Assume That the Probability That an Airplane Engine Will Fail $\frac { 1 } { 3 }$

question 107

Multiple Choice

Assume that the probability that an airplane engine will fail during a torture test is $\frac { 1 } { 3 }$ and that the aircraft in question has 5 engines. Find the probability that no engines will survive.

• A) \(\frac { 1 } { 243 }\)
• B) \(\frac { 1 } { 3 }\)
• C) \(\frac { 1 } { 5 }\)
• D) \(\frac { 1 } { 486 }\)
• E) \(\frac { 1 } { 244 }\)

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Definitions:

Average Total Cost (ATC)

The total cost of production divided by the quantity of output produced, representing the per unit cost of production.

Average Variable Cost (AVC)

The total variable costs of production (like labor and material costs) divided by the quantity of output produced, indicating the average variable expense per unit of output.

Marginal Cost Curve

A graphical representation showing how the cost to produce one additional unit of a good changes with different production levels.

Average Total Cost (ATC)

The average expense per unit of output, calculated by dividing the overall production cost by the amount of output generated.