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A team of scientists is due to spend six months in Antarctica carrying out research. One major piece of equipment they will be taking is subject to breakdowns caused by the sudden failure of a particular component. Because a failed component cannot be repaired the team intend to carry a stock of spare units of the component, but it will cost them roughly $3000 for each spare unit they take with them.
However, if the equipment breaks down and a spare is not available a new unit will have to be specially flown in and the team will incur a total cost of $4000 for each unit that is delivered in his way. An engineer who will be traveling with the team has estimated that the number of spares that will be required during the six months follows the probability distribution shown below:
No. of spares required
0
1
2
3
Probability
0.2
0.3
0.4
0.1
Determine the number of spares that the team should carry if their objective is to minimize expected costs.
What is the p-value, and what is your conclusion and Medical tests were conducted to learn about drug-resistant tuberculosis. Of 142 cases testedin New Jersey, 9 were found to be drug-resistant
Drug use forty-six percent of marijuana use among youth occurs in the inner cities (Source: Partnership for a Drugfree America).
A data set has n=5 pairs of X and Y values. This data has SSx=10, SSy= 40 and SP=10. Compute the Pearson correlation and explain.
We would like to determine if the quality improvement effort has improved the proportion of correctly filled orders by testing the hypotheses:
a test consists of 25 multiple-choice questions. assume that a test taker randomly guesses a choice for each and every
What is the probability that the freshman is enrolled in both English 105 and Mathematics 101? What is the probability that the freshman is enrolled in English 105 but not in Mathematics 101? What is the probability that the freshman is not enrolled ..
question life insurancea life insurance company sells a term insurance policy to a 21-year-old male that pays 100000
what is the probability that this person is a female who engages in physical exercise activities during the lunch hour?
What is the difference between a randomized ANOVA and a repeated measures ANOVA? What does the term one-way mean with respect to an ANOVA?
Due to increase in product demand, management needs to increase labor production hours by an estimated 270 hours. Any-Business currently has 30 production employees whose hourly wages varies from $7.50 - $8.50 per hour.
Create a histogram of the time until first failure for this type of disc player.- Then find a 95% confidence interval for the mean time until failure for this type of disc player.
for a normal distribution with ? lt 98.6 given a sample of 25 values with a sample mean of 98.2 and a sample standard
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