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The power-take-off (PTO) connects an implement, such as a sprayer or mower, to a farm tractor and provides the driving force for the implement. One of the hazards of farming is possible entanglement in the PTO while the tractor is running. To prevent such accidents and the injuries that can result, implement manufacturers have provided tractors with a PTO shield to cover the PTO shaft and a specified pushpin to connect the PTO to the implement input driveline. Frequently during maintenance, the farmer must remove the PTO shield. During reassembly and preparation for use, the farmer replaces the shield only 88% of the time and uses the specified pushpin, rather than substituting an ordinary bolt, 97% of the time. For safe operation both the shield and the pushpin need to be in place. Fill in the following event- tree diagram with the probabilities of task success and failure (Task 1 = shield replacement; Task 2 = pushpin use), and calculate the probability that the farmer maintains the equipment in accordance with safety specifications. Assume that performance of Task i is independent of the performance of Task 2. a. (b) success What is the classification of the error that occurs at (a)? a. b. What is the classification of the error that occurs at (b)?

The power-take-off (PTO) connects an implement, such as a sprayer or mower, to a farm tractor and provides the driving force for the implement. One of the hazards of farming is possible entanglement in the PTO while the tractor is running. To prevent such accidents and the injuries that can result, implement manufacturers have provided tractors with a PTO shield to cover the PTO shaft and a specified pushpin to connect the PTO to the implement input driveline. Frequently during maintenance, the farmer must remove the PTO shield. During reassembly and preparation for use, the farmer replaces the shield only 88% of the time and uses the specified pushpin, rather than substituting an ordinary bolt, 97% of the time. For safe operation both the shield and the pushpin need to be in place. Fill in the following event- tree diagram with the probabilities of task success and failure (Task 1 = shield replacement; Task 2 = pushpin use), and calculate the probability that the farmer maintains the equipment in accordance with safety specifications. Assume that performance of Task i is independent of the performance of Task 2. a. (b) success What is the classification of the error that occurs at (a)? a. b. What is the classification of the error that occurs at (b)?

Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter20: The Problem Of Adverse Selection Moral Hazard
Section: Chapter Questions
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Case The power-take-off (PTO) connects an implement, such as a sprayer or mower, to a farm tractor and provides the driving force for the implement. One of the hazards of farming is possible entanglement in the PTO while the tractor is running. To prevent such accidents and the injuries that can result, implement manufacturers have provided tractors with a PTO shield to cover the PTO shaft and a specified pushpin to connect the PTO to the implement input driveline. Frequently during maintenance, the farmer must remove the PTO shield. During reassembly and preparation for use, the farmer replaces the shield only 88% of the time and uses the specified pushpin, rather than substituting an ordinary bolt, 97% of the time. For safe operation both the shield and the pushpin need to be in place. Fill in the following event- tree diagram with the probabilities of task success and failure (Task 1 = shield replacement; Task 2 = pushpin use), and calculate the probability that the farmer maintains the equipment in accordance with safety specifications. Assume that performance of Task 1 is independent of the performance of Task 2. a. (b) success a. What is the classification of the error that occurs at (a)? b. What is the classification of the error that occurs at (b)?
Transcribed Image Text:Case The power-take-off (PTO) connects an implement, such as a sprayer or mower, to a farm tractor and provides the driving force for the implement. One of the hazards of farming is possible entanglement in the PTO while the tractor is running. To prevent such accidents and the injuries that can result, implement manufacturers have provided tractors with a PTO shield to cover the PTO shaft and a specified pushpin to connect the PTO to the implement input driveline. Frequently during maintenance, the farmer must remove the PTO shield. During reassembly and preparation for use, the farmer replaces the shield only 88% of the time and uses the specified pushpin, rather than substituting an ordinary bolt, 97% of the time. For safe operation both the shield and the pushpin need to be in place. Fill in the following event- tree diagram with the probabilities of task success and failure (Task 1 = shield replacement; Task 2 = pushpin use), and calculate the probability that the farmer maintains the equipment in accordance with safety specifications. Assume that performance of Task 1 is independent of the performance of Task 2. a. (b) success a. What is the classification of the error that occurs at (a)? b. What is the classification of the error that occurs at (b)?
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