Suppose That the Manager of a Company Has Estimated the Probability

question 44

Multiple Choice

Suppose that the manager of a company has estimated the probability of a super-event sometime during the next five years that will disrupt all suppliers as 0.23%. In addition, the firm currently uses three suppliers for its main component, and the manager estimates the probability of a unique-event that would disrupt one of them sometime during the next five years to be 1.1%. What is the probability that all three suppliers will be disrupted at the same time at some point during the next five years?

• A) 4.4203%
• B) 0.2301%
• C) 4.4300%
• D) 0.2297%
• E) 0.2303%

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Definitions:

Confrontation

A face-to-face meeting or conflict between individuals or groups, often involving a direct challenge or dispute.

Workload

The amount of work assigned to or expected from a person within a specified time period.

Negotiator

A person skilled in conducting discussions between parties with the aim of reaching an agreement or resolving a conflict.

Win-lose Strategy

A competitive approach where one party's gain is directly correlated with another's loss.