There Are Three Companies That Produce a Critical Electronic Navigation

question 9

Multiple Choice

There are three companies that produce a critical electronic navigation component (ENC) used in the aerospace industry.These companies are Alice Manufacturing, Byte International, and Cognizant Technologies.Alice makes 85% of the ENCs, Byte makes 10%, and Cognizant makes the remaining 5%.The ENCs made by Alice have a 2.5% rate of defects, the ones made by Byte have a 4.0% rate of defects, and the ones made by Cognizant have a 6% rate of defects.If an ENC is randomly selected from the general population of ENCs, the probability that it was made by Alice is _______.If this ENC is later tested and found to be defective, the probability that it was made by Alice is _______.

• A)0.15; 0.85
• B)0.85; 0.85
• C)0.85; 0.77
• D)0.85; 0.76
• E)0.85; 0.75

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Definitions:

Maximin Strategies

Decision-making strategies aimed at maximizing the minimum payoff attainable, commonly used in games and economic scenarios where uncertainty is a significant factor.

Repetition of a Game

In game theory, it refers to playing the same strategic game multiple times, which can impact the strategies and outcomes over time.

Axelrod's Experiments

A series of computer tournaments designed by Robert Axelrod to examine strategies in the iterated prisoner's dilemma.

Prisoners' Dilemma Game

The Prisoners' Dilemma Game is a standard example of a game analyzed in game theory that shows why two rational individuals might not cooperate, even if it appears that it is in their best interest to do so.