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5. In a bakery everyday bread loafs are prepared and sold. They start the business in the morning by 6 am and close the business by 8 pm. All the loafs are sold and a small portion is wasted in the process of handling. But they close the day with zero loafs on hand. On an average, every day they prepare 1650 loafs. The owner wishes to calculate the constant transition intensity over this period covering both sales and wastages. If the true transition intensity is 0.2, what is the probability that you observe a hazard rate in excess of 0.25?

5. In a bakery everyday bread loafs are prepared and sold. They start the business in the morning by 6 am and close the business by 8 pm. All the loafs are sold and a small portion is wasted in the process of handling. But they close the day with zero loafs on hand. On an average, every day they prepare 1650 loafs. The owner wishes to calculate the constant transition intensity over this period covering both sales and wastages. If the true transition intensity is 0.2, what is the probability that you observe a hazard rate in excess of 0.25?

Calculus For The Life Sciences
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter7: Integration
Section7.EA: Extended Application Estimating Depletion Dates For Minerals
Problem 4EA
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5. In a bakery everyday bread loafs are prepared and sold. They start the business in the morning by 6 am and close the business by 8 pm. All the loafs are sold and a small portion is wasted in the process of handling. But they close the day with zero loafs on hand. On an average, every day they prepare 1650 loafs. The owner wishes to calculate the constant transition intensity over this period covering both sales and wastages. If the true transition intensity is 0.2, what is the probability that you observe a hazard rate in excess of 0.25?
Transcribed Image Text:5. In a bakery everyday bread loafs are prepared and sold. They start the business in the morning by 6 am and close the business by 8 pm. All the loafs are sold and a small portion is wasted in the process of handling. But they close the day with zero loafs on hand. On an average, every day they prepare 1650 loafs. The owner wishes to calculate the constant transition intensity over this period covering both sales and wastages. If the true transition intensity is 0.2, what is the probability that you observe a hazard rate in excess of 0.25?
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