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- Suppose a company charges a premium of $150 per year for an insurance policy for storm damage to roofs. Actuarial studies show that in case of a storm, the insurance company will pay out an average of $8000 for damage to a composition shingle roof and an average of $12,000 for damage to a shake roof. They also determine that out of every 10,000 policies, there are 7 claims per year made on composition shingle roofs and 11 claims per year made on shake roofs. What is the company’s expected value (i.e., expected profit) per year of a storm insurance policy? What annual profit can the company expect if it issues 1000 such policies? Determine the probability of a composition shingle roof claim out of 10,000 = ______ Determine the probability of a shake roof claim out of 10,000 = ______ How many claims are made out of 10,000? = _______ What is the probability of no claims out of 10,000? = _______ How much does each shingle roof claim cost the company, don’t forget each person pays $150…1. Due to the high incidence of crime, a company is giving its employees new and secured access to the company. Instead of leaving the doors open, they are installing a card system. To open the door, employees must insert a card into a slot. If a green light comes on, it is okay to turn the handle and open the door; if a yellow light comes on it indicates the door is locked from inside and you cannot enter. Suppose that 90% of the time when the card is inserted, the door should open because it is not locked from the inside. When the door should open, the system makes errors 2% of the time. That is, the green light will appear 98% of the time. When the door should not open, the system makes errors 5% of the time (green light appears). Suppose you inserted the card and the light is green, what is the probability the door will open?Consider a screening system that analyzes the luggage that is being loadedto a plane. Each package first goes through a screening device. If it passes the test there, then it is loaded to the plane. If it does not, the package goes to a second screening device. The procedure is similar for the second device: if the luggage passes the test, it is loaded to the plane, if it fails, it issent to a third device. Packages that passes the test at third device are loladed to the plane, the ones that fail are taken paprt and not loaded to the plane.The screening devices i = 1; 2; 3 are not perfect. For each device, there are two risks:– With probability pi, each device erroneously passes a bag that is dangerous, given that previous devices have correctly rejected the bag.– With probability qi, each device erroneously fails a harmless bag that previous devices have also erroneously failed.Assume that pi; qi > 0 What is the probability that a dangerous package will be loaded to the aircraft?…
- a company manufactures a total of 8000 motorcycles a month in three plants A, B and C Of the 8000 motorcycles , plant A manufactures 4000, and plant B manufacturers 3000. At plant A, 85 out of 100 motorcycles are of standard quality or better. At plant B, 65 out of 100 motorcycles are of standard quality or better. At plant B, 65 out of 100 motorcycles are of standard quality or better and at plant C, 60 out of 100 motorcycles are of standard quality or better.The quality controller randomly selects a motorcycle: a) Caculate the probability that its qualtiy is sub-standard, b) If the motorcycle is of sub-standard quality calculate the probability that it has come from plant B.Suppose I have 5 operators with different rates of productivity on the drill presses, stamping presses, and lathe in my facility (note that all 5 workers are trained to run any of the equipment). I need to assign these 5 workers to 2 drill presses, 2 stamping presses, and 1 lathe and I want to find the best assignment of workers. How many different ways can I assign the workers if Each type of machine is set up to do the same work (e.g., both stamping presses perform the same operation). Each type of machine is set up to do different work (e.g., both stamping presses perform different operations).A researcher is interested in understanding how the flexibility of vacation policies at a company influence employee satisfaction with their job. Company 1, Vance Refrigeration, has a 2 week vacation policy in which employees can take those 2 weeks at any time during the year. Company 2, Dunder Mifflin Paper Company, has a 2 week vacation policy in which employees can only take vacation days during specific pre-approved times of year. What is the confound?
- A researcher has discovered six new species of insects overseas and needs to transport them home. Some species will harm each other and so cannot be transported in the same container. Species A cannot be housed with species C or F.Species B cannot be housed with species D or F.Species C cannot be housed with species A, D, or E.Species D cannot be housed with species B, C, or F.Species E cannot be housed with species C or F.Species F cannot be housed with species A, B, D, or E. Use graph coloring to determine the minimum number of containers the researcher will need to transport the insectsAn engineering company will hire new staff to develop new products, using production teams of engineers (core staff) and support staff on each team. Teams are labeled as: Design, Production, Analysis, Test. The core staff numbers in each team and the total number of engineers in each field to be recruited are as follows: Each design team consists of 2 Construction / environment, 4 Mechanical / design and 2 computer / software personnel; each production team consists of 3 construction/environmental, 0 mechanical/design and 6 computer/software personnel; and such that.)Accordingly, if x1, x2, x3 and x4 are the number of design, production, analysis and testing teams, respectively, find these values.In how many ways can the television director of Exer-cise 38 fill the six time slots for commercials if there are three different sponsors and the commercial for each is tobe shown twice?
- Your company is involved in a confidential project involving the development of asystem related to national security. Due to the high sensitivity of the project, youneed to ensure that only authorized employees are allowed to work on the project.Furthermore, all assets related to the project needs to be securely managed andmonitored. a) How do you intend on controlling your staffs involved in the confidential project? b) How do you plan on managing and monitoring the usage of assets related tothe project during the development of the system? Examples of asset includethe hardware and software that are used in the project. c) After the project has been completed, what are your plans regarding thehardware that have already been used during the development of the system?Are they going to be re-used, disposed, recycled, or maybe a combination ofthese actions? Explain your answer.1st blank: 0.6267, 0.5006, 33, 0.7843 2nd blank: 1.44, 2.25, 1.15, 1.80 3rd blank: 0.7843, 0.6267, 0.5006, 0.4 4th blank: 2.25, 1.80, 1.15, 1.44 5th blank: larger or smaller 6th blank: 0.2689, 0.1293, 0.0145, 0.0378 7th blank: 0.0378, 0.1293, 0.0100, 0.2612 8th blank: flatter and more spread out or more like the z distribution2. A research Development department at Oda manufacturing company determines that 20% of people who purchase their products during any given month will not purchase the next month. On the other hand, 30% of the people who could not purchase during any given month will purchase in the next month. On a population of 1000 people 100 purchased their products this month. How many will purchase their product. 1. In the long run?
