Chapter 5: Problem 8
Find the value of each factorial. \(12 !\)
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Chapter 5: Problem 8
Find the value of each factorial. \(12 !\)
These are the key concepts you need to understand to accurately answer the question.
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For a parallel structure of identical components, the system can succeed if at least one of the components succeeds. Assume that components fail independently of each other and that each component has a 0.15 probability of failure. (a) Would it be unusual to observe one component fail? Two components? (b) What is the probability that a parallel structure with 2 identical components will succeed? (c) How many components would be needed in the structure so that the probability the system will succeed is greater than \(0.9999 ?\)
According to the U.S. National Center for Health Statistics, \(0.15 \%\) of deaths in the United States are 25 - to 34-year-olds whose cause of death is cancer. In addition, \(1.71 \%\) of all those who die are \(25-34\) years old. What is the probability that a randomly selected death is the result of cancer if the individual is known to have been \(25-34\) years old?
In finance, a derivative is a financial asset whose value is determined (derived) from a bundle of various assets, such as mortgages. Suppose a randomly selected mortgage has a probability of 0.01 of default. (a) What is the probability a randomly selected mortgage will not default (that is, pay off)? (b) What is the probability a bundle of five randomly selected mortgages will not default assuming the likelihood any one mortgage being paid off is independent of the others? Note: A derivative might be an investment in which all five mortgages do not default. (c) What is the probability the derivative becomes worthless? That is, at least one of the mortgages defaults? (d) In part (b), we made the assumption that the likelihood of default is independent. Do you believe this is a reasonable assumption? Explain.
Ken and Dorothy like to fly to Colorado for ski vacations. Sometimes, however, they are late for their flight. On the air carrier they prefer to fly, the probability that luggage gets lost is 0.012 for luggage checked at least one hour prior to departure. However, the probability luggage gets lost is 0.043 for luggage checked within one hour of departure. Are the events "luggage check time" and "lost luggage" independent? Explain.
(See Example 10.) How many distinguishable DNA sequences can be formed using three As, two Cs, two Gs, and three Ts?
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