(4.) Suppose you are running a manufacturing plant building computer chips for smart phones. You supply...
A manufacturing plant produces memory chips to be used in cardiac pacemakers. The manufacturing process produces a mix of "good" chips and "bad" chips. The lifetime of good chips follows an exponential law with a rate of failure a, that is: P[chip still functioning after time t]-e-t The lifetime of bad chips also follows an exponential law, but with a much faster failure rate of 500*a. a. Suppose the fraction of bad chips in a typical batch is χ. What...
Problem 2 A firm manufacturing memory chips found that if everything was going right, 10% of them were defective. If the production process was in trouble then 40% were defective. Firm's quality control office tests four memory chips each hour. If two or more of four were defective, production would be shut down to look for trouble. (a) What is Type I and Type II errors here? (b) What is probability that production will be shut down if everything was...
(5.) You run a store that sells Christmas trees for Sd each. Suppose the number of customers that enter your store on a given day is described by a Poisson random variable with parameter λ. Further, suppose that each customer buys a tree with probability p, and that all customers are independent. (a) What is the expected number of customers that enter your store on a given day? (b) What is your expected revenue for a single day (revenue is...
Question 4: The Binomial Distribution The company you are working for just received an order for 25 castings, made from precious metals. Each casting will sell for $5,000; however, it is also costly to produce at $2,500. Your manufacturing facility can produce castings of high quality with a probability of 0.98. All castings are produced independently. The customer would like to receive 25 castings of high quality. However, they are willing to accept less than 25: if that happens you...
Have to show work for every problem 4. A company uses three plants to produce a new computer chip. Plant A produces 30% of the chips. Plant B produces 45% of the chips. The rest of the chips are produced by plant C. Each plant has its own defectiv rate. These are: plant A produces 3% defective chips, plant B produces 1% defective chips, plant C produces 5% defective chips. Hint: draw a tree diagram. (a) Construct a tree diagram...
Q R S T U A B C D E F G H 4 Problem C (26 points): 5 Statue Company is able to produce two products, a Fancy Statue and a Plain 6 Statue with the same machine in its factory. NOTE that only ONE Statue can be 7 manufactured at a time using this machine. The Company currently makes both 8 statues, but management is concerned that this strategy is not providing 9 maximum benefit. They are thinking...
Should World Kitchen outsource Pyrex production and close the Charleroi plant? If so, how many suppliers should the company employ and where should they be located? We were unable to transcribe this imagedishwas resulted from a process that pressed together yers of thin, strengthened opaque glass. products if they were moved overseas and simply source the lower-cost private-label versions directly sales and marketing functions. THE MARKET Givsn its extensive experience with outsourcing the Giobal Sourcing Department at World Kitchen had...
4. Perform a SWOT analysis for Fitbit. Based on your assessment of these, what are some strategic options for Fitbit going forward? 5. Analyze the company’s financial performance. Do trends suggest that Fitbit’s strategy is working? 6.What recommendations would you make to Fitbit management to address the most important strategic issues facing the company? Fitbit, Inc., in 2017: Can Revive Its Strategy and It Reverse Mounting Losses? connect ROCHELLE R. BRUNSON Baylor University MARLENE M. REED Baylor University in the...
write a detailed summary in an organized format. It must include 3-4 key points of the controversy. Break up your summary in 3-4 paragraphs. Must include specific reasons as to why a vegetarian diet can be better and or worse than the meat heavy diets? Explain briefly using examples how reading this controversy has helped you in making better dietary choices in future? CONTROVERSY 6 Table of Contents Vegetarian and Meat-Containing Diets: What Are the Benefits and Pitfalls? Notebook LO...
HARVARD BUSINESS SCHOOL 9-107-061 RENAUGET Survey Masters LLC (A) Natalie Patel and Carlos Lopez met while studying statistics together at Northeastern University in Boston. After graduation Patel had accepted a position with the largest independent marketing research firm in the United States, and lope went to work for Progressive Insurance outside Cleveland as an actuary. At their tenth class reunion in 2003 they met again. Each was somewhat unhappy in their current job, and both wanted to return to the...