Use Mathematical Induction to Prove That the Statement Is True $$\left( 1 - \frac { 1 } { 2 } \right) \left( 1 - \frac { 1 } { 3 } \right) \cdots \left( 1 - \frac { 1 } { n + 1 } \right) = \frac { 1 } { n + 1 }$$

question 116

Essay

Use mathematical induction to prove that the statement is true for every positive integer n.
- $$\left( 1 - \frac { 1 } { 2 } \right) \left( 1 - \frac { 1 } { 3 } \right) \cdots \left( 1 - \frac { 1 } { n + 1 } \right) = \frac { 1 } { n + 1 }$$

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Definitions:

Direct Labor-Hour

A measure of the amount of time spent by direct labor workers on a specific job or task, often used to allocate labor costs in job-order costing.

Manufacturing Overhead Budget

A financial plan that estimates the indirect costs associated with manufacturing, including utilities, salaries, and maintenance.

Direct Labor-Hour

A measure of the labor directly involved in manufacturing or service provision, calculated in hours.

Variable Overhead Rate

A rate that fluctuates with changes in production levels or business activity, applied to allocate variable overhead costs to products or services.