The service manager for a new appliances store reviewed sales records of the past 20 sales of new microwaves to determine the number of warranty repairs he will be called on to perform in the next 90 days. Corporate reports indicate that the probability any one of their new microwaves needs a warranty repair in the first 90 days is 0.05. The manager assumes that calls for warranty repair are independent of one another and is interested in predicting the number of warranty repairs he will be called on to perform in the next 90 days for this batch of 20 new microwaves sold.
What is the probability that at least one of the 20 new microwaves sold will require a warranty repair in the first 90 days?
What will be an ideal response?
1) = 0.6415You might also like to view...
Nick, a highly skilled technician, has been one of the most productive employees at Swank Inc. But after the company went through a downsizing effort, Nick has taken on many more responsibilities and is struggling to keep up. What is the most likely consequence of this situation?
A. Nick experiences role conflict because Swank Inc. asks him to transfer to a position overseas. B. Nick places the responsibility for maintaining positive relationships on his direct supervisor. C. Nick wonders how Swank Inc. will evaluate his performance, so he asks for a transfer. D. Nick experiences role conflict and becomes confused about what to do. E. Nick experiences role overload and becomes dissatisfied with his job.
How is book value per share interpreted for an investor who owns one share of a company's stock? Is book value equal to the amount this stockholder would receive if the company were sold or liquidated? Why or why not?
Which item below would most likely not favor buying (versus renting) a personal residence?
A) You expect inflation to increase. B) You expect an increase in income taxes. C) You expect mortgage rates to rise. D) You anticipate relocating frequently because of your job.
What is acceptance sampling?
What will be an ideal response?