Consider a chainsaw that fails five times in 100 hours of operation. The failure rate of the chainsaw is ______.
a. 0.050
b. 0.034
c. 0.022
d. 0.031
a. 0.050
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A company purchased 200 units for $30 each on January 31. It purchased 220 units for $33 each on February 28. It sold a total of 350 units for $45 each from March 1 through December 31. What is the cost of ending inventory on December 31 if the company uses the first-in, first-out (FIFO) inventory costing method? (Assume that the company uses a perpetual inventory system.)
A) $2,310 B) $300 C) $2,100 D) $1,800
Gift giving across cultures is a simple kindness and need not be complicated with attempts to understand. The act of generosity says everything in and of itself.
Answer the following statement true (T) or false (F)
Which of the following is true of a traditional certificate of deposit (CD)?
A. Traditional CDs must be kept at the issuing institution for a specified time period. B. Traditional CDs pay no periodic interest. C. Traditional CDs are repaid in installments by the issuing bank. D. Traditional CDs have a floating rate of interest. E. Traditional CDs are discounted when their market price is more than issue price.
Doug Everett worked for Columbia Power as a consultant for businesses in reducing their power bills. Columbia terminated Doug and provided notice to all of his customers that Doug was no longer working with Columbia. A business that had heard about Doug from one of his former clients called Doug and asked him to help with reducing power bills of their offices and plants. Doug still had his materials from Columbia and negotiated a contract with the business for Columbia to provide certain equipment to the business and also for specific new rate plans for the business. Columbia did not know of the agreement and now refuses to honor it. Which of the following statements is correct?
a. Columbia is not liable on the contract with the business because Doug’s actual (express and implied authority) had terminated. b. Columbia is not liable because a former employee cannot negotiate contracts with customers after his termination. c. Columbia is liable on the contract because Columbia did not give general notice of termination. d. Doug is liable on the contract, but not Columbia.