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1. Among the cast aluminum parts manufactured on a certain day, 80% were flawless, 15% had only minor flaws, and 5% had major flaws. Find the probability that a randomly chosen part
a. has a flaw (major or minor).
b. has no major flaw.
2. In a certain type of automobile engine, the cylinder head is fastened to the block by 10 bolts, each of which should be torqued to 60 N·m. Assume that the torques of the bolts are independent. If each bolt is torqued correctly with probability 0.99, what is the probability that all the bolts on a cylinder head are torqued correctly?
Explain the concept of culture. Why is it important to avoid ethno-centricity and gain cultural literacy? In an international business context, what strategies would you apply to achieve your stated goals?
Where Y is real GDP, Ap is the amount of autonomous planned spending that is independent of the interest rate, Ms is the nominal supply, P is the price level, and W is the nominal wage rate. Assume that Ap equals 5,000, Ms equals 2,000, W equal..
Money is still useful during times of inflation because, the opportunity cost of holding a dollar is, The money supply is
How many units of phosphorus will these two firms emit if the phosphorus emissions are left unregulated? What is the socially optimal level of phosphorus emissions in the river?
an entrepreneur is considering opening a coffee shop in downtown cookeville. the building that he is considering will
Firm Z is developing a new product. An early introduction (beating rivals to market) would greatly enhance the company's revenues. However, the intensive development effort needed to expedite the introduction can be very expensive.
Q=aK+bL, where a and b are the coefficients of capital and labour respectively. Q refers to output, K refers to capital and L refers to labour. show that the marginal rate of substitution between capital and labour is MRTSKL=b/a
The consequences of decriminalizing illegal drugs have long been debated. Some claim that legalization will lower the price of these drugs and reduce related crime. Others claim that more people will use these drugs.
Some states have had laws restricting the sale of most goods on Sunday.oppose such laws because they find Sunday afternoon a convenient time to shop.
The Federal Reserve issued the Federal Open Market Committee (FOMC) statement after its meeting. This information is highly anticipated because it clarifies the stance of monetary policy in the future.
On their way to their chosen resturant, they see that the Mexican and French resturants are closed, so they use a Borda count again to decide between the remaining two restaurants. Where do they decide to go now?
Scarcity shapes decisions about how to distribute goods. Because resources are scarce consumers buy fewer good.
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