Question

q3. In your company, there is a manufacturing process that produces a part that inspectors grade...

q3. In your company, there is a manufacturing process that produces a part that inspectors grade as as either 1) Excellent, 2) Fair, or 3) Poor. The probabilities that a part is graded as excellent, fair, and poor are 1/8, 3/8, and 1/2; respectively. A new inspector, Steve, has just started working for your company. After performing three inspections, what is the probability that Steve grades an excellent part before a poor part?

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
XYZ Manufacturing Company produces three types of expresso machines: Grade-A model, GradeB model, and Grade C...
XYZ Manufacturing Company produces three types of expresso machines: Grade-A model, GradeB model, and Grade C model. The Grade-A model is sold at a unit price of $750 per unit; Grade-B model is sold at $600 per unit; Grade-C model is sold at $450 per unit. XYZ requires 25lb of steel and 5 labor hours to manufacture a Grade-A machine requires, 22lb of steel and 4 labor hours for a Grade-B machine, and 20lb of steel and 3 labor hours...
Turner Company currently produces a part which has the following per unit cost:   Direct materials $...
Turner Company currently produces a part which has the following per unit cost:   Direct materials $ 8   Direct labor $3   Variable overhead $1   Fixed overhead    $5    ______    $17 Turner Company can buy the part from an outside supplier for $19 per unit. 60% of Turner Company’s fixed overhead would continue if the part is purchased. If the part is not manufactured by Turner, then the plant facilities can be rented for $60,000 per year. Turner Company is...
3. The Dynaco Manufacturing Company produces a product in a process consisting of operations of five...
3. The Dynaco Manufacturing Company produces a product in a process consisting of operations of five machines. The probability distribution of the number of machines that will break down in a week follows: Machine Breakdowns Per Week   Probability 0 0.10 1 0.20 2 0.15 3 0.30 4 0.15 5 0.10 1.00 a. Simulate the machine breakdowns per week for 20 weeks. b. Compute the average number of machines that will break down per week. 4. Simulate the following decision situation...
Product Pricing and Profit Analysis with Bottleneck Operations Hercules Company produces three grades of steel: high,...
Product Pricing and Profit Analysis with Bottleneck Operations Hercules Company produces three grades of steel: high, good, and regular grade. Each of these products (grades) has high demand in the market, and Hercules is able to sell as much as it can produce of all three. The furnace operation is a bottleneck in the process and is running at 100% of capacity. Hercules wants to improve steel operation profitability. The variable conversion cost is $10 per process hour. The fixed...
A manufacturing company produces water filters for home refrigerators. The process has typically produced about 4%...
A manufacturing company produces water filters for home refrigerators. The process has typically produced about 4% defective liters. A new design experiment has led to change the seal to reduce defects. With the process running using the new seal, a random sample of 300 liters yielded 7 defects. Conduct a hypothesis test at the 10% significance level. 1. Set up the null and alternative hypotheses. 2. Compute the test statistic. 3. State the p-value for the test. 4. State the...
Constrained Optimization: One Internal Binding Constraint Patz Company produces two types of machine parts: Part A...
Constrained Optimization: One Internal Binding Constraint Patz Company produces two types of machine parts: Part A and Part B, with unit contribution margins of $300 and $600, respectively. Assume initially that Patz can sell all that is produced of either component. Part A requires two hours of assembly, and B requires five hours of assembly. The firm has 300 assembly hours per week. Required: 1. Express the objective of maximizing the total contribution margin subject to the assembly-hour constraint. Objective...
Constrained Optimization: One Internal Binding Constraint Patz Company produces two types of machine parts: Part A...
Constrained Optimization: One Internal Binding Constraint Patz Company produces two types of machine parts: Part A and Part B, with unit contribution margins of $300 and $600, respectively. Assume initially that Patz can sell all that is produced of either component. Part A requires two hours of assembly, and B requires five hours of assembly. The firm has 300 assembly hours per week. Required: 1. Express the objective of maximizing the total contribution margin subject to the assembly-hour constraint. Objective...
The management of Marigold Manufacturing Company is trying to decide whether to continue manufacturing a part...
The management of Marigold Manufacturing Company is trying to decide whether to continue manufacturing a part or to buy it from an outside supplier. The part, called CISCO, is a component of the company’s finished product. The following information was collected from the accounting records and production data for the year ending December 31, 2017. 1. 7,900 units of CISCO were produced in the Machining Department. 2. Variable manufacturing costs applicable to the production of each CISCO unit were:     direct...
Ace Manufacturing produces commercial lawnmowers units in batches. the company estimates the demand for the year...
Ace Manufacturing produces commercial lawnmowers units in batches. the company estimates the demand for the year is 10,000 units. It costs about $80 to set up the manufacturing process, and the carrying cost is about 70 cents per unit per year. When the production process has been set up, 120 lawnmowers units can be made daily. The demand during the production period is approximately 60 units per day. The company operates its production area 167 days per year and includes...
A manufacturing company that produces tires has the following production function and marginal product function The...
A manufacturing company that produces tires has the following production function and marginal product function The machine that molds the tires costs $100. Each unit of raw rubber cost the firm $3. The firm sales each tire at a price of $50. The production process produces a waste that is dumped into a nearby river which kills fish. Because of the smaller fish population, this financially harms local fishermen. More specifically, for every unit of raw rubber the tire manufactory...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT