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A marketing company performed a risk analysis for a manufacturer of synthetic fibers and concluded that new competitors present no risk 15% of the time
A marketing company performed a risk analysis for a manufacturer of synthetic fibers and concluded that new competitors present no risk 15% of the time (due mostly to the diversity of fibers manufactured), moderate risk 70% of the time (some overlapping products), and very high risk 15% of the time (competitor manufactures the exact same products). It is known that 12 international companies are planning to open new facilities for the manufacture of synthetic fibers within the next three years. Assume the companies are independent. Let X, Y, and Z denote the number of new competitors that will pose no, moderate, and very high risk for the interested company, respectively. Determine the following. Round your answers to 4 decimal places. (a) P(X = 1, Y = 3, Z = 1) = (b) P(Z = 2) = (c) P(Z = 2[Y = 1, X = 10) = (d) P(Z s 1 X = 10) = (e) P(Y s 1, Z s 1 X = 10) = (f) E(Z X = 10) =
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