To Make The Right Decision

A scientist has to make a decision on each f the two independent events I and II. Suppose the probability of error in making decision on event I is 0.02 and that on event II is 0.05 . Find the probability that he scientist will make the correct decision on ( i) both events ( ii) only one event

Financing Decision

Panorma Ltd. Is a company selling LED television sets. Shivek, a manager of the company, makes certain decisions in the nature of manufacturing of buying decisions, should the company make or buy its requirements of packages, priniting of labels, selection of vendors for procuring supplies ? Identify and explain the type of plan highlighted above.