To determine To calculate: The expected net profit if the product passes quality control. Explanation Given: A company introduces a new product that is believed to have a probability .5 of being successful and the probability .5 of being unsuccessful. Successful products pass quality control, 80 % of the time. Whereas unsuccessful products pass quality control 25 % of the time. But if the product is successful, the net profit to the company will be $ 40 million and if it is unsuccessful, then the net loss will be $ 15 million. The given options are as follows. (a) $23 million (b) $24 million (c) $25 million (d) $26 million (e) $27 million Formula used: E ( x ) = ∑ x i p i Here, E is the expected value of the random variable x and p is the cross-ponding probability. Calculation: As it is given that, The probability of product to be successful: .5 . The probability of product to be unsuccessful is: .5 . Now, from the data of the question, successful products pass quality control 80 % at the time. Whereas unsuccessful products pass quality control 25 % of the time. The probability of successful product that passes the quality test is: .5 × .8 =

Mathematics with Applications In the Management, Natural and Social Sciences (11th Edition)

11th Edition

ISBN: 9780321931078

Author: Margaret L. Lial, Thomas W. Hungerford, John P. Holcomb, Bernadette Mullins

Publisher: PEARSON

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Chapter 9, Problem 46RE

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To calculate: The expected net profit if the product passes quality control.

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Chapter 9, Problem 45RE

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Chapter 9 Solutions

Mathematics with Applications In the Management, Natural and Social Sciences (11th Edition)

Ch. 9.1 - Checkpoint 1 (a) Give the probability distribution...Ch. 9.1 - Checkpoint 2 Find the expected value of the number...Ch. 9.1 - Prob. 3CP Ch. 9.1 - Prob. 4CP Ch. 9.1 - Prob. 5CP Ch. 9.1 - Prob. 6CP Ch. 9.1 - Prob. 1E Ch. 9.1 - Prob. 2E Ch. 9.1 - Prob. 3E Ch. 9.1 - Prob. 4E

Ch. 9.1 - Prob. 5E Ch. 9.1 - Prob. 6E Ch. 9.1 - Prob. 7E Ch. 9.1 - Prob. 8E Ch. 9.1 - Prob. 9E Ch. 9.1 - Prob. 10E Ch. 9.1 - Prob. 11E Ch. 9.1 - Prob. 12E Ch. 9.1 - Prob. 13E Ch. 9.1 - Prob. 14E Ch. 9.1 - Prob. 15E Ch. 9.1 - Prob. 16E Ch. 9.1 - Prob. 17E Ch. 9.1 - Prob. 18E Ch. 9.1 - Prob. 19E Ch. 9.1 - Prob. 20E Ch. 9.1 - Prob. 21E Ch. 9.1 - Prob. 22E Ch. 9.1 - Prob. 23E Ch. 9.1 - Prob. 24E Ch. 9.1 - Prob. 25E Ch. 9.1 - Prob. 26E Ch. 9.1 - Prob. 27E Ch. 9.1 - Prob. 28E Ch. 9.1 - Prob. 29E Ch. 9.1 - Prob. 30E Ch. 9.1 - Prob. 31E Ch. 9.1 - Prob. 32E Ch. 9.1 - Prob. 33E Ch. 9.1 - Prob. 34E Ch. 9.1 - Prob. 35E Ch. 9.1 - Prob. 36E Ch. 9.1 - Prob. 37E Ch. 9.1 - Prob. 38E Ch. 9.1 - Prob. 39E Ch. 9.1 - Prob. 40E Ch. 9.1 - 41. Business Levi Strauss and Company uses...Ch. 9.1 - Prob. 42E Ch. 9.1 - Prob. 43E Ch. 9.1 - 44. Physical Science One of the few methods that...Ch. 9.1 - Prob. 45E Ch. 9.1 - Prob. 46E Ch. 9.2 - Prob. 1CP Ch. 9.2 - Prob. 2CP Ch. 9.2 - Prob. 3CP Ch. 9.2 - Prob. 4CP Ch. 9.2 - Prob. 5CP Ch. 9.2 - Prob. 6CP Ch. 9.2 - Prob. 7CP Ch. 9.2 - Prob. 8CP Ch. 9.2 - Prob. 9CP Ch. 9.2 - Checkpoint 10 Solve the problems in Example 14. Ch. 9.2 - Prob. 11CP Ch. 9.2 - Prob. 12CP Ch. 9.2 - Prob. 13CP Ch. 9.2 - Prob. 1E Ch. 9.2 - Prob. 2E Ch. 9.2 - Prob. 3E Ch. 9.2 - Prob. 4E Ch. 9.2 - Prob. 5E Ch. 9.2 - Evaluate the given factorials, permutations, and...Ch. 9.2 - Prob. 7E Ch. 9.2 - Prob. 8E Ch. 9.2 - Prob. 9E Ch. 9.2 - Prob. 10E Ch. 9.2 - Prob. 11E Ch. 9.2 - Prob. 12E Ch. 9.2 - Prob. 13E Ch. 9.2 - Use a calculator to find values for Exercises...Ch. 9.2 - Use a calculator to find values for Exercises...Ch. 9.2 - Prob. 16E Ch. 9.2 - Prob. 17E Ch. 9.2 - Use a calculator to find values for Exercises...Ch. 9.2 - Use a calculator to find values for Exercises...Ch. 9.2 - Prob. 20E Ch. 9.2 - Prob. 21E Ch. 9.2 - Prob. 22E Ch. 9.2 - Prob. 23E Ch. 9.2 - Prob. 24E Ch. 9.2 - Prob. 25E Ch. 9.2 - Prob. 26E Ch. 9.2 - Prob. 27E Ch. 9.2 - Prob. 28E Ch. 9.2 - Prob. 29E Ch. 9.2 - Prob. 30E Ch. 9.2 - Prob. 31E Ch. 9.2 - Prob. 32E Ch. 9.2 - Prob. 33E Ch. 9.2 - Prob. 34E Ch. 9.2 - Prob. 35E Ch. 9.2 - Prob. 36E Ch. 9.2 - 37. Define permutation in your own words. Ch. 9.2 - Prob. 38E Ch. 9.2 - Prob. 39E Ch. 9.2 - Prob. 40E Ch. 9.2 - Prob. 41E Ch. 9.2 - Prob. 42E Ch. 9.2 - Prob. 43E Ch. 9.2 - Prob. 44E Ch. 9.2 - Prob. 45E Ch. 9.2 - Prob. 46E Ch. 9.2 - Prob. 47E Ch. 9.2 - Prob. 48E Ch. 9.2 - Prob. 49E Ch. 9.2 - Prob. 50E Ch. 9.2 - Prob. 51E Ch. 9.2 - Prob. 52E Ch. 9.2 - Prob. 53E Ch. 9.2 - Prob. 54E Ch. 9.2 - Prob. 55E Ch. 9.2 - Prob. 56E Ch. 9.2 - Prob. 57E Ch. 9.2 - Prob. 58E Ch. 9.2 - Prob. 59E Ch. 9.2 - Prob. 60E Ch. 9.2 - Prob. 61E Ch. 9.2 - Prob. 62E Ch. 9.2 - Prob. 63E Ch. 9.2 - Prob. 64E Ch. 9.2 - Prob. 65E Ch. 9.2 - Prob. 66E Ch. 9.2 - Prob. 67E Ch. 9.2 - Prob. 68E Ch. 9.2 - Prob. 69E Ch. 9.2 - Prob. 70E Ch. 9.2 - Prob. 71E Ch. 9.2 - Prob. 72E Ch. 9.2 - Prob. 73E Ch. 9.2 - Prob. 74E Ch. 9.3 - Checkpoint 1 The ski club has 8 women and 7 men....Ch. 9.3 - Checkpoint 2 A batch of 15 granite slabs is mined,...Ch. 9.3 - Checkpoint 3 Find the probability of being dealt a...Ch. 9.3 - Checkpoint 4 Martha, Leonard, Calvin, and Sheila...Ch. 9.3 - Checkpoint 5 Evaluate (a) n = 3; (b) n = 6. Ch. 9.3 - Prob. 6CP Ch. 9.3 - Prob. 1E Ch. 9.3 - Prob. 2E Ch. 9.3 - Prob. 3E Ch. 9.3 - Prob. 4E Ch. 9.3 - Prob. 5E Ch. 9.3 - Prob. 6E Ch. 9.3 - Prob. 7E Ch. 9.3 - Prob. 8E Ch. 9.3 - Prob. 9E Ch. 9.3 - Prob. 10E Ch. 9.3 - Prob. 11E Ch. 9.3 - Prob. 12E Ch. 9.3 - Prob. 13E Ch. 9.3 - Prob. 14E Ch. 9.3 - Prob. 15E Ch. 9.3 - Prob. 16E Ch. 9.3 - Find the probability that the 2-card hand in...Ch. 9.3 - Prob. 18E Ch. 9.3 - Prob. 19E Ch. 9.3 - Prob. 20E Ch. 9.3 - Prob. 21E Ch. 9.3 - Prob. 22E Ch. 9.3 - Natural Science A shipment contains 8 igneous, 7...Ch. 9.3 - Prob. 24E Ch. 9.3 - Prob. 25E Ch. 9.3 - Prob. 26E Ch. 9.3 - Prob. 27E Ch. 9.3 - Prob. 28E Ch. 9.3 - Prob. 29E Ch. 9.3 - Prob. 30E Ch. 9.3 - Prob. 31E Ch. 9.3 - Prob. 32E Ch. 9.3 - For Exercises 32–34, refer to Example 6 in this...Ch. 9.3 - For Exercises 32–34, refer to Example 6 in this...Ch. 9.3 - Prob. 35E Ch. 9.3 - Prob. 36E Ch. 9.3 - Prob. 37E Ch. 9.3 - One version of the New York State lottery game...Ch. 9.3 - Prob. 39E Ch. 9.3 - Prob. 40E Ch. 9.4 - Prob. 1CP Ch. 9.4 - Prob. 2CP Ch. 9.4 - Prob. 3CP Ch. 9.4 - Prob. 4CP Ch. 9.4 - Prob. 5CP Ch. 9.4 - Prob. 1E Ch. 9.4 - Prob. 2E Ch. 9.4 - Prob. 3E Ch. 9.4 - Prob. 4E Ch. 9.4 - Prob. 5E Ch. 9.4 - Prob. 6E Ch. 9.4 - Prob. 7E Ch. 9.4 - Prob. 8E Ch. 9.4 - Prob. 9E Ch. 9.4 - Prob. 10E Ch. 9.4 - Prob. 11E Ch. 9.4 - Prob. 12E Ch. 9.4 - Prob. 13E Ch. 9.4 - Prob. 14E Ch. 9.4 - Prob. 15E Ch. 9.4 - Prob. 16E Ch. 9.4 - Prob. 17E Ch. 9.4 - Prob. 18E Ch. 9.4 - Prob. 19E Ch. 9.4 - Prob. 20E Ch. 9.4 - Prob. 21E Ch. 9.4 - Prob. 22E Ch. 9.4 - Prob. 23E Ch. 9.4 - Prob. 24E Ch. 9.4 - Prob. 25E Ch. 9.4 - Prob. 26E Ch. 9.4 - Prob. 27E Ch. 9.4 - Prob. 28E Ch. 9.4 - Prob. 29E Ch. 9.4 - Prob. 30E Ch. 9.4 - Prob. 31E Ch. 9.4 - Prob. 32E Ch. 9.4 - Prob. 33E Ch. 9.4 - Prob. 34E Ch. 9.4 - Prob. 35E Ch. 9.4 - Prob. 36E Ch. 9.4 - Prob. 37E Ch. 9.4 - Prob. 38E Ch. 9.4 - Prob. 39E Ch. 9.4 - Prob. 40E Ch. 9.4 - Prob. 41E Ch. 9.4 - Prob. 42E Ch. 9.4 - Prob. 43E Ch. 9.4 - Prob. 44E Ch. 9.5 - Prob. 1CP Ch. 9.5 - Prob. 2CP Ch. 9.5 - Prob. 3CP Ch. 9.5 - Prob. 4CP Ch. 9.5 - Prob. 5CP Ch. 9.5 - Prob. 6CP Ch. 9.5 - Prob. 1E Ch. 9.5 - Prob. 2E Ch. 9.5 - Prob. 3E Ch. 9.5 - Prob. 4E Ch. 9.5 - Prob. 5E Ch. 9.5 - Prob. 6E Ch. 9.5 - Prob. 7E Ch. 9.5 - Prob. 8E Ch. 9.5 - Prob. 9E Ch. 9.5 - Prob. 10E Ch. 9.5 - Prob. 11E Ch. 9.5 - Prob. 12E Ch. 9.5 - Prob. 13E Ch. 9.5 - Prob. 14E Ch. 9.5 - Prob. 15E Ch. 9.5 - Prob. 16E Ch. 9.5 - Prob. 17E Ch. 9.5 - Prob. 18E Ch. 9.5 - Prob. 19E Ch. 9.5 - Prob. 20E Ch. 9.5 - Prob. 21E Ch. 9.5 - Prob. 22E Ch. 9.5 - Prob. 23E Ch. 9.5 - Prob. 24E Ch. 9.5 - Prob. 25E Ch. 9.5 - Prob. 26E Ch. 9.5 - Prob. 27E Ch. 9.5 - Prob. 28E Ch. 9.5 - Prob. 29E Ch. 9.5 - Prob. 30E Ch. 9.5 - Prob. 31E Ch. 9.5 - Prob. 32E Ch. 9.5 - Prob. 33E Ch. 9.5 - Prob. 34E Ch. 9.5 - Prob. 35E Ch. 9.5 - Prob. 36E Ch. 9.5 - Prob. 37E Ch. 9.5 - Prob. 38E Ch. 9.5 - Prob. 39E Ch. 9.5 - 40. Business An insurance company classifies its...Ch. 9.5 - Prob. 41E Ch. 9.5 - Prob. 42E Ch. 9.5 - Prob. 43E Ch. 9.5 - Prob. 44E Ch. 9.5 - Prob. 45E Ch. 9.5 - Prob. 46E Ch. 9.5 - Prob. 47E Ch. 9.6 - Prob. 1CP Ch. 9.6 - Prob. 2CP Ch. 9.6 - Prob. 3CP Ch. 9.6 - Prob. 1E Ch. 9.6 - Prob. 2E Ch. 9.6 - Prob. 3E Ch. 9.6 - Prob. 4E Ch. 9.6 - Prob. 5E Ch. 9.6 - Prob. 6E Ch. 9.6 - Prob. 7E Ch. 9.6 - Prob. 8E Ch. 9.6 - Prob. 9E Ch. 9.6 - Prob. 10E Ch. 9 - Prob. 1CE Ch. 9 - Prob. 2CE Ch. 9 - Prob. 3CE Ch. 9 - Prob. 4CE Ch. 9 - Prob. 5CE Ch. 9 - Prob. 1EP Ch. 9 - 2. Investigate whether your own state or a state...Ch. 9 - Prob. 1RE Ch. 9 - In Exercises 1–4, (a) sketch the histogram of the...Ch. 9 - In Exercises 1–4, (a) sketch the histogram of the...Ch. 9 - In Exercises 1–4, (a) sketch the histogram of the...Ch. 9 - Prob. 5RE Ch. 9 - Prob. 6RE Ch. 9 - Prob. 7RE Ch. 9 - Prob. 8RE Ch. 9 - Prob. 9RE Ch. 9 - Prob. 10RE Ch. 9 - Prob. 11RE Ch. 9 - Prob. 12RE Ch. 9 - Prob. 13RE Ch. 9 - Solve the given problems. 14. How many variations...Ch. 9 - Prob. 15RE Ch. 9 - Prob. 16RE Ch. 9 - Prob. 17RE Ch. 9 - Prob. 18RE Ch. 9 - Prob. 19RE Ch. 9 - Prob. 20RE Ch. 9 - Prob. 21RE Ch. 9 - Prob. 22RE Ch. 9 - Prob. 23RE Ch. 9 - Prob. 24RE Ch. 9 - Prob. 25RE Ch. 9 - Prob. 26RE Ch. 9 - Prob. 27RE Ch. 9 - Prob. 28RE Ch. 9 - Prob. 29RE Ch. 9 - Prob. 30RE Ch. 9 - Prob. 31RE Ch. 9 - Prob. 32RE Ch. 9 - Prob. 33RE Ch. 9 - Prob. 34RE Ch. 9 - Prob. 35RE Ch. 9 - Prob. 36RE Ch. 9 - Prob. 37RE Ch. 9 - Prob. 38RE Ch. 9 - Prob. 39RE Ch. 9 - Prob. 40RE Ch. 9 - Prob. 41RE Ch. 9 - Prob. 42RE Ch. 9 - Prob. 43RE Ch. 9 - Prob. 44RE Ch. 9 - Prob. 45RE Ch. 9 - Exercises 46 and 47 are taken from actuarial...Ch. 9 - Prob. 47RE Ch. 9 - Prob. 48RE

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