CADC Health Systems has a request for a medicinal compound to be produced in its

Question

CADC Health Systems has a request for a medicinal compound to be produced in its pharmacy for an ill patient. For the requested compound, 3 different chemicals are needed. Cost containment measures dictate that there is limited inventory available on site. To make the compound in a timely manner, all three chemicals must be in stock. One of the chemicals is in stock 98% of the time. The other two chemicals are each in stock 80% of the time. What is the probability that: a. All three of the chemicals are in stock? b. Exactly one of the chemicals is in stock? c. More than one of the chemicals is in stock? d. None of the chemicals are in stock?

Explanation / Answer

a) P = 0.98 * 0.8 * 0.8 = 0.6272 = 0.63

b) P = 0.98 * 0.2 * 0.2 + 0.8 * 0.02 * 0.2 + 0.8 * 0.02 * 0.2 = 0.0456 = 0.05

c) 0.63( all in stock ) + 0.98 * 0.8 * 0.2 + 0.98 * 0.2 * 0.8 + 0.02 * .8 * 0.8 = 0.9536 = 0.95

d) 0.02 * 0.2 * 0.2 = 0.0008

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