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The weights of a sample of nine boxes sent by UPS are: 12, 6, 7, 3, 10, 7, 5, 11, and 8. Compute the following summary statistics.
a) mean b) range c) mode b) median e) Sample Standard Deviation f) Sample Variance
g) If you were to create a box plot for the data, list the values for the 5 labels on the plot.
Suppose a firm employs capital (K) and labor (L) to produce a product with the following production function: Q = min(K, L), where Q is the quantity produced and min(K, L) is the minimum (i.e., smallest) value of K or L. For example, if K = 20 and L ..
Suppose that a security costs $3,000 today and Pays off some amount b in one year. Suppose that B. is uncertain according to the following table of Probabilities:
Two software companies, Firm 1 and Firm 2 sell competing products. Let pi and xi be the price and quantity sold by Firm i, i = 1, 2. The demand functions for Firm 1 and Firm 2are given by x1 = 1000(90 – 1/2 p1 + 1/4 p2) and x2 = 1000(90 -1/2 p2 + 1/4..
Evaluating new vehicle technologies to reduce costs is important for companies like UPS also other companies involved in parcel delivery services.
When the Fed sells government securities to the banks, how does it usually receive payment for the securities?
A second firm is considering entering this market. What variety should it offer. What prices will the firms charge.
The reduction in aggregate demand caused by deflation:
Consider an economy where people can be either employed (e) or unemployed (u) . Let’s normalize e+u=1 , so that at any given point in time, e is the fraction of people employed. Conditional on being employed today, the probability of getting fired is..
What is rent seeking behavior? How does it explain why government has grown in recent years and how it explain why it is difficult to change tax or spending policies in the United States?
Southwest Airlines began with flights within the state of Texas as a regional airline operating four aircraft. When airline deregulation occurred nationally.
Draw a spider plot for the level of demand in year 5 (halfway through the 10-year horizon) when L = 1000 ± 20%, year 1's demand ranges from
Based on your answers in a also b, how can you reconcile the president's statement with economics. Can you suggest how his statement could be modified to be consistent with the IS-LM model.
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