A Local Fraternity Is Deciding Between Three Different Refrigerators

question 49

Multiple Choice

A local fraternity is deciding between three different refrigerators. The refrigerators have a mean time between failure and mean time to repair as shown in the table. What refrigerator(s) will provide the greatest availability?

• A) Refrigerator A
• B) Refrigerator B
• C) Refrigerator C
• D) Refrigerator A and Refrigerator B
• E) Refrigerator A and Refrigerator C

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Definitions:

Net Investment

The total amount invested in buying new capital and replacing depreciated capital within a specific period.

Potential Output

The highest level of real GDP that can be sustained over the long term without increasing inflation, reflecting the maximum productive capacity of an economy.

Labor Force

The total number of people who are employed and unemployed but seeking work within an economy.

Price Level

The overall cost of goods and services expressed as an index, which helps to compare different periods' economic conditions.