The Tailure rates of transistors in a computer are summarized in the following table. End of week 2. 3 4 Probability of failure to date 0.09 0.17 0.27 0.50 0.65 0.90 1.00 The cost of replacing an individual failed transistor is $8. If all the transistors are replaced simultaneously, it would cost $4 per transistor. Any one of the following two options can be followed to replace the transistors: (a) Replace the transistors individually when they fail (individual replacement policy). (b) Replace all the transistors simultaneously at fixed intervals and replace the individual transistors as they fail in service during the fixed interval (Group replacement policy). Find out which is the optimal replacement policy, i.e. the individual replacement policy or the group replacement policy. If the group replacement policy is optimal, then find at what equal intervals should all the transistors be replaced.

Diagram mandatory then solve pls

8. The Canadian National Advisory Committee on Immunization (NACI) recommended against vaccinating the whole population against the smallpox virus because the vaccination has undesirable, and sometimes fatal, side effects. Suppose the accompanying table gives the data that are available about the effects of a smallpox vaccination program. Percent of population vaccinated 0% 10 20 30 40 50 60 Deaths due to smallpox 200 180 160 140 120 100 80 Deaths due to vaccination side effects 0 4 10 18 33 50 74 a. Calculate the marginal benefit (in terms of lives saved) and the marginal cost (in terms of lives lost) of each 10% increment of smallpox vaccination. Calculate the net increase in human lives for each 10% increment in population vaccinated. b. Using marginal analysis, determine the optimal percentage of the population that should be vaccinated.

you and a friend decide to run a three mile race. If you agree to run together, you keep up with himfor the first mile, but you overexert yourself and run the last two miles at slower paces on your own. Tomake up for lost time, your friend runs the last two miles at a faster pace. Your mile times are 6:30, 7:00,and 7:30. Your friend’s times are 6:30, 6:00, and 6:00. If you both agree to run on your own, you run aconstant pace of 7:05 while your friend runs at a constant pace of 6:05. If you want to run together butyour friend wants to run solo, he runs his constant pace of 6:05. You, on the other hand, want to showhim that you can run faster, but you end up overexerting yourself after the first mile. You run times of6:20, 7:05, and 7:30. If he wants to run together but you do not, you both run at your pace of 7:05. Thissituation can be turned into an economic game, with the payoffs the overall race times. You each wantto run the fastest time you possibly can.(a) Who are the players in…