In the design of riveted joints, what does the term "efficiency of the joint" typically refer to?

1
Ratio of the strength of the riveted joint to the strength of an unriveted plate
2
Ratio of the total strength of all rivets to the strength of the plate
3
Ratio of the maximum load-bearing capacity to the weight of the rivet
4
Ratio of the tensile strength to the shear strength of the rivet material

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