What is the probability of seven bicycles

Assignment Help Operation Management
Reference no: EM132951262

A race bicycle production line from NY is reported to have a 80% probability of assembling a perfect bicycle each time. The perfect bicycles are popular and sold with a unit profit of $285. A non-perfect bicycles are repaired and later sold as refurbished bicycles with a unit prof t of $125. In June, 2021 a batch of 10 bicycles assembled from this production line is gathered.

(Question B-1) What is the probability that exactly seven bicycles from this June 2021 batch are perfect?

(Question B-2) What is the probability that at least eight bicycles of this June 2021 batch are perfect?

(Question B-3) What is the probability that this June 2021 batch can bring in a total profit of more than $2600?

Reference no: EM132951262

Questions Cloud

What does that mean in terms of stability : What is the difference between localized electrons vs. delocalized electrons? What does that mean in terms of stability
How much dividend is payable to the ordinary shareholders : Vios has never paid cash or stock dividend. How much dividend is payable to the ordinary shareholders under each of the following scenarios
Compute number of units to sell with desired profit : Compute number of units to sell with desired profit of Php50,000. Kantor, Inc., produces and sells a single product whose selling price is Php180.00 per unit
Find what total cost to assign to ending work in process : If all materials are added at the beginning of the process, what the total cost to be assigned to the ending Work in Process (WIP) is
What is the probability of seven bicycles : A race bicycle production line from NY is reported to have a 80% probability of assembling a perfect bicycle each time.
What should be the amortization expense : Vincenzo paid P250,000 for legal fees in a successful defense of the patent. What should be the amortization expense for 2021
List the linear programming model : Larry operates a healthy smoothies drink stand at the NY state fair each year. He uses three kinds of fruit (Apple, Grape, Orange) as mixtures to make his three
Identify and explain the purchasing method : You are the new beverage manager at a new large hotel that has banquets and has several restaurants. You are tasked with deciding on the purchasing method
Determine Total conversion cost for Pressing Department : Direct materials cost incurred was $679,500, the direct labor cost incurred was $46,590, Determine Total conversion cost for Pressing Department

Reviews

Write a Review

Operation Management Questions & Answers

  Book review - the goal

Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..

  Operational plan in hospitality enterprise

Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..

  Managing operations and information

Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..

  A make-or-buy analysis

An analysis of the holding costs, including the appropriate annual holding cost rate.

  Evolution and contributor of operations management

Briefly explain Evolution and contributor of Operations management.

  Functions and responsibilities of an operations manager

A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..

  Compute the optimal order quantity

Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.

  Relationship to operations practice in the organisation

Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.

  A make or buy analysis

Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.

  Prepare a staffing plan

Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.

  Leadership styles in different organizations

Ccompare the effectiveness of different leadership styles in different organizations

  Risk management tools and models

Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd