1. Your firm has 3 different manufacturing lines that each produce the same type of widget. There is a 85 percent chance that each line is functional on any given day. Assuming a Bernoulli process what is the probability of all three manufacturing lines working on any given day?
2. The weekly incomes of shift foreman for a given industry follow a normal probability distribution. With a mean of $1,000 and a standard deviation of $100, what is the z-value for the income (called X) of a foreman who earns $1100 per week? For a foreman who earns $900 per week? In words, what do your results indicate?
3. The weekly incomes of shift foreman for a given industry follow a normal probability distribution. With a mean of $1,000 and a standard deviation of $100, what is the area under the curve between $840 and $1200? In words, what do your results indicate?