Suppose that a product is produced in three factories X, Y and Z. It is known that factory X produces thrice as many items as factory Y, and that factories Y and Z produce the same number of items. Assume that it is known that 3 per cent of the itenis produced by each of the factories X and Z are defective while 5 per cent of those manufactured by factory Y are defective. All the items produced in the three factories are stocked, and an item of product is selected at random. (i) What is the probability that this item is defective? (ii) If an item selected at random is found to be defective, what is the probability that it was produced by factory X, Y and Z respectively?

Suppose that a product is produced in three factories X, Y and Z. It is known that factory X produces thrice as many items as factory Y, and that factories Y and Z produce the same number of items. Assume that it is known that 3 per cent of the itenis produced by each of the factories X and Z are defective while 5 per cent of those manufactured by factory Y are defective. All the items produced in the three factories are stocked, and an item of product is selected at random. (i) What is the probability that this item is defective? (ii) If an item selected at random is found to be defective, what is the probability that it was produced by factory X, Y and Z respectively?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 18RQ: What are four responses to the claim that people should not behave in the way described in this...

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