It costs50 to find out whether a spare part required for repairing a failed device is faulty or not. Installing a faulty spare part causes a damage of1000. Is it on average more profitable to use a spare part without checking if
(1) 1% of all spare parts of that type
(2) 3% of all spare parts of that type
(3) 10 % of all spare parts of that type are faulty?
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