A new automated production process has an average of 1.5 breakdowns per day. Because of the cost associated with a breakdown, management is concerned about the possibility of having three or more breakdowns during a day. Assume that breakdowns occur randomly, that the probability of a breakdown is the same for any two time intervals of equal length, and that breakdowns in one period are independent of breakdowns in other periods. What is the probability of having three or more breakdowns during a day?
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
A new automated production process has an average of 1.5 breakdowns per day. Because of the cost associated with a breakdown, management is concerned about the possibility of having three or more breakdowns during a day. Assume that breakdowns occur randomly, that the probability of a breakdown is the same for any two time intervals of equal length, and that breakdowns in one period are independent of breakdowns in other periods. What is the probability of having three or more breakdowns during a day?
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