An oil company is planning extraction strategy in a region. The company is contracted to deliver M barrels of crude oil per week to its customer. The company would like to make certain that it extracts at least M barrels per week at least 90% of the time. To do the extraction the company can build a number of oil rigs. Assume that daily production from each rig is well-described with uniform distribution from a barrels to b barrels. Required:
Determine the minimum number of rigs that will make sure that the overall production is more than M on at least 90% of weeks.

Anew firm is developing its business plan. it will require $615,000 of assets, and it projects $450,000 of sales and $355,000 of operating costs for the first year. management is reasonably sure of these numbers because of contracts with its customers and suppliers. it can borrow at a rate of 7.5%, but the bank requires it to have a tie of at least 4.0, and if the tie falls below this level the bank will call in the loan and the firm will go bankrupt. what is the maximum debt ratio the firm can use? (hint: find the maximum dollars of interest, then the debt that produces that interest, and then the related debt ratio.)a. 41.94%b. 44.15%c. 46.47%d. 48.92%e. 51.49%