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4. A system consists of three independent components connected in perallol (i.e., the system is operational if at least one c

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Answer #1

Let X be the number of non-working components on a particular day

P(X = 0) = (1 - 0.2)3 = 0.512

P(X = 1) = 3C1 * 0.2 * 0.82 = 0.384

P(X = 2) = 3C2 * 0.22 * 0.8 = 0.096

P(X = 3) = 0.23 = 0.008

Cost of lost production when X is 0 = 0

Cost of lost production when X is 1 = 1 * e2*1 = 7.389

Cost of lost production when X is 2 = 2 * e2*2 = 109.196

Cost of lost production when X is 3 = 3 * e2*3 = 1210.286

Expected average cost of lost production per day = 0 * 0.512 + 7.389 * 0.384 + 109.196 * 0.096 + 1210.286 * 0.008 = 23 (ans)

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