Q. During a major storm seawater has entered the cable conduit for a tidal power station....

Q. During a major storm seawater has entered the cable conduit for a tidal power station. The seawater may have damaged the insulation greatly increasing the likelihood of a short circuit. The power company needs to decide whether or not to replace the cables in the conduit. If there is a short circuit then the whole conduit will be seriously damaged and need to be reconstructed. The cost of replacing the cables is $30 000. The cost of replacing the complete conduit is $500 000. If the cable is not replaced the probability of a short circuit occurring is estimated to be 0.1. If it is replaced this drop to 0.000 01. It is possible to send a remote camera through the conduit to inspect the cable at a cost of $5 000. This inspection is not 100% accurate in detecting damage and so P(The inspection detects damage | A short circuit will occur) = 0.9 P(The inspection detects damage | A short circuit will not occur) = 0.05 a) Draw the decision tree for this situation. b) Determine the remaining required probabilities and mark clearly on your tree. c) Determine the best course of action to follow.

Solutions

Expert Solution

Inspection is the best way to manage this situation.

Do give positive rating,thankyou.

Ally Wells answered 4 months ago

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