Mary begins an internship at a small company that makes touchscreens for imported smartphones. Her first assignment is to estima
te the probability of rejecting a randomly sampled box of eight flat screens. But her boss explains that there are two complications. The first is that the contract between the company and the importer demands that she inspect exactly two screens per box of eight and then that she accept the box only if both screens are not defective. The second is that 60% of the boxes have only one defective screen in them while 40% of the boxes have three defective screens in them. Mary’s boss wants to know if this means that more than half the boxes will be rejected. How should Mary answer?
The reason is that when the manufacturer produces a number of quality range products and price them accordingly. This means that the customer who has different level of purchasing power can fulfill his needs and wants accordingly. So producing a single product limits the satisfying of needs and wants of small customer segment whereas producing multiple product range helps in targeting a range of customer segments. The different prices of tablets charged here for different products actually reflects the prices of the products.
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.