Blog

Which cost–benefit comparison technique is MOST appropriate when project justification depends primarily on volume growth?

Nina works in research and development department of a large pharmaceutical lab. Nina’s team is working on finalizing a laboratory clinical trail that has been in progress for the last 7 days. Nina is coming near the end of a 12-hour long shift, and is feeling a bit fatigued. While working on the final stage of the trial, she mixes the wrong chemical compounds together, which unfortunately invalidates the entire experiment. Now her team will be forced to start the entire clinical trial over again, which means it will take at minimum an additional 7 days until the experiment can be completed.   This would be an example of which one of the following types of risk?

Sunrise Community Bank has recently approved a $450,000 mortgage loan to a first-time homebuyer, Daniel. Daniel is employed at a small accounting firm and has a good credit score / credit history. However, six months later, Daniel unexpectedly loses his job. Due to the lack of income, and not having much cash in his savings account, he has missed the last two month’s mortgage payments.  What type of risk does Daniel pose for Sunrise Community Bank?

What is quantum superposition?

Paper Palace owns two storage facilities. Both buildings store a variety of paper products (printer paper, paper towels, paper plates, etc.) The first storage facility (Storage Facility A) is located in Lakeland, FL; and is a modern facility constructed in 2022, built with a concrete base, steel framing, and fire-resistant materials (concrete block and metal) for all the walls and roof.  The second storage facility (Storage Facility B) is located in Orlando, FL; and is an older building constructed back in 1965, built entirely of untreated wood beams, plywood, and a wooden roof with asphalt shingles.   For the peril of fire, which warehouse poses more of hazard and why? 

Thirsty Co. is a company that manufacturers high end travel tumbler cups. One day, at Thirsty Co’s manufacturing plant, a critical piece of machinery used to mold the plastic of the tumbler cups catches fire; destroying the machine in the process. Thirsty Co. reaches out to the manufacturer of this critical piece of machinery, and asks for a new one to be delivered as soon as possible. Normally, these machines would take weeks to be delivered due to the size. However, Thirsty Co. agrees to pay expedited shipping charges of $10,000 to get the machine delivered as fast as possible. This results in the new machine being delivered in 3 days (as opposed to 3 weeks).  The underlined portion of the above scenario is an example of what? 

An insurance company is assessing the risk of the peril of employee bodily injury for several different types of occupancies.  If the peril is employee bodily injury, which occupancy would likely pose the highest hazard, and why? 

Make a probability distribution for the given set of events.When two balanced dice are rolled, 36 equally likely outcomes are possible as shown below. Let X denote the smaller of the two numbers. If both dice come up the same number, then X equals that common value. Find the probability distribution of X. Leave your probabilities in fraction form.

Find the indicated probability. Round your answer to 6 decimal places when necessary.A card is drawn at random from a well-shuffled deck of 52 cards. What is the probability of drawing a face card or a 5?

Solve the problem. Round your answer to 2 decimal places when necessary.A U.S. city with a population of 2.4 million reports 36,179 births in one year. How many people are born per day in the city?