Use the Following to Answer the Question(s) Below

question 33

Multiple Choice

Use the following to answer the question(s) below.
IT staff for a large corporation has developed the following probability distribution for the number of calls requiring troubleshooting problems per day.

-The expected number of calls per day is

• A) 2.77.
• B) 1.56.
• C) 1.21.
• D) 1.31.
• E) 1.0.

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Definitions:

Fixed Inputs

Inputs in the production process that cannot be easily increased or decreased in the short run, such as land or machinery.

Variable Inputs

Resources used in production that can vary in quantity in the short run, such as labor and raw materials.

Diminishing Returns

A principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other inputs remain constant.

Fixed Inputs

Resources used in production that cannot be easily increased or decreased in the short term, such as buildings or machinery.