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The Efficiency of a Flexible Manufacturing System (FMS)comes from Reductions

question 3

True/False

The efficiency of a flexible manufacturing system (FMS)comes from reductions in setup and waiting times.


Definitions:

Interest Rate

The cost incurred by a borrower for the privilege of using funds, defined as a percentage of the principal value.

Indifferent

A state of having no preference between two or more outcomes; neutrality in preference.

Interest Rate

The percentage at which interest is paid by borrowers for the use of money that they borrow from a lender.

Future Value

The amount of money in the future that an amount of money today will yield, given prevailing interest rates

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