Which of the following statements best captures the intuitive reason behind discounting?
A) Since investments yield a return, we have to give up less than $1 today to obtain $1 in
future benefits. Hence we place less weight on future benefits and costs than we would on
benefits and costs that dollars occur today.
B) Since dollars today can be invested, yielding a positive return, discounting places more
weight on future returns.
C) Since dollars today can be invested, to obtain $1 in the future we have to give up less than
$1 today. Hence future benefits and costs are given more weight than benefits and costs
today.
D) Since incomes rise over time, discounting means that we place less weight on benefits and
costs today and more weight on benefits in the future.
A) Since investments yield a return, we have to give up less than $1 today to obtain $1 in
future benefits. Hence we place less weight on future benefits and costs than we would on
benefits and costs that dollars occur today.
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The ring gear in a Ford transmission serves as an input member.
Answer the following statement true (T) or false (F)
The populations of which of the following animals are often managed through hunting?
a. Dove c. Turkey b. Pheasant d. All answers are correct.
A system consists of two subsystems connected in series, as shown in the following schematic illustration. Each subsystem consists of two components connected in parallel. The AB subsystem fails when both A and B have failed. The CD subsystem fails when both C and D have failed. The system fails as soon as one of the two subsystems fails. Assume that the lifetimes of the components, in months, have the following distributions: A: Exp(l), B: Exp(0.1), C: Exp(0.2), D: Exp(0.2).
a. Generate, by simulation, a large number (at least 1000) of system lifetimes.
b. Estimate the mean system lifetime.
c. Estimate the median system lifetime.
d. Estimate the probability that the system functions for more than 6 months.
e. Estimate the 90th percentile of system lifetimes.
f. Estimate the probability that the AB subsystem fails before the CD subsystem does.
Common types of errors of circularity include ovality, irregularity, and ____________________.
Fill in the blank(s) with the appropriate word(s).