Reference no: EM131084698
A company receives shipments from two factories. Depending on the size of the order, a shipment can be in
1 box for a small order,
2 boxes for a medium order,
3 boxes for a large order
The company has two different suppliers: Factory Q is 60 miles from the company. Factory R is 180 miles from the company. An experiment consists of monitoring a shipment and observing B, the number of boxes, and M, the number of miles the shipment travels.
The following probability model describes the experiment:
(a) Find PB,M (b, m), the joint PMF of the number of boxes and the distance. (You may present your answer as a matrix if you like.)
(b) What is E[B], the expected number of boxes?
(c) What is PM|B(m|2), the conditional PMF of the distance when the order requires two boxes?
(e) Are the random variables B and M independent?
(f) The price per mile of sending each box is one cent per mile the box travels. C cents is the price of one shipment. What is E[C], the expected price of one shipment?
|
Why the marginal cost curve is upward sloping
: Give two reasons why the marginal cost curve is upward sloping. You will want to use a graph(s) as part of your answer. Be sure to explain in words what your graph(s) are showing.
|
|
Describe key feature of particular multinational corporation
: Describe the key features of a particular multinational corporation. Explain a particular multinational corporation's effect on the political arena in the countries in which it is located.
|
|
Draw a supply and demand diagram for the corn market
: Draw a supply and demand diagram for the Corn market showing this equilibrium. Draw a diagram for a typical firm in its initial long run equilibrium, showing its Marginal Cost, Average Total Cost, and Long Run Average Cost curves. Are any profits bei..
|
|
Training from pizza-opportunity cost of making
: Joseph can initially produce 10 pizzas or 5 cakes. After some training from a pizza-making expert, his opportunity cost of making. (a) cakes will remain unchanged (b) 1 cake will become less than 2 pizzas (c) 1 cake will become equal to 1 pizza (d) 1..
|
|
A company receives shipments from two factories
: A company receives shipments from two factories. Depending on the size of the order, a shipment can be in 1 box for a small order,
|
|
Alternating chain of sugar and phosphate
: What do you call the alternating chain of sugar and phosphate to which the DNA and RNA nitrogenous bases are attached?
|
|
Workers compensation premiums to skyrocket
: Upon graduation, John Jones takes a position as risk manager to ABC Manufacturing which manufactures widgets that are utilized in farm equipment. Unfortunately, ABC Manufacturing has had a long history of significant injuries to its production employ..
|
|
The following probability model describes the experiment
: An ice cream company orders supplies by fax. Depending on the size of the order, a fax can be either 1 page for a short order,
|
|
Concerned about markets being in equilibrium
: In microeconomics we are concerned about markets being in equilibrium. This refers to the point at which price, supply, and demand, are in equilibrium. What it means to have a market in equilibrium, and how changes in supply or price would affect thi..
|