A product designer must decide if a redundant component is cost-justified in a product. The produin question has a critical component with a probability of .98 of operating. Product failure wouldinvolve a cost of $20,000. For a cost of $100, a switch and backup component could be added thatwould automatically transfer the control to the backup component in the event of a failure. Shouldthe backup component be added if its operating probability is also .98?

As per the given question the probability for the switch is not given in the problem so it is safe…

Answered: A product designer must decCide if a…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Part A. Depression affects many people. 25 out of 100 people with untreated depression will lose at least one friendship while not receiving treatment. On the other hand, when people with depression are treated with medication and counseling, only 2 out of 100 will lose at least one friendship during treatment. The absolute risk of losing at least one friendship while being treated with medication and counseling is Answer: 2 / 100 = 0.02 = 2%
The owner of a small firm has just purchased a personal computer, which she expects will serve her for the next two years The owner has been told that she "must" buy a surge suppressor to provide protection for her new hardware against possible surges or variations in the electrical current, which have the capacity to damage the computer The amount of damage to the computer depends on the strength of the surge. It has been estimated that there is a 1% chance of incurring 350 dollar damage, 4% chance of incurring 200 dollar damage, and 10% chance of incurring 125 dollar damage from a surge within the next two years. An inexpensive suppressor, which would provide protection for only one surge, can be purchased. How much should the owner be willing to pay if she makes decisions on the basis of expected value? Expected value = Preview My Answers Submit Answers You have attempted this problem 0 times. You have unlimited attempts remaining.
The blue catfish (Ictalurus Furcatus) is the largest species of North American catfish. The current world record stands at 143 pounds, which was caught in the John H. Kerr Reservoir (Bugg's Island Lake) located in Virginia. According to American Expedition, the average weight of a blue catfish is between 20 to 40 pounds. Given that the largest blue catfish ever caught was at the John H. Kerr Reservoir, you believe that the mean weight of the fish in this reservoir is greater than 40 pounds. Use the data below, which represents the summary statistics for 42 blue catfish caught at this reservoir, and a 0.05 significance level to test the claim that the mean weight of the fish in the John H. Kerr Reservoir is greater than 40 pounds. n=42; ¯x=40.63 pounds; s=3.49 pounds a) Identify the null and alternative hypotheses?H0: H1: c) Identify the appropriate significance level.d) Calculate your test statistic. Write the result below, and be sure to round your final answer to two…
State if these variables would be expected to have a positive, negative, or no association. A. Number of schools and population size. o Positive Negative No association B. Income and number of health conditions. Positive o Negative No association C. Time spent meditating and stress level. Positive o Negative No association D. Number of pets and amount of money spent on printer ink. Positive Negative o No association E. Life expectancy and death rate. Positive Negative o No association
Consider a medical test with a false positive rate of 1% and a false negative rate of 2%. The frequency of the condition in people who take this test is 3% Q4. If this test was given to 100,000 healthy people, how many false diagnoses would there be? Q5. What is the overall percentage of people who test "positive" who are actually negative for the condition? Q6. What is the overall percentage of people who test "negative" who are actually positive for the condition? # wrong diag. = ??? % pos. = ??? % % pos. = ??? %
Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2006, 9 of the 30 stocks making up the DJIA increased in price (The Wall Street Journal, February 1, 2006). On the basis of this fact, a financial analyst claims we can assume that 30% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day.A sample of 61 stocks traded on the NYSE that day showed that 30 went up.You are conducting a study to see if the proportion of stocks that went up is is significantly more than 0.3. You use a significance level of α=0.001α=0.001.What is the test statistic for this sample? (Report answer accurate to three decimal places.)test statistic = What is the p-value for this sample? (Report answer accurate to four decimal places.)p-value = The p-value is... less than (or equal to) αα greater than αα This test statistic leads to a decision to... reject the null accept the null…
A farmer only grows apple and orange trees in his orchard. 40% of his trees are apple trees. He is concerned that a parasite may be infecting his trees. The probability of the parasite infecting a given apple tree is 5% and the probability of the parasite infecting a given orange tree is 3%. Please give your answers to 3 decimal places, for example 0.305. a) What proportion of his trees are infected by the parasite? Your answer is 1 b) If a given tree is not infected, what is the probability that this tree was an apple tree? Your answer is
Kelly’s batting average is .30 (they hit 3 out of every 10 pitches). Let’s assume there are 120 pitches thrown in the first 8 games. !. There is a 70% chance they should hit at least how many pitches this season? Round down for this answer.
Rose randomly surveyed 50 students and found that 15 had a part-time job. If there are 750 students in Rose's school, predict the total number of students with a part-time job
You are a paranoid delusional statistician with far too much time on your hands. One day, you sit down to have a bowl of soup. This bowl of soup happens to be Tic-Tac-Toe themed, meaning that you have some noodles that are shaped like an X, and some that are shaped like an O. As you stir your soup, you notice that this bowl seems to have a particularly high number of X- shaped noodles in it. Being paranoid, you conclude that this has some meaning like someone is trying to give you a message, possibly warning you of the dangers of x-rays. You jump out of your seat and run to get your x-ray-proof cape, and then you pause for a moment and think that you should calculate a chi-square statistic for the frequency of X-shaped noodles before freaking out. First, you carefully separate each of the noodles by shape and count them. Here is what you find: Frequency of Noodles X-shaped 33 O-shaped 21 2. Write out the null and alternative hypotheses using symbols: Но: На:
The results of a recent study show that the proportion of people in the western United States who use seat belts when riding in a car or truckis under 84%. You want to support this claim.
An athletic director proudly states that he has used the average GPAs of the university's sports teams and is predicting a high graduation rate for the teams. Why is this method unsafe? Choose the correct answer below. OA. This method is unsafe because the average GPA may differ for each team. Using the average of the average GPA of each team obscures the possibility that certain teams tend to perform less well in classes. B. This method is unsafe because there is more variation in the GPAs of the athletes than the average GPA of the university's sports teams. Strong students may offset weak students in calculating the average GPAS, which makes it appear more likely that most students are doing well. OC. This method is unsafe because it is dangerous to extrapolate into the future. Classes in university tend to become more difficult, which makes it less likely that the average GPA will hold as time goes on. D. This method is unsafe because there is a minimum GPA required to graduate. If…

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