Business, 11.03.2020 04:42 NotYourStudent

A manufacturing process produces integrated circuit chips. Over the long run, the fraction of bad chips produced by the process is 20%. Thoroughly testing a chip to determine whether it is good or bad is rather expensive, so a cheaper test is used. All good chips will past the test, but so will 7.5% of the bad chips. (a) Given that a chip passes the test, what is the probability that it is a good chip? Use at least 3 decimal places. (b) If the company sells all chips that pass the cheaper test, what percentage of sold chips will be bad? Use at least 3 decimal places.

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A manufacturing process produces integrated circuit chips. Over the long run, the fraction of bad ch...

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