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Consider the following sample of nine wait times measured in seconds at a drive through coffee shop. The population mean and standard deviation are 100 and 20 respectively.
125 95 66 116 99 91 102 51 110
a. What is the size of the sampling error in this case?
b. What is the probability that the average wait time would be less than 80 seconds?
c. What is the probability that the average wait time would be more than 109 seconds?
d. What is the probability that the avrg wait time would be btwn 90 and 95 seconds?
e. What is the probability that a customer waits more than 65 seconds?
f. Calculate the sample st deviation.
At the end of the 8-year planning horizon, the mixer will have a salvage value of $5,000. If the mixer is replaced, a new mixer will require an initial investment of $375,000. At the end of the 8-year plaaning horixon, it will have a salvage value..
The demand for widgets is found to be Q=100-11P +0.5Y, where P is the price of widgets in dollars, Y is average income in thousands and Q is the quantity of widgets in thousands. Say that P=7 and Y=50.
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research the current value of the following economic indicatorsanalyze the current macroeconomic situation.discuss
Production engineers at Sinotron believe that a modified layout on its assembly lines might increase average productivity (measured in the number of untis produced per hour). However, before the engineers are ready to install the revised layout o..
How would you modify the model to capture this effect. How would you test the null hypothesis that the value of β2(effect of X2) is constant against the alternative hypothesis that the value of β2(effect of X2) increased when X1 increased.
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Find the price elasticity of demand (at every price range) for the demand given below. Characterize the demand as elastic/inelastic/unit elastic at each one of these price ranges. P Qd 120 80 100 72 80 65 60 60
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Use the given equation and determine the demand equation as a function of Ps if the price of other pastas (Po) is $2,
Draw an iso-cost line for this firm, showing combinations of L and K that cost $6 and another iso-cost line showing combinations that cost $12. What are the slopes of these iso-cost lines Sketch the production isoquant depicting 10 units of output.
Assume that 10 percent of capital depreciates each year. What gross saving rate is necessary to make the given capital-labor ratio the steady-state capital-labor ratio (Hint: In a steady state with no population growth or technological change.
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