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Problem: Income range 5-15 15-25 25-35 35-45 45-55 55 or more Midpoint x 10 20 30 40 50 60 Percent of super shoppers 20% 13% 21% 17% 20% 9%
Required:
Question 1: Compute the expected income μ of a super shopper (in thousands of dollars). (Enter a number. Round your answer to two decimal places.) μ = 3 thousands of dollars.
Question 2: Compute the standard deviation σ for the income of super shoppers (in thousands of dollars). (Enter a number. Round your answer to two decimal places.) σ = 4 thousands of dollars.
Why are people who possess specific human capital less likely to change jobs, other things being equal, than those who possess general human capital? Does this imply that people who possess large amounts of specific human capital will never migrate? ..
Consider a two-player symmetric game with two pure strategies, and let F(x, y) be the expected fitness to a player using mixed strategy x when meeting another.
What prices are these businesses in your chosen industry charging? Try to get at least ten examples of businesses and the prices they are charging.
If economists wish to determine relative factor abundance across countries, why don't they simply calculate wage/rate ratios across countries and then compare these ratios?
globalization was welcomed around the world at the beginning of the 1990s. different trade theories were used to
Describe the formation of early writing systems. Explain how settled agriculture led to civilization (meaning economic specialization and interdependence).
Cutie's Cruise Lines realized that they lose money every time they sail with even one empty cabin. The company VP of Operations has asked you, the company.
An owner is thinking about building a 35,000 seat stadium. He has data from another stadium being built that shows that it is costing about $11.8 million for a similar stadium that seat will seat 42,000 people. Estimate the cost for the owner.
Current Event That talks about Market For Factors Of Production. In the first paragraph, indicate the title of the article, author of the article, source of the article, and what the article is talking about.
Did they perform all of the steps associated with the audit program? Did they perform the steps accurately? If not, describe the problem and follow up on it to the extent possible with the information given.
What happens to total expenditure of the tour agency if the price falls from $350 to $250 per night per room? Calculate the demand elasticity of the hotel room. Is the demand for hotel room elastic, inelastic, or unit elastic?
How will the price of a mountain bike and the number of bikes produced by Mike's Bikes change in the long run?
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