For each situation below, determine (1) if the variable(s) is(are) discrete or continuous, and (2) if the information involves certainty, risk, and/or uncertainty.
(a) A friend in real estate tells you the price per square foot for new houses will go up slowly or rapidly during the next 6 months.
(b) Your manager informs the staff that there is an equal chance that sales will be between 50 and 55 units next month.
(c) Jane got paid yesterday and $800 was taken out in income taxes. The amount withheld next month will be larger because of a pay raise between 3% and 5%.
(d) There is a 20% chance of rain and a 30% chance of snow today.
(e) The first cost of a new front-end loader is $34,000 or $38,000 depending on the size purchased.
(a) Continuous (assumed) and uncertain
(b) Discrete with risk
(c) Two variables: first is discrete and certain at $800; second is continuous for ? $800, but uncertain (at this point)
(d) Discrete with risk
(e) Discrete and certain
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As a result of the panic of 1837
A. the U. S. established restrictions on foreign loans. B. President John Tyler reversed his opposition to a national bank and signed legislation authorizing a "Fiscal Corporation." C. anti-British passions cooled in America. D. the Democrats led America into war for more territory. E. several states defaulted on their bonds or repudiated them openly.
The two large classes of metering devices are:
A) Fixed restrictions and thermostatic expansion valves. B) Fixed restrictions and broken restrictions. C) Floats and valves. D) Hand valves and automatic valves.
When the driver of a Civic Hybrid is maintaining a very low cruising speed, the cylinders in the engine are ____________________ and the motor powers the car by itself.
Fill in the blank(s) with the appropriate word(s).
Which of the following elements must be located or laid out before a development can actually be started?
A. true lengths B. true distances C. station lines D. both A and B