Probability Fundamentals - Briliant Course
- 80% of the rail shipment and 40% of highway shipment are on time
- The CEO of the company gets an offer for a new deal:
- 60% of highway and rail 100% on time
- The options are:
- Just with this information is not enough to tell if the company will deliver on time. You also need to know how often the shipper uses trucks versus trains.
- Greem Grocers: 20% by truck (40% on time), 80% by train (80% on time)
- What is the probability Green Grocer's delivery is on schedule?
- 0.2 x 0.4 + 0.8 x 0.8 = 0.72
- ACME sends 80% by trucks (60% on time) and 20% by train (100% on time)
- What is the probability Green Grocer's delivery is on schedule?
- 0.8 x 0.6 + 0.2 x 1 = 0.68
- Green Grocer is the company has a higher chance of delivering the shipment on time.
