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Question: Hazard rates. Suppose a component with constant failure rate λ is backed up by a second similar component. When the first component burns out the second is installed, and is thereafter subject to failure at the same rate λ, independently of when it was installed and how long it has been in use. Let T be the total time to failure of both components. Find for T:
a) The density function: b) the survival function: c) the hazard rate function.
b) Suppose λ = 1 per hour. Given T > 2 hours, what is the approximate probability of failure in the next minute?
Past data reveals that the graduation rate was 72% for the medical school at a university. If 10 medical students are randomly selected for that school. Find the probability that only 4 of them will graduate.
A market researcher of a trucking company intends to carry out a state wide survey concerning truck repairs. He gathered data on the costs of all repairs performed by a truck owner during the last year.
Team Sports, Inc. sells sporting goods to high schools and colleges via a nationally distributed catalog. Management at Team Sports estimates they will sell 2,000 Wilson Model A2000 catcher's mitts next year.
Walmart has two areas of opportunities: increase demand of online and delivery sales; and increasing opportunities in growing economy.
Using your work in Exercise 1, calculate the variance and the standard deviation of the distribution of differences between means for the data from liberals.
At the .05 significance level, can we conclude that the mean waiting time is less than 3 minutes?
The course text notes that tensions and differences in the 1770s led to the American Revolution that eventually produced independence for the United States from Great Britain. When the War for American Independence broke out
Two construction contracts are to be randomly assigned to one or more of three firms: I, II, and III. Any firm may receive both contracts. If each contract will yield a profit of $90,000 for the firm, find the expected profit for firm I. If firms ..
industry standards suggest that 10 of new vehicles require warranty service within the first year. jones nissan in
Consider European two call options on a non-dividend paying stock, option A and option B. The options are identical, except option.
Standard deviation of 1.8 years, and the distribution is approximately normal. if an employee is picked at random, what is the probability that the employee has worked at the store for over 10 years?
assume the probability that a newborn is a boy is 51 that is p 051. suppose a family has 8 children. a what is the
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