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grin007 [14]
3 years ago
10

A random experiment with three outcomes has been repeated 50 times, and it was learned that E1 occurred 20 times, E2 occurred 13

times, and E3 occurred 17 times. Assign probabilities to the following outcomes for E1, E2 and E3. Round your answer to two decimal places. What method did you use?a) classical methodb) relative frequency methodc) subjective method
Business
1 answer:
enot [183]3 years ago
8 0

Answer:

P(E1)=\frac{20}{50}=0.4

P(E2)=\frac{13}{50}=0.26

P(E3)=\frac{13}{50}=0.34

I used the relative frequency method

Explanation:

To solve this question we can use the relative frequency to find out each probability. The relative frequency is the ratio of the occurrence of each event and the total number of outcomes.

Here the experiment has been repeated 50 times, so that is the total number of outcomes and the denominator. There are 3 possible events E1, E2, and E3, so we can calculate the ratios to get the probabilities

Event E1 occurred 20 times of the 50: P(E1)=\frac{20}{50}

Event E2 occurred 13 times of the 50: P(E2)=\frac{13}{50}

Event E3 occurred 17 times of the 50: P(E3)=\frac{17}{50}

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______ is held to respond to the uncertainties in demand and supply levels.
rusak2 [61]

Answer:

Safety Stock.

Explanation:

Safety Stock is held to respond to the uncertainties in demand and supply levels because it is an additional amount of a product or material which is generally held in an inventory to mitigate or lessen the risk that a product or material will become out of

stock.

In Business management, the safety stock can be calculated using the following formula;

<em>Safety stock = (Md * Ml) - (Ad * Al) </em>

Where;

Md = maximum daily usage.

Ml = maximum lead time in days.

Ad = average daily usage.

Al = average lead time in days.

3 0
3 years ago
Compared to a purely competitive firm in long run equilibrium, the monpolistic competitor has a?
Airida [17]

Compared to a purely competitive firm in long-run equilibrium, the monopolistic competitor has a higher price and lower output.

<h3>When a monopolistic competitive firm is in long-run equilibrium?</h3>

Long Run Monopolistic Competition Equilibrium: Over the long run, a company in a market with the monopolistic competition will produce several items at the point where the long-run marginal cost (LRMC) curve crosses the marginal revenue curve (MR). Where the quantity produced lies on the average revenue (AR) curve will determine the pricing.

<h3>What ultimately transpires to a monopolistic rival?</h3>

Long-term economic gains or losses in monopolistic competition will be removed by entry or leave, leaving firms with no economic gains. There will be some excess capacity in a monopolistically competitive business; this could be seen as the price paid for the variety of products that this market structure brings about.

Learn more about monopolistic competition: brainly.com/question/28189773

#SPJ4

3 0
2 years ago
What is a example of good customer service?
PtichkaEL [24]

Answer:

Jet blue= thanks frequent customers with small gesturer

Tesla= meet your customers where they r at

7 0
3 years ago
If a manufacturing process takes 4 hours per unit of x1 and 2 hours per unit of x2 and a maximum of 100 hours of manufacturing p
Darina [25.2K]

The algebraic formulation of the constraint involved in this manufacturing process is <u>c. 4x1 + 2x2 <= 100</u>.

<h3>What is a constraint?</h3>

A constraint is a condition that an optimization problem must satisfy to provide a solution.

The types of constraints are:

  • Equality constraints
  • Inequality constraints
  • Integer constraints.

<h3>Answer Options:</h3>

a. 4x1 + 2x2 >= 100

b. 4x1-2x2 <= 100

c. 4x1 + 2x2 <= 100

d. 4x1 2x2 >= 100

Thus, the algebraic formulation of the constraint involved in this manufacturing process is <u>c. 4x1 + 2x2 <= 100</u>.

Learn more about constraints at brainly.com/question/23796291

7 0
2 years ago
Chavez Corporation reported the following data for the month of July: Inventories: Beginning Ending Raw materials $46,000 $39,50
Archy [21]

Answer:

Cost of goods manufactured= $228,700

Explanation:

<u>To calculate the cost of goods manufactured, we need to use the following formula:</u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 25,500 + (46,000 + 75,500 - 39,500) + 100,500 + (68,500 - 11,800) - 36,000

cost of goods manufactured= $228,700

We deduct the indirect material from overhead because it is already incorporated into direct materials.

6 0
3 years ago
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