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A component has reliability function:
R(t) = 1- (t /100)^2,
where time is measured in months and 0< t < 100. The manufacturer wants to build in redundancy by placing several components in parallel. What is the minimum number of components that have to be placed in parallel to meet a reliability requirement of 0.95 at 50 months?
For a class activity, your group has been assigned the task of generating a quiz question that requires use of formula for conditional probability to compute P(B/A).
a) How many cars are red and have a sun roof, but do not have an automatic transmission? b) How many cars are not red, do not have an automatic transmission, and do not have a sun roof?
Determine which pair of strategies would competing companies A and B choose given this payoff matrix?
In the summer ECMBA has a group assignment. Students are assigned to two person groups that have to make a 25 point paper applying game theory to competitive strategy.
Construct a 95% confidence interval estimate for the population proportion of social media users who would say it is not okay to friend their boss.
A recent study by Ohio State University (March 5, 2008) suggests that students with cell phones may take more risks than students that do not have cell phones.
A finite lot of 40 digital watches includes 30% nonconforming units. Using the hypergeometric distribution, what is the probability that a sample of 6 will contain 3 nonconforming watches? Show your work.
In the game of roulette, a player can place a $8 bet on the number 33 and have a 1/38 probability of winning. If the metal ball lands on 33, the player gets to keep the $8 paid to play the game and the player is awarded an additional $280.
A light-bulb manufacturer advertises that the average life for its light bulbs 900 hours. A random sample of 10 of its light bulbs resulted in the following lives in hours. At the 10% significance level, do the data provide evidence that the mean ..
The Candle Company and the Wick Corporation are the only manufactures of a very sophisticated type of flammable material.
In a study to estimate the portion of residents in a certain city and its suburbs who favor the construction of a nuclear power plant, it is found that 63 of 100 urban residents favor the construction while only 59 of 125 suburban residents are in..
Job Changes: A sociologist is interested in the relation between x = number of job changes and y = annual salary (in thousands of dollars) for people living in the Nashville area. A random sample of 10 people employed in Nashville provided the fol..
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