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Consider a three sequentially stepped process named as Process A, Process B, and Process C. Input comes into Process A. Output from A goes into Process B. Output from B goes into Process C. Output of C is the final output. Suppose that it takes 2 minutes per unit in Process A, 3 minutes per unit in Process B and 1 minute per unit in Process C. Suppose further that Process A receives input at the rate of 30 per hour. Where would you place a buffer?
Unilateral Mistake
A situation in contract law where only one party is mistaken about a fundamental aspect of the contract, which under certain conditions, may lead to the contract being voided.
Elements
Fundamental components or aspects that constitute the essential characteristics of something.
Type of Fraud
Specific categories of deceit or trickery intended to gain an unfair or unlawful advantage, such as identity theft or insurance fraud.
Establish
To set up, start, found, or create something on a firm or permanent basis.
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