On a Pipeline, a Device Know Affectionately as a Pig

question 4

Essay

On a pipeline, a device know affectionately as a pig, checks the pipeline seams for leaks. The hundreds of thousands of seams along the 500 mile pipeline can be considered a steady stream of product. At any given moment, the pipeline managers estimate that 1% of the seams will need to be repaired. What is the probability that in the next sample of 25 seams, 2 or fewer of the seams will need repair?

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Definitions:

Substitutes In Production

Products that can be produced using the same resources or processes as another product, allowing producers to switch between them based on market demand or cost considerations.

Fixed Resources

Assets and inputs in the production process that cannot be easily increased or decreased in the short term, such as land and machinery.

Producer

An individual, company, or entity that creates goods or provides services to satisfy consumer demand.

Genetically Modified Seeds

Seeds that have been modified in the laboratory using genetic engineering techniques to possess certain desired traits, such as increased resistance to pests or herbicides.