ABC Company is unloading coal from a barge on the Mississippi River. The barge contains 1,760 tons of coal. The coal is shoveled
out of the barge with a material handling machine into dump trucks. Each truck takes 4 minutes to load, 4 minutes to travel to the dump site, 4 minutes to dump, and 4 minutes to return. Each dump truck holds 22 tons of coal. Assuming no delays, how quickly can the barge be unloaded and what is the optimal number of dump trucks to be used?
Each truck has a 16 minute window to pick up and dump the coal. This process can be observed as an assembly line where each stage of production is the stages of coal transport. When Truck A is travelling to the dump site, Truck B can be loading the coal. When Truck B is travelling to the dump site and Truck A is dumping the coal, Truck C would be loading the coal. When Truck A is travelling to the loading area, Truck B dumping the coal and Truck C travelling to the dump site, Truck D would be loading the coal. Once Truck A gets to the loading area, Truck D would be on its way to the dump site and so on. In each 16 minute window 88 tons of coal (22 tons * 4) is picked up and dumped, that is, 22 tons every 4 minutes. Given that there are 1, 760 tons of coal, the total time taken to dump all the coal is equal to 320 minutes:
A security is defined as an item that holds financial value and represents ownership of a property by the holder. It is used as a means of gaining some financial assistance.
The security acts something a creditor can use to get back their money in case the debtor fails to pay up.
In this case Pro-Racket takes the bill of lading to the local bank and uses it to obtain funds to hold the company over until final payment is received from the foreign distributor.
The Bill of lading here has been used as a security to obtain a loan from the bank
In simple words, moral hazard refers to the situation when an individual do not act with full responsibility due to the fact that any loss from their behavior will be borne by some third party.
Thus, by assessing the employees before employment by a test will help to decide the employer if the individual is worthy of the job or not. Thus, efficient employees will be selected and less mistakes will occur.
