By Design, a Required Dimension of a Part Is 0

question 20

Multiple Choice

By design, a required dimension of a part is 0.575 cm plus or minus 0.008 cm. Assume that the process producing this part is stable with a mean of 0.579 cm and standard deviation of 0.002 cm. The specification limits for this part are

• A) 0.554 to 0.596 cm.
• B) 0.567 to 0.583 cm.
• C) 0.576 to 0.598 cm.
• D) 0.572 to 0.584 cm.
• E) 0.575 to 0.578 cm.

Comprehend the main sources of economic profit.

Analyze the different factors that affect the effective rate of interest for lenders and borrowers.

Describe the distribution of national income between labor and capitalists and understand the historical changes in this distribution.

Explain the rationale behind compensating an entrepreneur with profit.

---

Definitions:

Investment

Assigning monetary resources with the goal of achieving income or gains.

Corporate Stock

Shares of ownership in a corporation, representing a claim on part of the corporation's assets and earnings.

Inventories

Goods and materials that a business holds for the ultimate goal of resale or processing in the production cycle.

Marginal Efficiency

Marginal efficiency is the rate of return on an investment project or the profitability of investing in additional units of a good or service.