A Concise Intro To Logic
12th Edition
ISBN: 9781305147775
Author: Hurley
Publisher: Cengage
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Suppose on a road trip to Texas you observe that three out of every four trucks on the road are followed by a car, while only one out of every five cars is followed by a truck. What fraction of vehicles on the road are trucks?
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Solve the question below using the attached excel templates with formulas for renting both slow and fast copies (labeled in the excel tabs).
Question: The Decision Sciences Department is trying to determine whether to rent a slow or a fast copier. The department believes that an employee’s time is worth $15 per hour. The slow copier rents for $4 per hour, and it takes an employee an average of 10 minutes to complete copying. The fast copier rents for $15 per hour, and it takes an employee an average of six minutes to complete copying. On average, four employees per hour need to use the copying machine. (Assume the copying times and interarrival times to the copying machine are exponentially distributed.) Which machine should the department rent to minimize expected total cost per hour?
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