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Solved: PIN pad shipments. Personal identification number

Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich ISBN: 9780321826237 51

Solution for problem 18E Chapter 3

Statistics for Business and Economics | 12th Edition

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Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich

Statistics for Business and Economics | 12th Edition

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Problem 18E

Problem 18E

PIN pad shipments. Personal identification number (PIN) pads are devices that connect to point-of-sale electronic cash registers for debit and credit card purchases. Refer to The Nilson Report (Oct. 2008) listing of the volume of PIN pad shipments by manufacturers worldwide, Exercise 2.7 (p. 49). Recall that for the 12 manufacturers listed in the table, a total of 334,039 PIN pads were shipped. Suppose you randomly select one of these PIN pads and identify the manufacturer.

Manufacturer

Number Shipped (units)

Bitel

13,500

CyberNet

16,200

Fujian Landi

119,000

Glintt (ParaRede)

5,990

Intelligent

4,562

KwangWoo

42,000

Omron

20,000

Pax Tech.

10,072

ProvencoCadmus

20,000

SZZT Electronics

67,300

Toshiba TEC

12,415

Urmet

3,000

Source: Data from The Nilson Report, No. 912, October 2008 (p. 9).

a. Find the probability that the PIN pad is shipped by either Fujian Landi or SZZT Electronics.

b. Suppose that 1,000 of the PIN pads shipped were found to be defective. Find the probability that the PIN pad selected is one of the defectives.

Step-by-Step Solution:
Step 1 of 3

Solution

Step1 of 3:

      Given the 12 manufactures are listed in the given table.  

Manufacturer

Number Shipped (units)

Bitel

13,500

CyberNet

16,200

Fujian Landi

119,000

Glintt (ParaRede)

5,990

Intelligent

4,562

KwangWoo

42,000

Omron

20,000

Pax Tech.

10,072

ProvencoCadmus

20,000

SZZT Electronics

67,300

Toshiba TEC

12,415

Urmet

3,000


Step2 of 3:

a). We need to find the probability that the PIN pad is shipped by either Fujian Landi or SZZT Electronics.

Let us define events:

B = bitel

C = cybernet

G = glint(pava rede)

I = intelligent

K = K wang woo

O = Omron

PT = Pax Tech

PC = Provenco Cadmus

S = SZZT Electronics

T = Toshiba TEC

U = Urmet

The related probabilities are given below table:

Manufacturer

Number Shipped (units)

Probability

Bitel

13,500

0.041

CyberNet

16,200

0.049

Fujian Landi

119,000

0.357

Glintt (ParaRede)

5,990

0.018

Intelligent

4,562

0.014

KwangWoo

42,000

0.126

Omron

20,000

0.06

Pax Tech.

10,072

0.031

ProvencoCadmus

20,000

0.06

SZZT Electronics

67,300

0.202

Toshiba TEC

12,415

0.038

Urmet

3,000

0.009

Total

334,039

Where,

Probability column is calculated by using the following method:

P(B) =

       = 0.041

And,

P(C) =

        = 0.049

And so on.

Now,

The probability that the PIN pad is shipped by either Fujian Landi or SZZT Electronics is given by:

 

                   

Step 2 of 3

Chapter 3, Problem 18E is Solved
Step 3 of 3

Textbook: Statistics for Business and Economics
Edition: 12
Author: James T. McClave, P. George Benson, Terry T Sincich
ISBN: 9780321826237

The full step-by-step solution to problem: 18E from chapter: 3 was answered by , our top Business solution expert on 07/21/17, 05:42AM. This textbook survival guide was created for the textbook: Statistics for Business and Economics , edition: 12. The answer to “PIN pad shipments. Personal identification number (PIN) pads are devices that connect to point-of-sale electronic cash registers for debit and credit card purchases. Refer to The Nilson Report (Oct. 2008) listing of the volume of PIN pad shipments by manufacturers worldwide, Exercise 2.7 (p. 49). Recall that for the 12 manufacturers listed in the table, a total of 334,039 PIN pads were shipped. Suppose you randomly select one of these PIN pads and identify the manufacturer.ManufacturerNumber Shipped (units)Bitel13,500CyberNet16,200Fujian Landi119,000Glintt (ParaRede)5,990Intelligent4,562KwangWoo42,000Omron20,000Pax Tech.10,072ProvencoCadmus20,000SZZT Electronics67,300Toshiba TEC12,415Urmet3,000Source: Data from The Nilson Report, No. 912, October 2008 (p. 9).a. Find the probability that the PIN pad is shipped by either Fujian Landi or SZZT Electronics.b. Suppose that 1,000 of the PIN pads shipped were found to be defective. Find the probability that the PIN pad selected is one of the defectives.” is broken down into a number of easy to follow steps, and 136 words. Statistics for Business and Economics was written by and is associated to the ISBN: 9780321826237. Since the solution to 18E from 3 chapter was answered, more than 509 students have viewed the full step-by-step answer. This full solution covers the following key subjects: pin, pads, PAD, shipped, electronics. This expansive textbook survival guide covers 15 chapters, and 1631 solutions.

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Solved: PIN pad shipments. Personal identification number