Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

Suppose that a company wants to get a better handle on operational losses at its manufacturing plants caused by malfunctioning equipment, so it decides to institute three-person monitoring and analysis teams chosen from management at each of its plants. At each plant, the management teams take a test to measure knowledge of the manufacturing process, and the three highest-scoring managers will be appointed to the monitoring team.

1) At a particular plant, there are six managers. After taking the exam, how many possible ways can the six managers be ranked?

2) What is the probability that three particular managers - John, Sylvia and Nancy - will be the three highest finishers (in any order) and therefore chosen to be on the new team?

3) The team wants to plan for the number of technicians needed to fix equipment failures that lead to operational losses.  If each failure is equally likely to require 2, 3, 5 or 7 technicians to repair it, what is the expected number of technicians needed to fix a failure?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M92859451
  • Price:- $15

Priced at Now at $15, Verified Solution

Have any Question?


Related Questions in Statistics and Probability

1 three experiments investigating the relation between need

1. Three experiments investigating the relation between need for cognitive closure and persuasion were performed. Part of the study involved administering a "need for closure scale" to a group of students enrolled in an ...

As an experiment the investigators decided to take two

As an experiment, the investigators decided to take two measurements on the patient. One measurement will be made using the precise machine (withσI= 5) and the other will be made using the less precise machine (withσII= ...

Describe in detail each of four risk factors of holding a

Describe in detail each of four risk factors of holding a domestic bond. Your summary should convince the reader that you fully understand each risk factor.

The random variable x takes on the values 5 20 30 and 200

The random variable X takes on the values 5, 20, 30, and 200 with probabilites 0.60, 0.30, 0.08, and 0.02 respectively. Use the statistical capacity of your calculator to find the expected value of Xrounded to one place ...

The population standard deviation for the height of high

The population standard deviation for the height of high school basketball players is 2.3 inches. If we want to be 95% confident that the sample mean height is within 0.5 inch of the true population mean height, how many ...

Two payments of 9000 and 2600 are due in 1 year and 2 years

Two payments of $9,000 and $2,600 are due in 1 year and 2 years, respectively. Calculate the two equal payments that would replace these payments, made in 6 months and in 5 years if money is worth 10.00% compounded quart ...

The average or par score for an 18 hole golf course is

The average, or "par" score for an 18 hole golf course is 72. The score is computed by counting the number of swings, or "strokes" a player must make with their club to hit the ball into each of the 18 holes on the golf ...

Phillips owns 25 of mintor inc a private company in 2007

Phillips owns 25 % of Mintor, Inc. (a private company). In 2007, Mintor had sales of $22,00,000, had net income of $82,000 and Mintor paid $32,000 in dividends. If Phillips uses the Equity Income method, what did Phillip ...

Discuss the core business objectives and the primary focus

Discuss the core business objectives and the primary focus of the financial business model.

A company that manufactures gasoline station pumps must

A company that manufactures gasoline station pumps must ensure that it pumps at least 1 gallon of gasoline 84% of the time. If the population of pump amounts for a particular pump is normally distributed with mean μ and ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As