Question: 1 . In a manufacturing facility, materials are received by truck on Mondays. If materials stock out then special trips must be scheduled and these

1. In a manufacturing facility, materials are received by truck on Mondays. If materials stock out then special trips must be scheduled and these special trips are very costly. We want to determine the likelihood of having to make a special trip for material for an assembly that has 6 components and each component in the assembly has the same probability p of not stocking out during the week.
a. To create an assembly, all six items must be in stock. What is the smallest that p can be for the components in this assembly so that the probability of having no stockouts for any of the six components during a delivery week (and thus, you can make an assembly) is less than 1%?
If each of the 6 components in the assembly has a likelihood of stocking out during a delivery week of 1.5%(so p =.015), what is the likelihood that 2 or more components stock out during the same week?

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