Thanks to a Generous and Eccentric Donor, the School of Business

question 105

Multiple Choice

Thanks to a generous and eccentric donor, the school of business has 3 fax machines.The toner in each machine needs to be changed after about 5 hours of use.There is one unit secretary who is responsible for the fax machine maintenance.It takes him 15 minutes to replace the toner cartridge.What is the probability that one of the fax machines needs toner?

• A)0.22
• B)0.19
• C)0.16
• D)0.13

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Definitions:

Open-Economy Macroeconomic

The study of macroeconomic variables and policies in the context of an economy that interacts freely with other economies, focusing on issues like trade balances and exchange rates.

Real Interest Rates

The interest rate that has been adjusted for inflation, representing the true cost of borrowing and the true return on investment.

Currency Depreciate

The decrease in value of one currency in relation to another, often due to economic factors, leading to a reduction in the currency's purchasing power.

Foreign-Currency Exchange

The marketplace where currencies from different countries are traded, allowing for the conversion of one currency into another.