Components that function independently
A machine has 9 identical components that function independently. The probability that a component will fail is 0.2. The machine will stop working if more than three components fail. Find the probability that the machine will be working?
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Determine a 4-year weighted moving average forecast for 2009, where weights are W1 = 0.1, W2 = 0.2, W3 = 0.2 and W4 = 0.5.
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