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A crew of mechanics at the Highway Department garage repair vehicles that break down at an average of λ = 8 vehicles per day (approximately Poisson in nature). The mechanic crew can service an average of μ= 11 vehicles per day with a repair time distribution that approximates an exponential distribution. The crew cost is approximately $300 per day. The cost associated with lost productivity from the breakdown is estimated at $150 per vehicle per day (or any fraction thereof). a) Calculate the total cost of the existing system with one service crew. b) Calculate the total cost of a revised system with two service crews.
4-10calc A U.S. auto maker plans to build two more plants in China as it aims to harness continued growth in Asia. The company estimates that it must make annual investments of $40 thousand over a 15-year period. How much would the company have to in..
US and Canada can both grow wheat and can do mining. Use the following table to look for which country has a comparative advantage in mining. (Hint: Find the cost of mining in terms of wheat in each country.)
If David's only illness this year results in an appendectomy, explain how many days will he choose to stay in the hospital.
Elucidate the effect this policy would have on the nation's real risk-free interest rate, nominal interest rates, real and nominal GDP.
question 1 at the national level public debate has centred on the performance of the main monetary measure - gdp. each
We use a number of contemporary technologies to enhance services that we provide for our customers. One such technology known as ____________ allows us to observationally track products and services in transport.
The initial cost of a pickup truck is $11289 and will have a salvage value of $3730 after five years. Maintenance is estimated to be a uniform gradient amount of $133 per year, with zero dollar for first year maintenance. The operation cost is estima..
Explain how should the United States Supreme Court interpret the United States Constitution.
Since the movie, Avatar, 3-D movies have been popular and charged at a higher price, compared with the traditional 2-D movies. Please analyze the impact of 3-D movies on The price elasticity of demand on 2-D movies? The total revenue of movie theater..
If the market of a certain product experiences a decrease in supply and an increase in demand, which of the following results is expected to occur?
What should be the production level if the producer operates in a monopolistic competitive market where the price of software at each possible quantity is also listed above?
You decide to open an individual retirement account (IRA) at your local bank that pays 7%/year/year. At the end of each of the next 40 years, you will deposit $7,500 per year into the account (40 total deposits). 3 years after the last deposit, you w..
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