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Homework answers / question archive / 1)Questions based on chapter 10 of METS-3 (Maintenance Management) 20 a)
1)Questions based on chapter 10 of METS-3 (Maintenance Management) 20 a)... failures b) ... failures c) ... failures Time, t Figure 10.4 33 9. Read the following three statements: a) Figure 10.4 is known as the bathtub curve. b) In figure 10.4, the failure rate in section a) is relatively high as a result of wear-out failures. c) In figure 10.4, the failure rate in section C) is relatively high as a result of random failures. Which statement/s is/are correct? [1] band c [2] a, bandc [3] a and b [4] a [5] None of the options (1, 2, 3 or 4) is correct.
2)Table 14-2 The following table presents cost and revenue Information for Soper's Port Vineyard. Quantity Produced Marginal Cost Quantity Demanded REVENUES Total Revenue Marginal Revenue 0 1 0 1 Price 120 120 120 2 COSTS Total Cost 100 150 202 257 317 385 465 562 682 120 4 5 6 2 3 4 5 6 7 8 120 120 120 120 120 7 8 Refer to Table 14-2. Consumers are willing to pay $120 per unit of port wine. What is Sopers Port Vineyards economic profit at their profit maximizing point? Select one: a $78 b. $278 c. $375 d. $243
1)Only option (a) is correct of the given 3 options.
The given curve is indeed known as the bathtub curve, however the failure rate is higher at section a is because of lack of proper control or poor design of the manufacturing process. The management cannot identify these shortcomings in their techniques initially, thus leading to a higher failure rate. Also what statement c states is incorrect because a higher failure rate in section C is a result of the wear and tear of the equipments and not due to random failures.
2)
| quantity | Total cost | marginal cost | quantity demanded | price | total revenue | marginal revenue |
| 0 | 100 | 20 | 0 | 120 | 120 | 6 |
| 1 | 150 | 30 | 1 | 120 | 180 | 4 |
| 2 | 202 | 82 | 2 |
120 |
284 | 4.5 |
| 3 | 257 | 137 | 3 | 120 | 394 | 4.2 |
| 4 | 317 | 197 | 4 | 120 | 514 | 5 |
| 5 | 385 | 265 | 5 | 120 | 650 | 6 |
| 6 | 465 | 345 | 6 | 120 | 810 | 7 |
| 7 | 562 | 442 | 7 | `120 | 1004 | 7.5 |
| 8 | 682 | 562 | 8 | 120 | 1244 | 8.1 |
