Probability Assignment | Professional Writing Services
bled is sold at a price of R610. The labour wageentioned opergod, each, Nagawa Corporaugbe produced but no morethan 100 fans should be produced.Formulate a Linear Programming (LP) model thaof Kigawa Corporationel that will maximize the profitSolve this LP using the graphical method.Determine the slack or surplus value for each of the constraints?Market Researarchers, Inc., has been hired by a project consulting wiring teif a project to be embarked on by thiscompany will be successful or it will fail.
In similarnilar studies performed inccessful, the market resch study indicated that the project will beful, 85% of the time. On the other hand, wheneveractually fails, the market study incorrectly predicted that the provedriotsbe successful 20% of the time. Before the study is performed, it isthat the project will be successful. Whenbelieved there is a 70% chance that the project will beMarket Researchers, Inc. performs the study for this project, the resultspredict that the project will be successful.Given the results of this study, what is the probability that the project willactually be successful?Given the results of this study, what is the probability that the project willIf the Market Researchers, Inc. predicts that the project will fail, what isthe probability that the project will actually be successful?Question 22.1Manufacturing produces cases for personal computers andTrowbridge Manufactura both nativeother electronic equipment. The quality control_inspector for thiscompany believes that a particular process is out of control. Normally,only 15% of all cases are deemed defective due to discolorations.
If 8such cases are sampled,What is the probability that there will be 2 defective cases, if the processis operating correctly?b.What is the probability that there will be exactly 4 defective cases?2.2 TThe time to complete a construction project is normally distributed with amean of 80 weeks and a variance of 64 weeks.What is the probability that the project will be finished in 85 weeks or6.What is the probability that the project will take longer than 90 weeks?C.What is the probability that the project 87 weeks and 90 weeks?Question 33.1Mr Kagiso, a project manager iser is not sure what he should do. He caneither build a quadplex (i.e., a building with four apartments), build aduplex, gather additional information, or simply do nothing. If he gathersadditional.
Information, the results could be either favorable_orit would cost him R6500 to gather the information.unfavorable, but it would cost zam chanceKagiso believes that there is a 78% chance that the informationfavorable. If the rental market is favorable, Kagiso will earn R35000 withthe quadplex or R10000 with the duplex. Kagiso doesn’t have thefinancial resources to do both. With an unfavorable rental market,however, Kagiso could lose R15000 with the quadplex or R7500 with theduplex. Without gathering additional information, Kagbability of a favorable rental marketformation, Kagiso estimates thatat is 0.85. A favorable reportfrom the study wouwould increase the probability of a favorable rental marketto 0.90. Furthermore, an unfavorable_report from the additionalinformation would decrease the probability of a favorable rental marketnothing.to 0.3. Of course, Kagiso could forget all of these numbers and doWhat is your advice to Kagiso as a decision analyst?(14)
Get Statistics homework help today
