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 Explain in some detail the response of the oil companies, their governments, and the consumers to the new-found OPEC power and rising prices.

This includes the formation of new international organizations, as well as devising specific policies.

Compare three NOCs and discuss what makes a NOC successful.

What steps should be avoided, and what approach do you believe are necessary to run a successful oil industry with a well-functioning NOC.

. An office manager has received a report from a consultant that includes a section on equipment replacement. The report indicates that scanners have a service life that is normally distributed with a mean of 41 months and a standard deviation of 4 months. On the basis of this information, determine the percentage of scanners that can be expected to fail in the following time periods: a. Before 38 months of service. b. Between 40 and 45 months of service. c. Within + 2 months of the mean life.

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