The Diameters of Ball Bearings Produced in a Manufacturing Process

question 257

Multiple Choice

The diameters of ball bearings produced in a manufacturing process can be described using a uniform distribution over the interval 2.5 to 4.5 millimeters. What is the mean diameter of ball bearings produced in this manufacturing process?

• A) 4.5 millimeters
• B) 3.0 millimeters
• C) 4.0 millimeters
• D) 3.5 millimeters

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Definitions:

Initial Plant Sizes

The original capacity or scale of a facility when it first begins operations.

Purely Competitive

Characterizes a theoretical market structure emphasizing perfect competition, where numerous small firms face no barriers to entering or exiting the market.

Long Run

A period in which all inputs, including capital, are variable, allowing firms to adjust all factors of production.

Underallocation Of Resources

A situation where resources are not optimally distributed, often leading to inefficiencies and missed opportunities in the market.