What is largest component probability that can be achieved

Assignment Help Operation Management

Reference no: EM131272009

A product engineer has developed the following equation for the cost of a system component: C = (10P)2, where C is the cost in dollars and P is the probability that the component will operate as expected. The system is composed of two identical components, both of which must operate for the system to operate. The engineer can spend $196 for the two components. What is the largest component probability that can be achieved? (Do not round your intermediate calculations. Round your final answer to 4 decimal places.)

Reference no: EM131272009

Questions Cloud

Key problems in maintaining a competitive advantage : Discuss the key problems in maintaining a competitive advantage in embryonic and growth industry environments. What are the dangers associated with being the leader in an industry.

The number one ethical concern in market research : What should we do if we find a piece of research that our boss wants to use to support their decision, but we have found it to be unethical in its approach? What do you see as the number one ethical concern in market research?

Considered predatory pricing under the sherman act : William Inglis & Sons is a family-owned wholesale bakery with production facilities in Stockton, California, that manufactured and distributed bread and rolls in northern California. ITT Continental is one of the nation’s largest wholesale bakeries a..

Not catching fish or targeted species-low volume of fish : Create a decision map (see figure 5.10 as an example) that considers value creation and support processes in your map. Include in your decision map the choices for each of your satisfiers and dissatisfies from the previous project. Not catching fish ..

What is largest component probability that can be achieved : A product engineer has developed the following equation for the cost of a system component: C = (10P)2, where C is the cost in dollars and P is the probability that the component will operate as expected. The system is composed of two identical compo..

What is after tax benefit of the risk management plan : A company's before tax profit could be 2 million with 70% probability or -1 million with 30% probability if no risk management strategy is used. With certain risk management strategy the company's before tax profit will be 1 million each year. What i..

Fine print on your credit card contracts : Disclosures are usually in the fine print that Will mentioned. Have (do) you read the "fine print" on your credit card contracts? Or your car loan? Or your student loans? Or your mortgage? If not, why not? If you haven’t, do so now. Have you ever (or..

Concern about the future for the new partnership : Recently, you attended an alumni gathering online. A friend from your days at your university proposes you form a partnership to offer consulting services. As a dedicated follower of this class, you recognize a number of issues that you must address ..

Guidance system of ship-what is reliability of the computer : The guidance system of a ship is controlled by a computer that has three major modules. In order for the computer to function properly, all three modules must function. Two of the modules have reliabilities of .97, and the other has a reliability of ..

User Account

All Pages