What is the probability that a randomly-selected light bulb burns out in less than 1,500 hours?
What will be an ideal response?
P(X < 1500 ) = (1500 - 1200 )/(1600 – 1200 ) = 300/400 = 0.75
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Marketing plans need to be highly formalized to be successful
Indicate whether the statement is true or false
Which of the following might an auditor do in testing for the existence of accounts payable?
a. Review client's financial statement disclosure. b. Review long-term purchase commitments. c. Perform a cutoff test of purchases and cash disbursements. d. Perform analytical review of related expense accounts.
ABS specializes in repair and maintenance of industrial machines. One repair technician has been assigned to five identical grinding machines for repair and maintenance. The machine breaks down after about 20 hours of use, and breakdowns have a Poisson probability distribution. It takes 6 hours to repair a machine, and repair times follow an exponential distribution. Machine downtime costs the company $250 an hour, and the technician is paid $50 an hour. Determine the average cost per hour of downtime if number of technicians is equal to two.
a. $234 b. $432 c. $320 d. $345
A mayor serving in a major metropolitan area receives an internal memorandum indicating personnel at many police stations are single-race. At the time of the report, thirty percent of the police force was black or Hispanic. She immediately calls a press conference and orders transfer of police officers to achieve racial balance across the city. The transferred police offers sue on constitutional
grounds. Assuming just these facts, what is the strongest argument that might be advanced by the transferred officers based on constitutional grounds? a. Executive action by the mayor is unconstitutional because there was no rational relationship to a valid governmental purpose. b. The action is "void for vagueness" since transferred police officers must unnecessarily guess at the underlying public policy of the transfer process. c. The mayor's policy used race as the basis for transfers, and assignments are subject to strict scrutiny. d. The transfer can be set aside based on intermediate or heightened level of scrutiny.