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A competitive economy with private ownership consists of 100 workers and 100 capitalists, and three goods: labour, robots, and pie. Each capitalist owns one robot and a firm that produces pie according to the production function C=min(R,L), where R is the number of robots and L the number of employed people. Both workers and capitalists can work (own an endowment that includes labour), but workers own nothing else but their labour. All workers and capitalists derive utility only from the pie they consume. Nobody has an initial endowment of pie.
Determine equilibrium prices and quantities.
A distributor of pre-washed shredded lettuce is opening a new plant and considering whether to use mechanized process or manual process to prepare the product.
Compilers are almost always written in C. This raises something of a "chicken and egg" problem-how was the first C compiler for a particular system created? If you need to create the first compiler for language X on system Y, one approach is to cr..
A worker takes a random sample of 100 boxes and finds that the average amount of detergent in a box is 510 grams.
The factor: Increase the variability of the scores. Assume that all other factors remain constant.
A sealed pressure vessel of constant volume (V = 1 m3) is filled entirely with fluid at atmospheric pressure (Pi= 101 kPa)
Suppose Napoleon were using Bayes' theorm to revise his information. To do so, he would have had to make some judgements about P(Prussian and English Join forces |Napoleon Wins) and P(Prussian and English Join forces |Napoleon loses).
Explain why it is important that the researchers created the two experimental groups in this study by using random assignment.
Use the data in table 1 to find the MSE and the RMS error for the regression line predicting length from weight. Which statistic gives abetter sense of how far the data are from the regression line? Hint: keep track of the units, or plot the data,..
Assume that the time between crashes follows an exponential distribution. Give your answer to 3 decimal places.
Two athletic teams, A and B, play a best-of-three series of games (i.e., the first team to win two games is the overall winner).
Find an equation of the least squares regression line. Round the slope and y-intercept value to two decimal places. Describe method for obtaining results.
A fire department aims to respond to fire calls in 4 minutes or less, on average. Response times are normally distributed with a standard deviation of 1 minute. Would a sample of 18 fire calls with a mean response time of 4 minutes 30 seconds provi..
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