Determine the probability of recording

Assignment Help Finance Basics

Reference no: EM131000789

According to the Welders Association of America, during the decade from 1980-1989, 40% of injuries incurred by its members were to the eye; 22% were to the hand; 20% to the back; and the remaining 18% of injuries were categorized as "others." Stating whatever assumptions are necessary,

(i) Determine the probability of recording 4 eye injuries, 3 hand injuries, 2 hand injuries, and 1 injury of the "other" variety.

(ii) Of 5 total recorded injuries, what is the probability that fewer than 2 are eye injuries?

(iii) Because eye injuries are the most prevalent, and the most costly to treat, it is desired to reduce their occurrences by investing in eye-safety training programs for the association's members. What target probability of a single occurrence of an eye injury should the program aim for in order to achieve an overall objective of increas- ing to approximately 0.9 the probability of observing fewer than 2 eye injuries?

Reference no: EM131000789

Questions Cloud

Where is the center of mass of the person : A person whose height is 1.88 m is lying on a light board placed on two scales so that scale 1 is under the person's head and scale 2 is under the person's feet. Scale 1 reads 48.3 kg and scale 2 reads 39.3 kg . Where is the center of mass of the ..

Calculate the direction and magnitude of the force supplied : The three major forces acting are shown. FM = 80 N, w = 45 N. Calculate the direction and magnitude of the force supplied by the upper vertebrae FV to hold the head stationary, assuming that it acts along a line through the center of mass as do th..

Identify and clearly define the relevant law : Clearly summarize lessons learned from the week as they apply to your fact pattern and make links to the readings and/or module.

What is the relationship between tqm and iso 9000 : Explain how you would summarize the implementation of TQM for the "new" WonderWash.

Determine the probability of recording : Determine the probability of recording 4 eye injuries, 3 hand injuries, 2 hand injuries, and 1 injury of the "other" variety. Of 5 total recorded injuries, what is the probability that fewer than 2 are eye injuries?

Postulate an appropriate model for the random variable : Postulate an appropriate model for the random variable X representing the total number of FDIC-insured bank failures per year, and use this model to compute the probability of observing the number of failures reported in 1980.

Long incubation period infects a population of people : When a rare respiratory disease with a long incubation period infects a population of people, there is only a probability of 1/3 that an infected patient will show the symptoms within the ?rst month.

What other factors had a huge impact on the art deco : What other factors had a huge impact on the Art Deco - Critical analysis is a skill that you must develop as a designer? Observing the objects displayed write an analytical sentence that reveals the similarities and differences?

User Account

All Pages