Sample Test 2

Sample Test 2 - George Mason University School of...

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George Mason University School of Management OM 210: STATISTICAL ANALYSIS FOR MANAGEMENT Prof. Harvey Singer TEST #2: Random Variables and Probability Distributions (SAMPLE) Directions: Read each problem carefully and answer exactly what is asked. Complete all problems and all parts in order. Show all work. State all results to problems in complete sentences. Be careful to define all symbols, and check your work for units (like dollar signs) and arithmetic. Explicitly state all assumptions that were made and all rules that were used. Sign the honor code statement on page 2 and return this sheet with completed exam. Staple all pages to be submitted in their correct order. 1. A factory manager is considering the feasibility of replacing a particular machine which is prone to breakdowns. Repair records indicate the following probability distribution for the number of breakdowns of this machine per week: number of breakdowns 0 1 2 3 4 5 proportion 0.12 0.16 0.18 0.32 0.14 0.08 a. On average, how many breakdowns of this machine can be expected per week? What is the standard deviation of breakdowns per week? b. What is the chance that there will be no more than one breakdown per week? c. What is the chance that there will be at most three breakdowns per week. d. It is estimated that each breakdown costs the company $1,500 in lost output. What is the expected value and the range in weekly costs to the company from the breakdowns of this machine? 2. Thirty percent of the jobs received by a machine shop require welding; the balance of the jobs are straight machining jobs. a.
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This note was uploaded on 02/19/2011 for the course OM 210 taught by Professor Singer during the Spring '08 term at George Mason.

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Sample Test 2 - George Mason University School of...

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