EBK PRODUCTION AND OPERATIONS ANALYSIS
EBK PRODUCTION AND OPERATIONS ANALYSIS
7th Edition
ISBN: 9781478628385
Author: Olsen
Publisher: WAVELAND PRESS (ECONTENT)
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Chapter 13.2, Problem 7P

a

Summary Introduction

Interpretation:

Probability Density Function

Concept Introduction:

Probability Distribution Function is a likelihood of an event to occur for discrete random variables. Graphically, it shows how likely variables will fall under the probability area.

b

Summary Introduction

Interpretation:

Probability that a piece of equipment survives more than 20 years.

Probability is the likelihood of an event to occur.. It ranges between 0 to 1. O implies no chance of occurance while 1 implies 100% chance of occurance.

c

Summary Introduction

Interpretation:

Probability that a piece of equipment survives more than 10 years but fewer than 20 years.

Concept Introduction:

Exponential distribution is a probabilitydistribution which finds probability of an event to occur between independent constant rate and continous rate.

Probability is the likelihood of an event to occur.. It ranges between 0 to 1. O implies no chance of occurance while 1 implies 100% chance of occurance.

d

Summary Introduction

Interpretation:

Probability that a piece of equipment survives more than 20 years given it has survived for 10 years

Concept Introduction:

Exponential distribution is a probabilitydistribution which finds probability of an event to occur between independent constant rate and continous rate.

Probability is the likelihood of an event to occur.. It ranges between 0 to 1. O implies no chance of occurance while 1 implies 100% chance of occurance.

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