Candidate
Six Candidates for a New Position of Vice-President for Academic

question 105

Short Answer

Candidate
Six candidates for a new position of vice-president for academic affairs have been selected.Three of the candidates are female.The candidates' years of experience are as follows: $$\begin{array} { | c | c | } \hline \text { Candidate } & \text { Experience } \\\hline \text { Female 1 } & 5 \\\text { Female 2 } & 9 \\\text { Female 3 } & 11 \\\text { Male 1 } & 6 \\\text { Male 2 } & 4 \\\text { Male 3 } & 8 \\\hline\end{array}$$ Suppose one of the candidates is selected at random.Define the following events:
A = person selected has 9 years experience.
B = person selected is a female.
-Find P(A).

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Definitions:

Economic Production Quantity

A model that determines the optimal quantity of a product to produce, minimizing total holding and setup costs.

Setup Time

The time required to prepare a machine or process for production.

Lot Size

It denotes the quantity of units produced or ordered in a single batch, influenced by considerations like cost and demand.

JIT Policies

Just-In-Time Policies; strategies aimed at minimizing inventory and reducing waste by receiving goods only as they are needed in the production process.