The Red Rock School District has six buses in its fleet. The time between bus failures follows
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The Red Rock School District has six buses in its fleet. The time between bus failures follows an exponential distribution with a mean of twenty days. During the time a bus is out of commission, the district must lease another bus at a cost of $80 per day.The district is considering hiring Tom to handle maintenance. It is estimated that Tom can repair a bus in an average of 10 hours, and Tom wants a salary equivalent to $160 per working day. A working day lasts 8 hours, and there are 200 working days per year. What is the daily cost if Tom is hired?
a. 165.33
b. 182.40
c. 197.86
d. 540.12
e. None of the above
DistributionThe word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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