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A quality controller selects 8 items at a predefined interval and found that 75% of the time the item was non-defective. Let "S" represent the occurence of a non defective item. Assuming that this experiment is Binomial:
a. Complete the Binomial Notation Table
b. Derive the probability distribution table that governs the random variable X if X is the number of non-defective items.
c. Construct a histogram based on (b) above
d. Find the expected value of X, mean (Ux), and the Standard Deviation
If this statement is true and why or why not. "Ronald Coase would suggest that taxing your roommate at the margin for playing music too loudly would result in the efficient allocation if the tax is set appropriately."
You have been assigned to contract with an outside research firm to do both qualitative and quantitative research project for your company. Describe the criteria that you would establish in making this selection. In addition, explain your reasons for..
Compare and contrast the difference between dynamic (intertemporal) efficiency and static efficiency with respect to non-renewable resources. What are the efficiency conditions for each? What costs reflected in the inter-temporal analysis are not cap..
Illustrate what is most X that can be produced? most Y. Illustrate what is formula for opportunity cost of X in terms of Y in this economy.
Briefly explain the characteristics (or properties) of equilibrium in the Cournot Model and the assumption under which it is achieved.
Explain how local, state, and federal policymakers can impact the delivery of healthcare in this country. Should be at least 400 words, and cite appropriate references.
The US lags behind Germany in providing vocational training (apprentices). It described how Siemens, an important global industrial firm, trains its apprentices. This is very expensive for Siemens and for German Taxpayers. Discuss the impact that thi..
If market participants expect stocks in the technology sector to increase in price next year, what will happen to supply, demand and price today? Give an answer and also show with a supply-demand curve. What else would be needed for an asset price bu..
For each of Marshall’s four rules of derived labor demand, come up with one example of an industry or job that you would expect to have especially elastic or inelastic labor demand based on that particular rule.
For 5 years you have owned and operated a small company, ABC Desks, that designs and manufactures high-end custom wooden desks. The business is incorporated and pays state and federal taxes separate from your personal income. Develop an Income Statem..
Illustrate what money supply should the Fed set in yr 2009 if it wants to keep the price level stable?
Assume that the inverse demand function for a two period depletable resource is P =24 – 0.2q and the constant marginal cost of supplying it is $6 (a = 24, b = 0.2, c = 6). What would be the efficient price in the two periods? What would be the margin..
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