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Employee absences can seriously affect productivity. In one country, employees are absent from work an average of 2.6 weeks of the 52-week work-year. Assuming this average holds for a small factory that employs 12 workers, what is the probability that during any given week:
a. no worker will be absent.
b. one worker will be absent.
c. two or more workers will be absent.
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 supplier and a buyer, who are both risk neutral, play the following game, The buyer’s payoff is q^'-s^', and the supplier’s payoff is s^'-C(q^'), where C() is a strictly convex cost function with C(0)=C’(0)=0. These payoffs are commonly known.
A poll by Louis Harris and Associates of 1249 adult Americans indicated that 36% believe in ghosts and 37% believe in astrology. Can you compare the proportions using inferential methods for independent binomial samples? If yes, do so. If not, exp..
Burger Doodle is a fast-food restaurant that processes an average of 680 food orders each day. The average cost of each order is $6.15. Four percent of the orders are incorrect, and only 10% of the defective orders can be corrected
After researching cysts of a particular type, a doctor learns that out of 10,000 such cysts examined, 1,500 are malignant and 8,500 are benign. A diagnostic test is available which is accurate 80% of the time (whether the cyst is malignant or not)..
Calculate the right-hand-side of constraint 1 to 11 (instead of 10) and solve the problem. How much did the profit increase as a result of this?
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 ..
A telemarketing firm in a certain city uses a device that dials residential telephone numbers in that city at random. Of the first 100 numbers dialed, 51% are unlisted. This is not surprising because 48% of all residential phone numbers in this ci..
Suppose you have been offered chance to participate in a Treasure Hunt game whose rules are as follows. There are 3-colored boxes: red, green and yellow.
A dentist sees about fifteen new patients per month (the rest of her patients are repeats). She knows that on average, over the past year, about half of her patients have needed at least one filling on their first visit.
Suppose you and your classmate are assigned a project on which you will earn one combined grade. You each wish to receive a good grade, but you also want to avoid hard work.
A pizza delivery service delivers to a campus dormitory. Delivery times follow a normal distribution with a mean of 20 minutes and a standard deviation of 4 minutes. Find the delivery time that 20% of all deliveries are less than?
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