Use the Multiplication Rule for Independent Events
-A Machine Has $A , B , C$

question 10

Multiple Choice

Use the Multiplication Rule for Independent Events
-A machine has four components, $A , B , C$ , and D, set up in such a manner that all four parts must work for the machine to work properly. Assume the probability of one part working does not depend on the functionality of any of the other parts. Also assume that the probabilities of the individual parts working are $P ( A ) = P ( B ) = 0.94$ , $P ( C ) = 0.97$ , and $P ( D ) = 0.95$ . Find the probability that the machine works properly.

• A) \(0.8142\)
• B) \(0.8662\)
• C) \(0.8571\)
• D) \(0.1858\)

Analyze the impact of interest rates on investments and the valuation of future cash flows.

Understand the concept of present value and its calculation.

Identify and explain the economic thoughts of historical and influential economists.

Explain the effects of interest rates on the economy, including the role of usury laws.

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