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Instruction 6.8
A company has 125 personal computers. The probability that any one of them will require repair on a given day is 0.15.
-Referring to Instruction 6.8 and assuming that the number of computers that requires repair on a given day follows a binomial distribution,compute the probability that there will be more than 25 but less than 30 computers that require repair on a given day using a normal approximation.
Wages
Payments made to workers for their labor, typically calculated on an hourly, daily, or piecework basis.
Frank Knight
An influential economist known for his work on risk, uncertainty, and the role of entrepreneurship in economic theory.
Joseph Schumpeter
An Austrian economist and political scientist known for his theories on business cycles and innovation. He introduced the concept of creative destruction, which describes how old industries are destroyed and replaced by new ones.
Karl Marx
A 19th-century philosopher, economist, and political theorist known for his critical theories about capitalism and advocacy for socialism.
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