3. Consider the game below. С1 C2 C3 R1 1, 1 4, 6 8, 5 1, 2 5, 4 R2 R3 2, 6 2, 7 7, 6 0, 7 3.1. Does the game have any pure strategy NEs? 3.2. Check whether a mixed strategy NE exists in which A is mixing R1 and R2 with positive probabilities, playing R3 with zero probability, while B is mixing C1 and C3 with positive probabilities while playing C2 with zero probability. [Let (p1,P2, P3) be the probabilities with which A plays (R1, R2,R3) and let (q1,92, 93) be the probabilities with which B plays (C1, C2,C3). Make use of the following NE test: m* is a NE if for every player i, u;(mị , m²¿) = u;(Si, m²¡) for every si E S¡|m¡(sji) > 0 and u¡(m¡ ,m²¡) > u¡(s¡,m;) for every si E S¡ |m¡ (s¡) = 0. Hint: Each player must be indifferent between those of her pure strategies that are used (with positive probability) in her mixed strategy, and unused strategies must not yield a payoff that is higher than the payoff a player gets with her NE (mixed) strategy.] %3D
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If probability of the student attend the first lecture is 0.55, the probability that he attend the second lecture is 0.40, and the probability he attend both is 0.28. Find probability that he not attend first lecture or not attend the second one: O.72 O.36 O.95 O.27
[Adverse Selection] Each of the two players receives an envelope, in which there is anamount of money that is equally distributed from $0, $1, $2, ..., $100. The amounts in twoenvelopes are independent. After receiving the envelope, each individual can check exactlyhow much money is put in his/her own envelope. Then each player has the option to exchangehis/her envelope for the other individual's prize. The decisions are made simultaneously. Ifboth individuals agree to exchange, then the envelopes are exchanged; otherwise, if at leastone player chooses not to exchange, each individual keeps his/her own envelope and receivesits attached sum of money.a. Model this game as a static Bayesian game (write the normal formrepresentation) and find the Bayesian Nash equilibrium.b. Consider a new game where the probability distribution of money in eachenvelope is changed. The amount is equal to $100 with probability 90%, and is equalto each number in $0, $1, $2, ... ,$99 with probability 0.1%.…
please only do: if you can teach explain steps of how to solve each part what is the optimizatio formula that was use for foc? please solve each part
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D3)
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