Examlex
On a particular busy section of the Garden State parkway in New Jersey,police use radar guns to detect speeding drivers.Assume the time that elapses between successive speeders is exponentially distributed with the mean of 15 minutes.What is the probability of a waiting time in excess of 25 minutes between successive speeders?
Spirit of Capitalism
A term from Max Weber's sociology referring to the set of ethical and cultural values that encourage hard work, frugality, and efficiency in pursuit of economic success.
Iron Cage
A concept introduced by Max Weber to describe the increased rationalization inherent in social life, particularly in Western capitalist societies, leading to individuals feeling trapped by systems and bureaucracy.
Rationality
The quality or state of being reasonable, based on facts or reason, guiding behavior or beliefs by logic rather than emotion or tradition.
Formal Rationality
A decision-making process focused on efficiency, predictability, calculability, and dehumanization, often associated with bureaucratic organizations.
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