Operations Management
13th Edition
ISBN: 9781259667473
Author: William J Stevenson
Publisher: McGraw-Hill Education
expand_more
expand_more
format_list_bulleted
Textbook Question
Chapter 4.S, Problem 11P
Hoping to increase the chances of reaching a performance goal, the director of a research project has assigned three separate research teams the same task. The director estimates that the team probabilities are .9, .8, and .7 for successfully completing the task in the allotted time. Assuming that the teams work independently, what is the probability that the task will not be completed in time?
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Hoping to increase the chances of reaching a performance goal, the director of a research project has assigned three separate research teams the same task. The director estimates that the team probabilities are 9, 8, and 7 for successfully completing the task in the allotted time Assuming that the teams work independently, what is the probability that the task will not be completed in time?
The company is considering whether or not they should drill the land. The cost of drilling is estimated to be $4 million. The company believes there are three possible findings after drilling the land: dry, wet and
gushing. The probabilities for these outcomes are 0.5, 0.3 and 0.2, respectively. If the land is found to be dry, it obviously offers no profit. If the land is wet, it brings a potential profit of $10 million. If gushing, the
potential profit from the land is $30 million. Answer the following questions, Q1 and Q2.
Q1: Draw a decision tree to show the decision for this company based on the EMV criterion. Nodes and arcs are provided below and you can make more of them by using "copy" and "paste"
Q2: The company has the option of using some new technology and equipment combined with seismic survey data to learn the presence of oil (dry, wet or gushing) before drilling the land. However, it requires
$2.3 million investment for the technology, equipment, and required analysis. Is…
In a random sample of 250 homeowners from a population of homeowners in a Florida resort community, 32 report that they had water damage during the past rainy season. The endpoints of a 95% confidence interval for the proportion of all homeowners who had water damage are closest to which of the following?
a. 0.081 to 0.175
b. 0.073 to 0.182
c. 0.093 to 0.163
d. 0.087 to 0.169
Chapter 4 Solutions
Operations Management
Ch. 4.4 - Prob. 1.1RQCh. 4.4 - Prob. 1.2RQCh. 4.8 - LEGO A/S IN THE PINK Lego A/S overcame the recent...Ch. 4.8 - Prob. 2.1RQCh. 4.8 - Prob. 2.2RQCh. 4.11 - THE CHALLENGES OF MANAGING SERVICES Services can...Ch. 4.11 - THE CHALLENGES OF MANAGING SERVICES Services can...Ch. 4.S - Prob. 1DRQCh. 4.S - Prob. 2DRQCh. 4.S - Prob. 3DRQ
Ch. 4.S - Consider the following system: Determine the...Ch. 4.S - A product is composed of four parts. In order for...Ch. 4.S - A system consists of three identical components....Ch. 4.S - A product engineer has developed the following...Ch. 4.S - The guidance system of a ship is controlled by a...Ch. 4.S - One of the industrial robots designed by a leading...Ch. 4.S - A production line has three machines A, B, and C,...Ch. 4.S - Prob. 8PCh. 4.S - A Web server has five major components that must...Ch. 4.S - Repeat Problem 9 under the condition that one of...Ch. 4.S - Hoping to increase the chances of reaching a...Ch. 4.S - An electronic chess game has a useful life that is...Ch. 4.S - A manufacturer of programmable calculators is...Ch. 4.S - Lucky Lumen light bulbs have an expected life that...Ch. 4.S - Prob. 15PCh. 4.S - Prob. 16PCh. 4.S - A major television manufacturer has determined...Ch. 4.S - Prob. 18PCh. 4.S - Determine the availability for each of these...Ch. 4.S - Prob. 20PCh. 4.S - A manager must decide between two machines. The...Ch. 4.S - Prob. 22PCh. 4.S - Auto batteries have an average life of 2.7 years....Ch. 4 - Prob. 1DRQCh. 4 - Prob. 2DRQCh. 4 - Prob. 3DRQCh. 4 - Prob. 4DRQCh. 4 - Prob. 5DRQCh. 4 - Prob. 6DRQCh. 4 - Prob. 7DRQCh. 4 - Prob. 8DRQCh. 4 - a. What is meant by the term life cycle? b. Why...Ch. 4 - Prob. 10DRQCh. 4 - Prob. 11DRQCh. 4 - Prob. 12DRQCh. 4 - Prob. 13DRQCh. 4 - Explain what quality function development is and...Ch. 4 - Prob. 15DRQCh. 4 - Prob. 16DRQCh. 4 - Prob. 17DRQCh. 4 - Prob. 18DRQCh. 4 - Prob. 19DRQCh. 4 - Describe some of the trade-off that are...Ch. 4 - Prob. 2TSCh. 4 - Prob. 3TSCh. 4 - Prob. 1CTECh. 4 - Prob. 2CTECh. 4 - Prob. 3CTECh. 4 - Prob. 4CTECh. 4 - Prob. 5CTECh. 4 - Give two examples of unethical conduct involving...Ch. 4 - Prob. 1PCh. 4 - Prob. 2PCh. 4 - Prepare a service blueprint for each of these...Ch. 4 - Prepare a service blueprint for each of these post...Ch. 4 - Prob. 5PCh. 4 - Prob. 6PCh. 4 - Prob. 7PCh. 4 - Prepare a table similar to that shown in Problem...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Similar questions
- A company is researching the effectiveness of a new website design to decrease the time to access a website. 32 website users were randomly selected, and their time (in seconds) to access the website with the old and new designs were recorded. The summary statistics for the two sets of data are given in Table Q3-1, and the test results are given in Table Q3-2 and Q3-3. Apply an appropriate hypothesis testing method to test whether the new website design can decrease the time to access the website at the significance level of 5%.arrow_forwardA scientist works in a lab with four summer interns and, as it is the end of the summer, he anticipates the head of the lab will ask him which of them he wants to retain. In terms of quality, the scientist and the head of the lab agree that intern A is better than intern B who is better than intern C who is better than intern D. The scientist would like to keep as many interns as possible and, given any number, the highest-quality ones. However, due to funding restrictions, the head of the lab wants to limit the number of interns that are retained. The head of the lab initially tells the scientist to select two interns to retain. After the scientist chooses two interns, the head of the lab decides whether to allow the scientist to retain a third intern. Thus, the sequence of moves is: 1) the scientist chooses two interns (both of whom are then retained); 2) the head of the lab decides either to allow the scientist to choose a third or not; and possibly 3) if the head of the lab chose…arrow_forwardIn contract negotiations between a local government agency and its workers, it is estimated that there is a 50% chance that an agreement will be reached on the salaries of the workers. It is estimated that there is a 70% chance that there will be an agreement on the insurance benefits. There is a 20% chance that no agreement will be reached on either issue. Are the agreement on salaries (S) and the agreement on insurance (I) independent events? O not independent because P(S) P(I) # P(S and I) O independent because P(S) P(I) = P(S and I) %3D Oindependent because P(S) P(I) P(S and !)arrow_forward
- The management is faced with the problem of choosing one of the products for manufacturing. The probability matrix after market research for the two products was as follows: State of nature Acts Good Fair Poor Product 'A' 0.75 0.15 0.10 Product 'B' 0.60 0.30 0.10 The profits that the management can make for different levels of market acceptability of the products are as follows : Profit (in Rs.) if market is Acts Good Fair Poor 35,000 15,000 5,000 Product 'A' Product 'B' 50,000 20,000 Loss 3,000 Calculate expected value of the choice of alternative and advise the management.arrow_forwardHow do I get the 0.20 for probability in excel?arrow_forwardLast year's Easter campaign produced these results: 28% of the target audience was exposed 1 time; 21% of the target audience was exposed 2 times; 15% of the target audience was exposed 3 times; 12% of the target audience was exposed 4 times; and no one was exposed more than 4 times. Calculate total GROSS RATING POINTS for the Blue Bunny Easter campaign.arrow_forward
- Andrew Thomas, a sandwich vendor at Hard Rock Cafe's annual Rockfest, created a table of conditional values for the various alternatives (stocking decision) and states Of nature (size Of crowd ) Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.arrow_forwardThe admissions officer at a small college compares the scores on the Scholastic Aptitude Test (SAT) for the school's male and female applicants. A random sample of 17 male applicants results in a SAT scoring mean of 1244 with a standard deviation of 59. A random sample of 10 female applicants results in a SAT scoring mean of 1141 with a standard deviation of 34. Using this data, find the 99% confidence interval for the true mean difference between the scoring mean for male applicants and female applicants. Assume that the population variances are not equal and that the two populations are normally distributed. Step 1 of 3: Find the critical value that should be used in constructing the confidence interval. Round your answer to three decimal places. Step 2 of 3: Find the standard error of the sampling distribution to be used in constructing the confidence interval. Round your answer to the nearest whole number. Step 3 of 3: Construct the 99% confidence interval. Round your…arrow_forwardA firm has modeled its experience with industrial accidents and found that the number of accidents per year is related to the number of employees by the regression equation Y = 6.6 + 0.098*X. R-Square is 0.72. The regression is based on 20 annual observations. The firm intends to employ 480 workers next year. How many accidents do you project? 47.04 accidents 8.66 accidents 53.64 accidents 72% of the 480 workers 28.56 accidentsarrow_forward
- An operational risk analyst is using the POT methodology to estimate VaR. Parameters are provided in the following tables: Loss threshold (%) μ. = 2 Number of observations N = 1000 Observations in excess of the threshold n = 9 Scale parameter β = 0.85 Shape parameter (tail index) = 0.3 - Calculate VaR at the 99% confidence level.arrow_forwardBased on a sample of 80 recent MBA graduates (40 male and 40 female), the following information was made available regarding their annual salaries. The standard deviation of salaries for the male graduates was $40,000 and that for the female graduates was $25,000. a.) For the male graduates, what is the probability of obtaining a sample mean salary within $10,000 of the population mean? Show work. b.) Consider the same question in (a) but for the female graduates. In which case, males or females, do we have a higher probability of obtaining a sample estimate within $10,000 of the population mean? Why? Show work. c.) Suppose that the sample mean salary of females is $125,000. Develop a 95% confidence interval estimate for the mean salary of all female graduates.arrow_forwardWhich experimental method involves randomly assigning participants to one of two groups in order to collect data and compare the performance of two distinct options? This method has been emphasized in various tech companies (e.g., Amazon, Netflix, Rent the Runway), and it is an useful method for uncovering causality between variables. Most tech companies heavily use this method for their data analytics process. Multivariate testing Bucket testing Web usability testing A/B testing Conjoint analysisarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,Operations ManagementOperations ManagementISBN:9781259667473Author:William J StevensonPublisher:McGraw-Hill EducationOperations and Supply Chain Management (Mcgraw-hi...Operations ManagementISBN:9781259666100Author:F. Robert Jacobs, Richard B ChasePublisher:McGraw-Hill Education
- Purchasing and Supply Chain ManagementOperations ManagementISBN:9781285869681Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. PattersonPublisher:Cengage LearningProduction and Operations Analysis, Seventh Editi...Operations ManagementISBN:9781478623069Author:Steven Nahmias, Tava Lennon OlsenPublisher:Waveland Press, Inc.
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,
Operations Management
Operations Management
ISBN:9781259667473
Author:William J Stevenson
Publisher:McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi...
Operations Management
ISBN:9781259666100
Author:F. Robert Jacobs, Richard B Chase
Publisher:McGraw-Hill Education
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning
Production and Operations Analysis, Seventh Editi...
Operations Management
ISBN:9781478623069
Author:Steven Nahmias, Tava Lennon Olsen
Publisher:Waveland Press, Inc.
Process selection and facility layout; Author: Dr. Bharatendra Rai;https://www.youtube.com/watch?v=wjxS79880MM;License: Standard YouTube License, CC-BY