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Assume you are building a system (Aircraft, etc.) for a customer but using the best technology available. You cannot produce the reliability required. The customer requires reliability of .99 after the system (aircraft, etc.) has operated for 1000 hours. Your system (Aircraft, etc.) has a reliability of .80 after operating for 1000 hours. What can you do to meet the customers' required reliability?
The Town-Pump service station has performed an analysis of its customers and found that 85% pay on credit and the rest pay cash. We are interested in finding the probability distribution of the random variable, X.
Consider a Cobb-Douglas production function with three inputs, K is the capital(number of machines), L is labor (nuber of workers) and H is human capital (the number of college degrees among workers) The production fucntion isY=K1/3 L1/3 H1/3
As a natural experiment to estimate the effect of education on receivings, a researcher compares schooling and educational attainment of two groups of people.
Barry, a Texas Crude Company engineer who did not take Engineering Economy while studying at Tech, recommended that Texas Crude purchase a special tool to reduce the cost of pumping oil out of the bayous of St. Martin Parish. As a result of Barry'..
Bob and Bill are college students. They are trying to decide what to do over the next summer. Bob's father has suggested that they both come and work at his plastics manufacturing company where each will earn $3,600 over the summer.
Suppose a monopolist faces the following demand curve: P=596-6Q. Marginal cost of production is constant and equal to $20, and there are no fixed costs. What is the monopolist's profit maximizing level of output What price will the profit maximizin..
An economy has only two goods, whose prices and typical consumption quantities are as follows: Dec. 2010 Dec. 2011 Price Quantity Price Quantity Fruit (lbs) $1.00 100 $1.00 50 Nuts (lbs) $3.00 50 $4.00 25 a. Using December 2010 as the base period f..
You are buying a new car for $20,000. You put $2000 down and are financing the balance. You signed a contract for the loan for 4 years. Your loan has an interest rate of 8% interest (APR). You make monthly payments and the interest is compounded m..
The rent market price for a 1-bedroom condominium in NYC is $3,000. However, the government does not allow these prices to be charged and establishes a price ceiling. This means that the government sets the maximum rent that can be charged.
PRESTO Products, Inc, manufactures small electrical appliances and has recently introduced an innovative new dessert maker for frozen yogurt and tofu that has the clear potential to offset the weak pricing and and sluggish volume growth experience..
Mirk Labs is a British pharmaceutical company that currently enjoys a patent monopoly in Europe, Canada, and the United States on Zatab (pronounced zay-tab), an allergy medication. The global demand for Zatab is: Qd=15.0-0.2P
complete the short-run supply schedule for the firm and indicate the profit or loss incurred at each output *QS/SF= quantity supplied, single firm; *Pr. Or Loss= Profit or Loss; *QS/1500 F= quantity supplied, 1500 firms Price QS/SF Pr. Or Loss QS/..
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