Two hundred simulation runs were completed using the probability of a machine breakdown from the table below.
Question:
Two hundred simulation runs were completed using the probability of a machine breakdown from the table below. The average number of breakdowns from the simulation trials was 1.93 with a standard deviation of 0.20.
No. of breakdowns per week Probability Cumulative probability
0 .10 .10
1 .25 .35
2 .36 .71
3 .22 .93
4 .07 1.00
What is the probability of 2 or fewer breakdowns?
Financial Institutions Management A Risk Management Approach
ISBN: 978-0071051590
8th edition
Authors: Marcia Cornett, Patricia McGraw, Anthony Saunders