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A decision has been made to perform certain repairs on the outlet works of a small dam. For a particular 36-inch gate valve, there are three available alternatives:
A. Leave the valve as it is.
B. Repair the valve.
C. Replace the valve
If the vave is left as it is, the probability of a failure of the valve seats, over the life of the project, is 60%; the probabiity of failure of the valve stem is 50%; a,d of failure of the valve body is 40%. If the valve is repaired, the probability of a failure of the seats, over the life of the project, is 40%; of failure of the steam is 30%; and of failure of the body is 20%. If the valve is replaced, the probability of a failure of the seats, over the life of the project, is 30%; of failure of the steam is 20%; and of failure of the body is 10%. The present worth of cost of future repairs and service disruption of a failure of the seats is $10,000; the present worth of cost of a failure of the steam is $20,000; the present worth of a failure of the body is $30,000. The cost of repairing the valve now is $10,000; and of replacing it is $20,000. If the criterion is to minimize expected costs, which alternative is best?
Let commodity 1st be bottled water, measured in gallons. Commodity 2nd denotes plain tap water, also measured in gallons.
With lower values for gasoline than a couple of years before will Americans start spending again? If they do, what will they spend the savings on Vacations?
explain briefly what is happening in this economy before and beyond the equilibrium output level point "a". The equilibrium output is the level of output at which the 45-degree line intersects the planned expenditures line.
From a macroeconomic standpoint it would be most desirable to have a decrease in personal consumption expenditures/spending (aggregate spending by the household sector) A. when a recessionary gap exists. B. when an inflationary gap exists. C. durin..
Using the static classical AD/YP model, demonstrate the effect of each of the following changes.
Provide the key provisions of the tax cuts passed through Congress in spring 2003 and explain how would these tax cuts be represented by the aggregate expenditure model and the IS curve
Some people advocate government funding of college scholarships as a way of creating a more egalitarian society. Others argue that scolarships help only those who are able to go to college. Do your answers to the preceding questions shed light on ..
One might expect company in monopolistically competitive market to experience greater swings in price of their products over the business cycle than those in an oligopoly market.
In an effort to estimate the mean amount spent per customer for dinner at an Atlanta restaurant, data were collected for a sample of 42 customers. The data collected resulted in a sample mean of $29. Based upon past studies the population standard..
A "product" is best described as: A) A purely physical entity. B) An image in the mind of the consumer. C) A need satisfying offering of a firm. D) An intangible service. 2._____ means a product's ability to satisfy a customer's needs or requirements..
Elizabeth has $35,000 in an investment account, but she wants account to increase to $100,000 in ten years without making any additional contributions to the account.
Assume that the government of a nation rations the crude oil available to car owners each month which reduces the overall demand for petroleum. However, the nation continues to import oil from the world market.
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