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1. Nuclear power plants have redundant components in important systems to reduce the chance of catastrophic failure. Assume that a plant has two gauges to measure the level of coolant in the reactor core and that each gauge has probability 0.01 of failing. Assume that one potential cause of gauge failure is that the electric cables leading from the core to the control room where the gauges are located may burn up in a fire. Someone wishes to estimate the probability that both gauges fail and makes the following calculation:
P(both gauges fail) = P(first gauge fails) P(second gauge fails) = (0.01)(0.01) = 0.0001
a. What assumption is being made in this calculation?
b. Explain why this assumption is probably not justified in the present case.
c. Is the probability of 0.0001 likely to be too high or too low? Explain.
Discuss what Tinder company's market researches must have determined about the demand elasticity for their services for people above 30 relative to people below 30. Does this make sense to you?
Given production function Q= 100(L^0.5)(K^0.5), where L = labor hours per unit time, K=machine hours per unit time, and Q=output per unit time.
Explain the difference between internal and external stakeholders. How should a project manager prioritize the needs of each group of stakeholders?
These multiple choice problems belong to Economics. The first problem discusses about new firms entering competitive market structure and the second problem discusses about third degree price discrimination.
Objectives: To asses students' understand of the subject and to motivate them towards conceptual knowledge and practical application of the subject. InstructionsLate assignments will not be accepted.
Calculate the extra output due to the water project and calculate the annual output of the village if the water project would be installed in $s
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In an economic context, which of the following accurately explain the term "velocity?" Accurate descriptions of velocity. Not descriptive of velocity.
Develop a list of resources you might use to gather historical economic data as well as economic forecast data - Explain how and why each source is valuable and useful and identify any quantitative or qualitative forecasting factors contained in the ..
Outline a plan that managers in the low-calorie, frozen microwaveable food company could follow in anticipation of raising prices when selecting pricing strategies for making their products response to a change in price less elastic. Provide a rat..
Conduct a simple linear regression analysis to examine the relationship between 'education' (the independent variable) and 'wage' (the dependent variable). Using the Excel data file, prepare a 2000 word report.
Ajax Cleaning Products is a medium-sized firm operating in an industry dominated by one large firm Tile King. Ajax produces a multi-headed tunnel wall scrubber that is similar to a model produced by Tile King. Ajax decides to charge the same price..
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