(a) A good example of a simple random walk with two reflecting barriers is the movement of an elevator in a 10 storey building. Once the elevator reaches the ground floor, it will have a 100% probability of going up, and when it reaches the 10th floor, it will have a 100% probability of going down. The elevator goes up and down at discrete intervals. Reflection at the barriers is represents the points when the elevator is at the ground and the 10th floors.
(b) (i) 1.
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(“Probability Math Problem Example | Topics and Well Written Essays - 750 words”, n.d.)
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(Probability Math Problem Example | Topics and Well Written Essays - 750 Words)
“Probability Math Problem Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.net/science/300373-probability.
From the research it is clear that probabilistic risk analysis (PRA) or quantitative risk analysis (QRA) or probabilistic safety analysis (PSA) is one of the most used methods of analysing risk in project development and operation. The use of this technique supports and validates the improvement of control and mitigation measures against threats.
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In the event that it goes beyond that, the unit may be considered too expensive. Furthermore, if manufacturers discover that customers are not willing to pay for air conditioning units beyond 449, then they may be compelled to produce units that do not go beyond an 11.0 EER to limit costs.
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The data satisfies the assumption of independence.
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