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Explain functions in which industrial manager is involved?
The Industrial Manager is occupied in the given functions:-
(i) Design products which will find acceptance in competitive markets;
(ii) Devise ways of producing these products efficiently;
(iii) Explore reliable sources for acquiring materials and supplies;
(iv) Attract funds;
(v) Build plants, train and recruit before train employees with a broad variety of talents.
(vi) Devise systems for coordinated efforts
(vii) Inspire self-assurance and activate all the resources or facilities into a viable going concern.
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According to police sources a car with a certain protection system will be recovered 85% of the time. Find the probability that 5 of 7 stolen cars will be recovered.
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