A Harvesting Firm Has Six Combines, Each Requiring Service at an Average

question 28

Essay

A harvesting firm has six combines, each requiring service at an average rate of once every 40 hours, according to an exponential distribution. The firm has a mechanic who needs four hours to complete the average repair with exponential service times.
a. What is the average utilization of the mechanic?
b. What is the average number of combines in the system?
c. What is the average number of combines in line?
d. What is the average time spent being repaired and waiting?
e. What is the average time spent in line waiting for repair?

Distinguish between cases of intentional fraud and innocent misrepresentation and their legal consequences.

Comprehend the requirements and conditions under which a contract can be rescinded due to misrepresentation.

Recognize the difference between concealment and nondisclosure in contract law.

Identify the remedies available for misrepresentation and fraud in contracts.

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Definitions:

Willingness to be Vulnerable

The degree to which an individual is open to the risk of emotional exposure, harm, or uncertainty in relationships.

Perceived Organizational Support

How much employees feel that their company appreciates their efforts and is concerned about their welfare.

Organizational Support Theory

A theory that states that employees who have strong perceptions of organizational support feel an obligation to care about the organization’s welfare and to help the organization achieve its objectives.

Perceived Organizational Support

Indicates the extent to which employees believe their organization values their contributions and cares about their well-being.