Calculate the probability of company, Basic Statistics

a)  The US Food and Drug Administration has veto power over the choice of drug names. In 2004, it used this power regularly, rejecting 36% of the names proposed by companies for reasons such as sounding too much like another product (and causing confusion at the pharmacy). Suppose that a company spends $500,000 developing each proposed name, but there is a 50-50 chance of a name being rejected. If the review of names occurs independently, what is the probability that the company will spend more than $1 million developing a name?                                                                                     

b)   A manufacturer of LCD panels used in television has decided to ship only panels with at most one defective pixel.  Defective pixels are the result of randomly located flaws in the glass used to make the panel.  To be profitable, the manufacturer must ship 85% of its panels. If an LCD panel has 1,024×768 = 786,432 pixels, how small must the chance for a defective pixel be in a panel in order for the probability of shipping a panel to be 0.95?

What does the function commands BINOMDIST(3,10,0.5, FALSE) and POISSON (4, 2, TRUE) yield in Microsoft Excel? What are these values? What parameters do the values 3, 10, 0.5, FALSE, 4, 2, and TRUE represent?          

 

Posted Date: 2/25/2013 1:45:48 AM | Location : United States







Related Discussions:- Calculate the probability of company, Assignment Help, Ask Question on Calculate the probability of company, Get Answer, Expert's Help, Calculate the probability of company Discussions

Write discussion on Calculate the probability of company
Your posts are moderated
Related Questions
discuss the nature and causes of the components of an economic time series?

If today is a weekday and it’s not a holiday, then you go to work. However, if it’s a weekday and a holiday, then what you do depends on the weather: If it’s raining, you play vide

Problem: a. According to a Business week poll of 1035 adults, 40% of those surveyed agreed strongly with the proposition that business has too much power over American life (B

Why do Jovian planets have rings? - Ring particles cannot have lasted for billions of years so the particles we see today must have been created recently. - New ring particles

What is a valuation account? In accounting, an assessment consideration is usually a stability sheet consideration that is used in combination with another stability sheet cons

Check numbers for No Neighboring States with Video Gaming, 2% inflation, 4 Average Bets Numbers for 2018 Average Return -0.082 Net Income -$2,052,859 End of Year Cash $5,0

3. In a management class of 100 students’ three languages are offered as an additional subject viz. Hindi, English and Kannada. There are 28 students taking Hindi, 26 taking Hindi

need to define one statistic and calculate value

What according to you are the biggest challenges of moving to IFRS? Manager 1: Well, there are going to be a lot of changes. IFRS is known to be more principle based than the

What is cash flow net of tax? I view income net of tax as the money spent without the earnings tax savings when the quantity is insurance deductible on the corporation’s earnin