Question

In: Statistics and Probability

Question 4. An engineering firm is constructing power plants at three different sites. Define the events...

Question 4. An engineering firm is constructing power plants at three different sites. Define the events E1, E2, E3 as follows:
E1 = the plant at site 1 is completed by the contract date
E2 = the plant at site 2 is completed by the contract date

E3 = the plant at site 3 is completed by the contract date
An extensive analysis of the history of the performance of this firm has estimated the following probabilities for each of these events:
P(E1) = 0.85
P(E2) = 0.90
P(E3) = 0.75
Given that E1 is completed, P(E3) is 0.8
The probability all three are completed on time is 0.66
The probability no plants are completed on time is 0.03
The probability that both E1 and E2 are completed on time is 0.80
The probability that only E2 is completed on time is 0.05

For each scenario (event) described below (b-g), draw a new Venn diagram that shades the area of interest, write the event using proper set notation, and determine the associated probability.

f) Exactly one of the three plants is completed by the contract date

Solutions

Expert Solution


Related Solutions

A power company operates three power generation plants. One is a wind plant, and the other...
A power company operates three power generation plants. One is a wind plant, and the other two consume a combination of Fuel 1 and Fuel 2, emitting carbon dioxide in the process. In addition, all three plants require maintenance. The amount of fuel consumed (in Mg), maintenance required (in person-hours), carbon dioxide (CO2) emitted (in Mg), and power generated (in MWh) per day of operation is as follows: Maintenance Fuel 1 Fuel 2 CO2 Power Plant Required Required Required Emitted...
Define subsequent events. What different kinds of subsequent events are there? How are they treated differently?...
Define subsequent events. What different kinds of subsequent events are there? How are they treated differently? Why are they treated differently and why does this make sense? With these answers in mind, discuss when an auditor's job is really finished. How does (or should) this affect the acceptance of a client in the first place.
Question 1 Muzi Corporation produces three products at two different plants. The cost of producing a...
Question 1 Muzi Corporation produces three products at two different plants. The cost of producing a unit at each plant is given in the following table. Plant A Plant B Product 1 Product 2 Product 3 R5 R6 R8 R8 R7 R10 Each plant has the capacity to produce a total of 10 000 units. Demand for at least 6 000 units of product 1, at least 8 000 units of product 2 and at least 5 000 units of...
Below are the short-run average-total-cost schedules for three plants of different size that a firm might...
Below are the short-run average-total-cost schedules for three plants of different size that a firm might build to produce its product. Assume that these are the only possible sizes of plants that the firm might build. (10 points) a) What is the long-run average-cost schedule for the firm? Show it in the second table below. Plant size X Plant size Y Plant size Z Output ATC Output ATC Output ATC 5 $10 5 $13 5 $72 10 9 10 12...
Assume that there are two electric power plants (firm 1 and firm 2) emitting sulfur dioxide,...
Assume that there are two electric power plants (firm 1 and firm 2) emitting sulfur dioxide, an air pollutant. They can reduce emissions at the following total costs, where q1 is tons of emissions abatement by firm 1, and q2 is tons of abatement by firm 2: TC1=6q1^2 TC2=2q2^2 Assume that unregulated emissions are 40 tons for each firm, for a total of 80 tons. a. An environmental regulator must reduce the total emissions of sulfur dioxide by 20 tons....
The following data are required in this question and the next three. Rollins Corporation is constructing...
The following data are required in this question and the next three. Rollins Corporation is constructing its MCC schedule. Its target capital structure is 20 percent debt, 20 percent preferred stock, and 60 percent common equity. Its bonds have a 10 percent coupon, paid semiannually, a current maturity of 20 years, and sell for $849.54. The firm could sell, at par, $100 preferred stock which pays a 12 percent annual dividend, but flotation costs of 5 percent would be incurred....
Question Three: Define the following. (out of 4) Merchandising: …………………………………………………………………………. Seasonal Merchandise …………………………………………………………………... Elastic …………………………………………………………………………………… Inelastic...
Question Three: Define the following. (out of 4) Merchandising: …………………………………………………………………………. Seasonal Merchandise …………………………………………………………………... Elastic …………………………………………………………………………………… Inelastic ………………………………………………………………………………….
Part 4.     Bank Assignments. A bank distributes checks to different sites to be processed within a...
Part 4.     Bank Assignments. A bank distributes checks to different sites to be processed within a large metro area. Each site has the capacity to process different amounts of checks per day. The checks that need to be processed each day are personal, payroll, draft, and government. The total demand is different for each type of check. The cost to process each type of check varies with the site. These values are summarized in the table. Cost per check Site1...
Problem 4: A large firm uses three different types (A, B, and C) of raw materials...
Problem 4: A large firm uses three different types (A, B, and C) of raw materials to manufacture its product. Previous records show that 25% of the manufactured products are produced using material A, 50% using material B, and 25% using material C. If it is known that 5% of the product made with material A are defective, 2% made with material B are defective, and 5% made with C are defective. What is the probability that a product selected...
Research question: What are the specific problems and charateristics of different types of plants on Verdugo...
Research question: What are the specific problems and charateristics of different types of plants on Verdugo Mountain ( i.e Black Sage, California Bush, Chamise)? Answer the following for research question above 1.Identify the appropriate level of complexity (from population to landscape ecology). 2.Identify the main ecological concept that your research question seeks to help answer. 3.Identify two other ecological concepts that will also affect your research question. 4. find a peer-reviewed, research journal article whose topic addresses the same question....
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT