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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 valve is left as it is, the probability of a failure of the valve seats, over the life of the project, is 60%; the probability of failure of the valve stem is 50%; and 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 stem 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 stem 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 stem is $20,000; the present worth of cost 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?
Each of the players chooses an (integer) amount between $180 and $300. Both players receive the lower amount. Five dollars are transferred from the player who chose the larger amount to the player who chose the smaller one. Find the Nash equilibria f..
Consider an economy described by the following equations: Y= C+I+G, Y= 5,000, G= 1,000, T= 1,000, C= 250 + 0.75(Y-T), I= 1,000 -50r. In this economy, compute private saving, public saving, and national saving.
Which statement about institutionalization in organizations is most accurate? What was found in research on the effectiveness of self-managed teams? Which process is most likely to occur in an after-activity review? Members are most likely to experie..
q.jake takes 40 minutes to fry a chicken and 2 minutes to toast a slice of bread. his brother elwood takes 20 minutes
Suppose there are n identical firms in a market. Each firm’s cost function is given by C = 25 + q2, where q is the amount that an individual firm produces. How much output will each of them produce? What will be the market price? How many firms will ..
A firm in a purely competitive industry is currently producing 1,000 units per day at a total cost of $500. If the firm produced 800 units per day, its total cost would be $350, and if it produced 500 units per day, its total cost would be $325. What..
Given the solution to problem 14, what is the Nash Equilibrium of this game?
Are salsas and chips complementary or substitute goods.
Felix Jones, a recent engineering graduate, expects a starting salary of $65,000 per year. His future employer has averaged 5% per year in salary increases for the last several years. If inflation is estimated to be 4% per year for the next 3 years, ..
Illustrate what factor stores have in common behind their decline. Elucidate how would you conclude which were important also which were not.
What is the difference between GDP and National income? How do both (GDP & National income) relate to economic growth? Explain.
Suppose a recent and widely circulated medical article reports new benefits of exercise. Simultaneously, the price of the parts needed to make bikes falls. What is the likely effect on the equilibrium price and quantity of exercise bikes sold?
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