
Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Jankord Jewelers permits the return of their diamond wedding rings, provided the return occurs within two weeks. Typically, 20 percent are returned. If nine rings are sold today, what is the probability that fewer than four will be returned?
A- 0.914
B- 0.962
C- 0.923
D- 0.935
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 2 steps

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.Similar questions
- Suppose that specification for a production part diameter is 6.00 + 0.02 inches. That is, the part is to have a diameter of 6 inches with a tolerance of plus or minus 0.02 inch. If the Taguchi loss function measured in dollars is L(x) = 116,800 (x - T)2, then to the nearest penny, the economic loss associated with a part having diameter of 6.015 inches is (?) dollars?arrow_forwardCalculate the moment of inertia the given shape with respect to x and y axes also with respect to center of gravity. Please can you solve it step by step and clearly ?.arrow_forwardNo Pain Corp Omar Amman, the CEO of No Pain Corp (NPC), is under stress. They produce transcutaneus electrical nerve simulation units (TENS) for pain control. Amman faces a new opportunity and is not sure how to go about it. Recently, the the Department of Health of Canada has approved low current TENS devices to be sold directly to consumers without a doctor’s note. This will come into effect in three months. In the past, one needed a doctor’s note and could rent the device from some companies. These TENS machines, as they are called in Canada, are popular, since the older population has found them to be effective in pain control with almost no side effects. Amman can sell the device via drug-stores and pharmacies as well as on Amazon. But, Amman is not sure. Amman used to work as a supply chain manager for a power-tool company. Back then, it was a huge logistical “pain,” no pun intended, to work with large retailers and to attend to their fulfilment needs. Those retailers used to…arrow_forward
- What is an example of a learning objective for a lesson on Integrating Writing in Math in a first-grade classroom? The learning objective should include the following required components: behavior, condition, and measurable criterion that aligns with both of the below standards. Math Standard Solve real-world problems involving addition and subtraction within 20 in situations of adding to, taking from, putting together, taking apart, and comparing with unknowns in all parts of the addition or subtraction problem (e.g., by using objects, drawings, and equations with a symbol for the unknown number to represent the problem). Writing Standard Produce (when writing or speaking) a topic sentence or main idea, provide some facts or details about the topic, and provide a concluding statement.arrow_forwardA piece of industrial machinery costs $48,000 to replace and has essentially no salvagevalue. Over the first five years of operation, maintenance costs amounted to $8,000. Ifthe maintenance cost rate is a linear function of time, what is the optimal age at whichto replace the machinery?arrow_forwardGiven that Z is a standard normal random variable. What is the value of Z if the area to the right of Z is 0.1401? -1.08 0.1401 1.08 2.16arrow_forward
- Large-scale integrated (LSI) circuit chips are made in one department of an electronics firm. These chips are incorporated into analog devices that are then encased in epoxy. The yield is not particularly good for LSI manufacture, so the AQL specified by that department is 0.15 while the LTPD acceptable by the assembly department is 0.40. Assume the company is willing to accept a consumer's risk of 10 percent and a producer's risk of 5 percent. Find the sample size. Use Exhibit 10.16. Note: if the exact value of the computed LTPD ÷ AOQ ratio does not appear in Exhibit 10.16, use the next higher ratio. Note: Round up your answer to the next whole number. How would you tell someone to do the test?arrow_forwardA collection of 30 Christmas tree lights are arranged in a pure series circuit; that is, ifone of the lights burns out, then the entire string goes out. Suppose that each light failscompletely at random at a rate of one failure every year. What is the probability that thelights will burn from the beginning of Christmas Eve (December 24) to the end of NewYear’s Day (January 1) without failure?arrow_forwardAfter meeting with a supervisee, the supervisor believes that one of the supervisee’s clients is in danger of harming herself. The supervisee disagrees, he believes that the client is not at risk and decides not to take any action, despite requests by the supervisor. The supervisor decides to contact the client herself and makes arrangements to have her committed to a psychiatric unit. Has the supervisee acted ethically? Professionally? Has the supervisor acted ethically? Professionally?arrow_forward
- If a binomial distribution applies with a sample size of n = 20, find the probability of at least 7 successes if the probability of a success is 0.25. 0.2142 0.1814 0.3123 0.2333arrow_forwardA design engineer is considering the number of levels of redundancy to buildinto a particular circuit. The circuit will be part of a sensitive piece of equipmentwith cost estimated at $500 per failure. Each additional level of redundancy costs$100. If each component fails at random at a rate of one failure every five years,what level of redundancy most closely equates the cost of the design with the expected failure cost of the equipment over its 10-year life cycle?arrow_forward40. Habard's, a chain of hardware stores, sells a variety of tools and home repair items. One of their best wrenches sells for $5.50. Habard's will include a three-year free replacement warranty for an additional $1.50. The wrench is expected to be sub- ject to heavy use and, based on past experience, will fail randomly at a rate of one every eight years. Is it worth purchasing the warranty?arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- Understanding BusinessManagementISBN:9781259929434Author:William NickelsPublisher:McGraw-Hill EducationManagement (14th Edition)ManagementISBN:9780134527604Author:Stephen P. Robbins, Mary A. CoulterPublisher:PEARSONSpreadsheet Modeling & Decision Analysis: A Pract...ManagementISBN:9781305947412Author:Cliff RagsdalePublisher:Cengage Learning
- Management Information Systems: Managing The Digi...ManagementISBN:9780135191798Author:Kenneth C. Laudon, Jane P. LaudonPublisher:PEARSONBusiness Essentials (12th Edition) (What's New in...ManagementISBN:9780134728391Author:Ronald J. Ebert, Ricky W. GriffinPublisher:PEARSONFundamentals of Management (10th Edition)ManagementISBN:9780134237473Author:Stephen P. Robbins, Mary A. Coulter, David A. De CenzoPublisher:PEARSON

Understanding Business
Management
ISBN:9781259929434
Author:William Nickels
Publisher:McGraw-Hill Education

Management (14th Edition)
Management
ISBN:9780134527604
Author:Stephen P. Robbins, Mary A. Coulter
Publisher:PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract...
Management
ISBN:9781305947412
Author:Cliff Ragsdale
Publisher:Cengage Learning

Management Information Systems: Managing The Digi...
Management
ISBN:9780135191798
Author:Kenneth C. Laudon, Jane P. Laudon
Publisher:PEARSON

Business Essentials (12th Edition) (What's New in...
Management
ISBN:9780134728391
Author:Ronald J. Ebert, Ricky W. Griffin
Publisher:PEARSON

Fundamentals of Management (10th Edition)
Management
ISBN:9780134237473
Author:Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:PEARSON