A Specific Automotive Part That a Service Station Stocks in Its

question 20

Essay

A specific automotive part that a service station stocks in its inventory has an 8%
chance of being defective. Suppose many cars come into the service station needing this
part each week.
A. What is the probability that the fourth part retrieved from stock is the first defective?
b. What is the probability that the tenth part retrieved from stock is defective?
c. What is the expected number of parts retrieved until the first defective part?

---

Definitions:

Liabilities

A debt owed by a business to another organization or individual.

Assets

Resources owned by a business or individual that have economic value and can provide future benefits.

Venture Capitalist

An investor who provides capital to startup ventures or supports small companies that wish to expand but do not have access to equities markets.

Emerging Businesses

Companies in the early stages of operation, often characterized by rapid growth and development in its sector.