Risk is indicated by variability, whether the variability is considered positive or negative. Both the positive and negative outcomes must be evaluated when considering risk.?

Answer the following statement true (T) or false (F)


True

The chance that an outcome other than the expected one will occur is known as risk. See 8-1: Defining and Measuring Risks

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Content pages usually benefit from illustrations

a. true b. false

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Jack's Refrigeration Repair is under contract to repair, recondition, and/or refurbish commercial and industrial icemakers from restaurants, seafood processors, and similar organizations

Jack currently has five jobs to be scheduled, shown in the order in which they arrived. Job Processing Time (hours) Due (hours) V 20 50 W 10 35 X 50 90 Y 15 35 Z 55 75 (a) Complete the following table. (Show your supporting calculations below). (b) Which dispatching rule has the best score for flow time? (c) Which dispatching rule has the best score for work-in-process (jobs in the system)? (d) Which dispatching rule has the best score for lateness? Dispatching Rule Job Sequence Average Flow Time Average Number of Jobs Average Lateness FCFS SPT EDD CR

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Shicara owns a jewelry store. In exchange for a discount on her burglary insurance premium, she promises the insurer that her trained guard dog will be on the premises at all times, even when the store is closed

One evening she takes the dog home with her instead of leaving him at the store, and a burglar breaks in and steals everything. The insurance company finds out the dog wasn't in the store when the burglary happened, and denies the claim. WHY does the insurer do this? A) Because Shicara committed a material misrepresentation B) Because Shicara breached a warranty C) Because Shicara committed a concealment D) Because Shicara violated the principle of adhesion

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Who said that with the use of machines, "The saving of labour of the individual should be the object, and the honest humanitarian consideration, and not greed, the motive. Replace greed by love and everything will come right."

a. John Lennon b. De Tocqueville c. Mohandas Gandhi d. Karl Marx e. Henry David Throeau

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