DEPARTMENT OF MANAGEMENT SCIENCE
MSCI212: STATISTICAL METHODS FOR BUSINESS
商业统计代写 A machine part has a probability of 0.9 of working. A component consists of three parts linked in series, i.e. the component…
Week 1 Workshop 商业统计代写
Q1. A machine part has a probability of 0.9 of working. A component consists of three parts linked in series, i.e. the component only works if all the parts work. A machine consists of two components in parallel, i.e. the machine will work if either component (or both) works. What is the probability that the machine will work?
Q2. The possible daily demand for “The Economist” at a station news stand has the following probabilities: 商业统计代写
The news dealer must pay 50p for each copy. Each magazine sells for £1 and unsold copies are returned to the distributor for a 5p refund.
(a) When 6 copies are stocked, calculate the profit (or loss) for each possible level of demand (D).
(b) Use this information and the probability figures for D to calculate E(Profit/stock=6). 商业统计代写
(c) How many copies should he stock to maximise his E(Profit)?
