of the basic rules of probability: the sum of the probability that an event will happen and the probability that the event won’t happen is always 1. (In other words‚ the chance that anything might or might not happen is always 100%). If we can work out the probability that no two people will have the same birthday‚ we can use this rule to find the probability that two people will share a birthday: P(event happens) + P(event doesn’t happen) = 1 P(two people share birthday) + P(no two people share
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the 1990s and 2000s‚ logistics costs as a percentage of gross national product declined. ANSWER: True‚ Page 47 4. An aircraft manufacturer is a good example of an organization with a heavy inbound flow and a simple outbound flow. ANSWER: True‚ Page 63 5. Acme Battery distributes its batteries to warehouses‚ where they are stored until ordered by a retailer. The warehouses are located close by the retail markets served. This is the logistics channel approach to logistics. ANSWER: True‚ Page
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13 4. Introduction to Probability ....................................................................... 15 5. Unions‚ Intersections‚ and Complements ................................................ 23 6. Conditional Probability & Independent Events..................................... 28 7. Discrete Random Variables....................................................................... 33 8. Binomial Random Variable ...................................................................... 37
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million per week. “Pete’s price to its retail customers is $2.50 per can which would allow a gross margin of $1.25 per can. Pete’s cost to produce each can is $0.85 inventory carrying costs per can are $0.10 per can.”(Supply Chain Management: A Logistics Perspective‚ P.74‚ Case 2.2‚ Pete’s) How will the company maintain its products freshness‚ advertise properly‚ keep up the supply‚ and still make profit? The highest demand for snacks including peanuts is during sports games‚ which includes the National
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weights. Then 6 1 ‚...‚m(ω6 ) = 21 . (Check for yourself that this choice of values of m(ωi ) satisfies m(ω1 ) = 21 the three conditions above!) Therefore‚ P (Even) = P ({2‚ 4‚ 6} = 2 21 + 4 21 + 6 21 = 12 21 = 4 7 = 0.57. 7. Let A and B be events such that P (A ∩ B) = 14 ‚ P (Ac ) = 13 ‚ and P (B = 12 . What is P (A ∪ B)? Recall Theorem 4 from class: P (A ∪ B) = P (A) + P (B) − P (A ∩ B). We already know that P (B) = 12 and P (A ∩ B) = 14 ‚ so we just need to find P (A). By Theorem 1 part
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shift requires 6 operators‚ 2 maintenance persons‚ and 1 supervisor‚ in how many different ways can it be staffed? [8 points] 18 10 4 18564 45 4 3‚341‚520 6 2 1 (b) Suppose A and B are not mutually exclusive events‚ and we have P(A)=0.35‚ P(B)=0.40‚ P(AB)=0.18. Compute the following probabilities: i) P (AB)=? [4 points] P (AB)=P[A]+P[B]-P[AB]=0.35+0.40-0.18=0.57 ii) P(AB)=? P[A B] P[ A B] 0.18 0.45 P[ B] 0.40 1 of 6 [4 points] Name: Problem
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input the probabilities of 0.4‚ 0.4 and 0.2 for “good”‚ “moderate” and “poor” market reception. We then proceed to develop the marginal‚ conditional‚ and joint probabilities for each terminal end-point. The formula for the conditional probability of events A and B is changed as: P(A ∩ B) = P(B) P(A | B) By developing the likely revenue of market response outcome and summing the results‚ we obtain the expected
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projects Quizzing events Guest Lectures AXIOM‚ XLRI IN ASSOCIATION WITH SCNext PRESENTS SCALE-2014 Our knowledge partner : SCNext • The next step in youth supply chain • A unique social network • Resources and opportunities to enhance and share Supply Chain knowledge • Honing leadership skills • Events around the world • Webinars from professionals • Forums for discussion • Case competitions AXIOM‚ XLRI IN ASSOCIATION WITH SCNext PRESENTS SCALE-2014 SCALE: Supply Chain And Logistics Exposium- 2014
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IVIANAGING SUPPLY CHAINS A LOGISTICS APPROACH WITH Sf UDENT 6 b C. John Langley‚ Jr. Georgia Institute of Technology John J. Coyle The Pennsylvania State University Brian J. Gibson Auburn University Robert A. Novack The Pennsylvania State University Edward J. Bardi The University of Toledo SOUTH-WESTERN fe CENGAGE LearningAustralia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States Contents Preface xxi About the Authors xxv Parti
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PROBABILITY QUESTIONS Q1). You draw a card at random from a standard deck of 52 cards. Neither you nor anyone else looked at the card you picked. You keep it face down. Your friend then picks a card at random from a remaining 51 cards. a) What is the probability that your card is ace of spades? 1/52 b) What is the probability that your friend’s card is ace of spades? (Hint: Construct the sample space for what your friend’s card can be.) 1/51 c) You turn over your card and it is 10 of
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