The durations of the various power failures

Assignment Help Basic Statistics

Reference no: EM131130939

The power failures in a certain region occur according to a Poisson process with rate λ₁ = 1/5 per week. Moreover, the duration X (in hours) of a given power failure has an exponential distribution with parameter λ₂ = 1/2.

Finally, we assume that the durations of the various power failures are independent random variables.

(a) What is the probability that the longest failure, among the first three power failures observed, lasts more than four hours?

(b) Suppose that there has been exactly one power failure during the first week considered. What is the probability that the failure had still not been repaired at the end of the week in question?

Reference no: EM131130939

Questions Cloud

Draw the consumption possibilities curves : Suppose each country specializes in the good for which it has a comparative advantage, and it exchanges 14 tables for some quantity of chairs. Compute the consumption bundles bundles mean the consumption of tables and chairs for each country.

The number of failures during the fourth : (b) Suppose that exactly five failures have occurred during the first four weeks considered. Let M be the number of failures during the fourth of these four weeks. Calculate E[M | M > 0].

Calculate net income to the controlling interest : Calculate Net income to the controlling interest for the year 2013. Verify the calculation of the balance in the account equity in sub earnings and record the parent company entries with respect to its investment during 2013.

Identify an ethical issue the organization either faces : Describe some of the key decisions its management has faced within the past year or two. Identify an ethical issue the organization either faces or has faced in the past. If it has not been resolved, provide an analysis of how the issue should ..

The durations of the various power failures : The power failures in a certain region occur according to a Poisson process with rate λ1 = 1/5 per week. Moreover, the duration X (in hours) of a given power failure has an exponential distribution with parameter λ2 = 1/2.

Compute the net benefit from trade for each country : Suppose the two countries split the difference between the willingness to pay for computers and the willingness to accept computers. Compute the terms of trade, that is, the rate at which the two countries will exchange computers and shoes.

Explanation in the chart in the section ic label : Be sure to use each element following the explanation in the chart in the Section I.C. Label the elements you are demonstrating by putting the label in parenthesis just like the samples - description, effect, reason, and problem solving

How do warrants-convertible bonds differ from call options : How do warrants and convertible bonds differ from call options? Why would a corporation issue warrants or convertible bonds?

Discuss the pros and cons of a mnc having a centralized cash : Discuss the pros and cons of a MNC having a centralized cash manager handle all investment and borrowing for all affiliates of the MNC versus each affiliate having a local manager who performs the cash management activities of the affiliate.

User Account

All Pages