Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Textbook Question
Chapter 10.5, Problem 17P
In Problem 11 from the previous section, we stated that the damage amount is
- a. What is the probability that you pay a positive amount but less than $750?
- b. What is the probability that you pay more than $600?
- c. What is the probability that you pay exactly $1000 (the deductible)?
Expert Solution & Answer
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Students have asked these similar questions
a) The probability that a transistor will last between 12 and 24 weeks is :
P(12 < X <24) = F(24, 4, 6) - F(12, 4, 6)
= F(24/6, 4) - F(12/6, 4)
= F(4, 4) - F(2, 4)
= 0.567 -0.143
= 0.424
Explanation:
Using the formula,
FOX: α; B) = F(x/B; 0)
The probability that a mobile phone is stolen in an electronic shop is 0.0008. If 8500 mobile phones are sold, what is the approximate Poisson probability that 5 or fewer will be stolen?
A- 0.327
B- 0.833
C- 0.781
D- 0.256
How would I calculate the expected values for probabilities that aren't a single value such as 1-4% and >4%?
Chapter 10 Solutions
Practical Management Science
Ch. 10.2 - Use the RAND function and the Copy command to...Ch. 10.2 - Use Excels functions (not @RISK) to generate 1000...Ch. 10.2 - Use @RISK to draw a uniform distribution from 400...Ch. 10.2 - Use @RISK to draw a normal distribution with mean...Ch. 10.2 - Use @RISK to draw a triangular distribution with...Ch. 10.2 - Use @RISK to draw a binomial distribution that...Ch. 10.2 - Use @RISK to draw a triangular distribution with...Ch. 10.2 - We all hate to keep track of small change. By...Ch. 10.4 - Prob. 11PCh. 10.4 - In August of the current year, a car dealer is...
Ch. 10.4 - Prob. 13PCh. 10.4 - Prob. 14PCh. 10.4 - Prob. 15PCh. 10.5 - If you add several normally distributed random...Ch. 10.5 - In Problem 11 from the previous section, we stated...Ch. 10.5 - Continuing the previous problem, assume, as in...Ch. 10.5 - In Problem 12 of the previous section, suppose...Ch. 10.5 - Use @RISK to analyze the sweatshirt situation in...Ch. 10.5 - Although the normal distribution is a reasonable...Ch. 10.6 - When you use @RISKs correlation feature to...Ch. 10.6 - Prob. 24PCh. 10.6 - Prob. 25PCh. 10.6 - Prob. 28PCh. 10 - Six months before its annual convention, the...Ch. 10 - Prob. 30PCh. 10 - A new edition of a very popular textbook will be...Ch. 10 - Prob. 32PCh. 10 - W. L. Brown, a direct marketer of womens clothing,...Ch. 10 - Assume that all of a companys job applicants must...Ch. 10 - Lemingtons is trying to determine how many Jean...Ch. 10 - Dilberts Department Store is trying to determine...Ch. 10 - It is surprising (but true) that if 23 people are...Ch. 10 - Prob. 40PCh. 10 - At the beginning of each week, a machine is in one...Ch. 10 - Simulation can be used to illustrate a number of...Ch. 10 - Prob. 43PCh. 10 - Prob. 46PCh. 10 - If you want to replicate the results of a...Ch. 10 - Suppose you simulate a gambling situation where...Ch. 10 - Prob. 49PCh. 10 - Big Hit Video must determine how many copies of a...Ch. 10 - Prob. 51PCh. 10 - Prob. 52PCh. 10 - Why is the RISKCORRMAT function necessary? How...Ch. 10 - Consider the claim that normally distributed...Ch. 10 - Prob. 55PCh. 10 - When you use a RISKSIMTABLE function for a...Ch. 10 - Consider a situation where there is a cost that is...
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