Question: Suppose you have a final assembly that requires 8 components. The inventory level of each of the components is managed in such a way that

Suppose you have a final assembly that requires 8 components. The inventory level of each of the components is managed in such a way that there is a 98% chance that the component is in stock at any point in time. a. What is the likelihood that all 8 components are in stock so that you can make an assembly? b. What is the likelihood that 7 or more of the 8 components needed to make an assembly are in stock?

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