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The article says that at the moment the pirates are holding more than L=30 ships and the average ship is held for W=150 days (aka 5 months). That means they are seizing roughly lambda= six ships a month (lambda = L/W). If cutting ransoms by 20% lowers the time held by 20% (so it would be down to 120 days), how many ships per month would they be able to capture?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92600261

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