National Welding Uses Industrial Robots in Some of Its Assembly-Line

question 152

Multiple Choice

National Welding uses industrial robots in some of its assembly-line operations. Management has determined that, on average, a robot breaks down after 1,000 hours of use and that the lengths of time between breakdowns are exponentially distributed.
A. What is the probability that a robot selected at random will break down between 300 and 800 hours of use?
Round your answer to two decimal places.
B. What is the probability that a robot will break down after 1,200 hours of use?
Round your answer to two decimal places.

• A) a. 0.29, b. 0.3
• B) a. 0.61, b. 0.13
• C) a. 0.76, b. 0.44
• D) a. 0.26, b. 0.61

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Market Value

The current price at which an asset or service can be bought or sold in a public marketplace.

Stock Split

A corporate action to increase the number of outstanding shares by dividing each share, which typically reduces the share price.

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A legal face value assigned to a share of stock as specified in the corporate charter, which bears no relationship to its market value.