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Cars arrive at Carla's Muffler shop for repair work at an average of 3 per hour, following an exponential distribution.(a) What is the expected time between arrivals?(b) What is the variance of the time between arrivals?
concepts interpret the regression equation that you calculated in the prior section. what is the meaning of y
its popular Mmmm Sundae from $2.25 to $1.75. As a result, the firm's daily sales of these sundaes have increased from 1,500/day to 1,800/day. Compute the arc price elasticity of demand over this price and consumption quantity range.
Household spending is given by the following equation: C = $100 + 0.70Yd and Intended Investment = $125. (a) Calculate the equilibrium level of income in the economy, and explain why this is the case.
Suppose annual salaries for sales associates from a particular store have a mean of $32,500 and a standard deviation of $2,500. a. Calculate and interpret the z-score for a sales associate who makes $36,000.
Advanced Analysis, let MUa=z=10-x and MUb=z=21-2y, where is marginal utility per dollar measured in utils, x is the amount spent on product A, and y is the amount spent on product B.
anderson county has 35 older-model school buses that will be salvaged for $5,000 each. these buses cost $144,000 per year for fuel and maintenance. now the county will purchase 35 new school buses for $ 40,000 each.
There is a belief that a person's performance on the GMAT (entrance exam to get into graduate school) can be predicted by their undergraduate GPA. Based on regression analysis what are the following values, (Round to three decimal places; put it ..
The price of basketballs is $90, the wage rate is $5, and the rental rate for capital is $10. What is the short-run profit maximizing level of labor demand if capital is fixed at 40 units What are the long-run profit maximizing levels.
Suppose that the interest rate is 4 percent. What is the future value of $100 four years from now How much the future value is total interest By how much would total interest be greater at a 6 percent interest rate that at a 4 percent interest rat..
let E1 denote his expenditure at the end of this year and E2 denote his expenditure at the end of next year. At the end of this year he will receive $100,000 in income, and at the end of next year, he will receive $105,000 in income.
go to FRED and search for UNRATE and compare the most recent unemployment rate to the rate associated with full employment as defined by the series NROU on FRED. Note that NROU is quarterly data so match the quarter with the most recent unemployme..
Consider the market for ice cream as in the previous problem. This has a demand curve given by D(P)=100-P and a supply curve given by S(P)=1+98P. If the government implements a $9 tax, what is the price that consumers will pay
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