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The day after a snowstorm, cars arrive at Mel’s Auto-Wash at an average rate of 10 per hour according to a Poisson process. The automated car washing process takes exactly 5 minutes from start to finish.
1. What is the probability that an arriving car will find the car wash empty?
2. On average, how many cars are waiting for service?
3. On average, what is the total length of time (from arrival to departure) cars will spend at the car wash?
Load the Blue Spruce Light Up Data (latest file, through 2013). Extract and specify a model that predicts Cars through the gate as a function of Price and Average Daily Temperature.
You are borrowing money to buy your first house that costs $250,000. You go to the first bank you see, Big Attitude Bank, and they are charging 5% interest. After taking this class, you decide to shop around and find a bank called Super Cheap, that i..
illustrate what can you say about the price elasticity of demand for DVD players. Will this price reduction necessarily lead to an increase in profits for DVD player manufacturers.
Assume that the industry is monopolized by only one company. Write the equation of the TR curve and then plot the TR curve(with Q along the horizontal axis and TR along the vertical axis) for this company. Comment on the shape of the TR curve.
Choose a product from the list. Name and describe the product category below. What types of products are included? Breakfast Cereal,,Dairy products, Footwear, Fruits and Vegetables (canned, pickled and dried) Household cleaning products, Household co..
The Central Bank of Muji wishes to eliminate the recessionary gap while expansionary monetary policy. The central bank can do so by stimulating consumption and planned investment.
The company rents roller cutters and crimping machines for $16 per hour, and the marginal product of capital is 100 rollers per hour. Illustrate what do you think the previous manager should have done to keep his job.
Illustrate what is the value of goods and services purchased by the government of Numidia.
q.suppose that the income tax in a certain nation is computed as a flat rate of 5 percent but no tax is levied above
Suppose that the nominal rate is 24%, and inflation is 6%. What is the real interest rate?
What is the profit-maximizing rate of output for the firm?( b ) How much profit does the firm earn at that rate of output?
Recommend appropriate pricing and nonpricing strategies for your new or existing good or service based on the projected economy’s stage in the business cycle and the prevailing projected economic conditions for one or more macroeconomic factors. Expl..
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