A Manufacturing Company Has 5 Identical Machines That Produce Nails

question 119

Short Answer

A manufacturing company has 5 identical machines that produce nails. The probability that a machine will break down on any given day is .1. Define a random variable X to be the number of machines that will break down in a day.
a.What is the appropriate probability distribution for X? Explain how X satisfies the properties of the distribution.
b.Compute the probability that 4 machines will break down.
c.Compute the probability that at least 4 machines will break down.
d.What is the expected number of machines that will break down in a day?
e.What is the variance of the number of machines that will break down in a day?

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Definitions:

Preferred Stock

A class of ownership in a corporation that has a higher claim on assets and earnings than common stock, often receiving dividends before common shareholders.

Voting Privileges

Rights granted to shareholders to vote on company decisions, often proportional to the number of shares owned.

Organization Expenses

Costs associated with starting and organizing a business or company, which may include legal fees, registration fees, and promotional expenses.

Legal Fees

The charges for services provided by lawyers or law firms, including consultations, representation in legal matters, and the preparation of legal documents.