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Romi, a production manager, is trying to improve the efficiency of his assembly line. He knows that the machine is set up correctly only 70% of the time. He also knows that if the machine is set up correctly, it will produce good parts 95% of the time, but if set up incorrectly, it will produce good parts only 40% of the time. Romi starts the machine and produces one part before he begins the production run. He finds the first part to be good. What is the revised probability that the machine was set up correctly?
Broader Participation
Involvement of a wider range of individuals or groups in a decision-making process or project, aiming to enhance inclusivity and diversity.
Escalation Of Commitment
The phenomenon of investing increasing resources in a decision, action, or project even when it is failing, based on the hope that things will improve.
Personal Accountability
The willingness to take responsibility for one's own actions, decisions, and the subsequent outcomes or results.
Logical But Impractical Decisions
Decisions that make sense from a rational standpoint but are not feasible or practical in reality.
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