RES 341 Week 4 Chapter 5 E Exercises 5.62 and 5.70

Chapter 5 E Exercises 5.62 and 5.70

5.62 A certain airplane has two independent alternators to provide electrical power. The probability that a given alternator will fail on a 1-hour flight is .02. What is the probability that (a) both will fail? (b) Neither will fail? (c) One or the other will fail? Show all steps carefully.

5.70 The probability is 1 in 4,000,000 that a single auto trip in the United States will result in a fatality. Over a lifetime, an average U.S. driver takes 50,000 trips. (a) What is the probability of a fatal accident over a lifetime? Explain your reasoning carefully. Hint: Assume independent events. Why might the assumption of independence be violated? (b) Why might a driver be tempted not to use a seat belt “just on this trip”?

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Case Study – ‘7-Eleven: A Way of Life’

7-Eleven outlets by night

7-ELEVEN Inc. of Dallas, Texas, operates the 7-ELEVEN convenience -store chain in twenty-six states, the District of Columbia, and five provinces of Canada. 7-ELEVEN Inc. is the largest operator and franchiser of convenience stores in the world. There are over 7,200 7-ELEVE stores in operation throughout the United States, serving over 8 million customers every day. A typical 7-ELEVEN store carries over 3,000 items, including soft drinks, groceries, beer, tobacco, magazines, housewares, and health and beauty aids. Other items, particularly fast foods, are regularly being added to the product offerings.

7-ELEVEN Inc., then known as Southland pioneered the convenience store concept in 1927, when it opened as an ice company that also sold milk, bread, and eggs as a convenience to its customers. The name “7-ELEvEN” originated in 1946, when the stores operated between the hours of 7 A.M. and 11 P.M. Today the vast majority of 7-ELEVEN stores are open twenty-four hours.

There are basically two operational types of 7-ELEVEN stores. The neighborhood type is operated as an updated version of the mom-and-pop store. Forty percent of the stores are operated by franchisees, with the remainder being managed by the corporation. Of the franchised locations, many are owned and operated by couples whose families also work in the store. The typical 7-ELEVEN store is in a suburban location with easy access. However, 7-ELEVEN also operates “city stores” in some densely populated urban areas. The store’s competition is broad-based, including fast-food restaurants, other convenience stores, supermarkets, and “g-stores” (gasoline stations with a small convenience store on the premises).