Assist with HW Historical data shows that 15 of finished products from of a production line is faulty and must be either refurbished or scrapped You are inspecting a box of 20 units from the latest production batch What is the probability that you will find at most 3 faulty units Assume Binomial distribution Historical data shows that 15 of finished products from of a production line is faulty and must be either refurbished or scrapped You are inspecting a box of 20 units from the latest production batch What is the probability that you will find at least 5 faulty units Assume Binomial distribution Historical data shows that 15 of finished products from of a production line is faulty and must be either refurbished or scrapped You are inspecting a box of 20 units from the latest production batch What is the expected number of faulty items Your business plan indicates that the new product line may turn in $55,000 profit next year if demand is strong, $35,000 profit if demand is average and $18,000 loss if demand is weak Market study shows 25 probability for a strong demand, 40 probability for average demand, and 35 for a weak demand next year What is the expected monetary value (EMV) of this new product line for next year Use the following information to answer Students arrive at the reference desk of the library at an average rate of 12 per hour Assume Poisson distribution applies Compute the probability that at least 14 students arrive in the next two hours

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Assist with HW

Historical data shows that 15% of finished products from of a production line is faulty and must be either refurbished or scrapped.You are inspecting a box of 20 units from the latest production batch. What is the probability that you will find at most 3 faulty units? Assume Binomial distribution.
Historical data shows that 15% of finished products from of a production line is faulty and must be either refurbished or scrapped.You are inspecting a box of 20 units from the latest production batch. What is the probability that you will find at least 5 faulty units? Assume Binomial distribution.
Historical data shows that 15% of finished products from of a production line is faulty and must be either refurbished or scrapped.You are inspecting a box of 20 units from the latest production batch. What is the expected number of faulty items?
Your business plan indicates that the new product line may turn in $55,000 profit next year if demand is strong, $35,000 profit if demand is average and $18,000 loss if demand is weak. Market study shows 25% probability for a strong demand, 40% probability for average demand, and 35% for a weak demand next year. What is the expected monetary value (EMV) of this new product line for next year?
Use the following information to answer : Students arrive at the reference desk of the library at an average rate of 12 per hour. Assume Poisson distribution applies. Compute the probability that at least 14 students arrive in the next two hours?