Use the Figure Below to Answer the Following Question(s)

question 117

Multiple Choice

Use the figure below to answer the following question(s) .
Figure 3-9
-Given the demand (D) and supply (S) for gasoline in Figure 3-9, if the price of gasoline were $1 per gallon,

• A) consumers would wish to purchase more than was being supplied.
• B) producers would be supplying more than consumers wished to purchase.
• C) the quantity consumers wished to purchase would equal the quantity that producers wished to supply.
• D) there would be a tendency for the price of gasoline to fall.

Describe the importance of standard deviation in assessing the reliability of a product, machine, or process.

Understand the relationship between component reliability and overall product reliability.

Apply reliability concepts to series and parallel systems.

Evaluate the cost-effectiveness of preventive maintenance versus breakdown repair.

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Definitions:

Moral Blame

Attribution of ethical responsibility or wrongdoing to an individual or group.

Preventing Future Harm

Strategies or actions taken to avoid potential injuries or damages before they occur.

Contributory Negligence

A legal doctrine that reduces the amount of damages a plaintiff can recover in a negligence-based claim, based upon the degree to which the plaintiff's own negligence contributed to the injury.

Assumed Risk

A principle that a person may voluntarily undertake or accept a risk inherent to an activity, thus absolving others from liability for any injury resulting from that risk.