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Using supply-and-demand diagrams, show and explain the effects of the following events on the price of CD-Rs and the quantity of CD-Rs sold. For each event, identify which of the determinants of demand or supply is affected, how it influences demand or supply, and what happens to the equilibrium price and quantity.
a) The price of a CD burner falls.
b) Workers who make CD-Rs get a pay raise.
c) Producers introduce new cost-saving technologies in their CD-R production plants.
d) Consumers' incomes increase and CD-Rs are a normal good.
e) Free peer-to-peer music exchange through the Internet becomes legal.
Use the normal approximation to the binomial distribution and part (b) to answer the following question: What is the probability that a seat will be available for every person who shows up holding a reservation?
Why is it best to compare medians and interquartile ranges for these data, rather than comparing means and standard deviations?
What is the shape of a frequency distribution with an arithmetic mean of 12,000 pounds, a median of 12,000 pounds, and a mode of 12,000 pounds ?
What is the probability and Determine a 99% confidence interval estimate of the mean mileage.
What proportion of the 25 samples had exactly 0 bad records? Remember that probability tells us only what happens in the long run.
You are considering buying a new house in a new city. You want to know the average price of the houses in a new community to which you are considering moving
Travelers arrive at a bus station from 6 a.m., according to a Poisson process with rate λ = 1 per minute. The first bus leaves T minutes after 6 a.m.
the following sample of heights was taken from 7 cans off the assembly line12.9 12.9 12.8 12.9 13.4 13.2 12.6build a 90
a manufacturer has designed a process to produce pipes that are 10 feet long. the distribution of the pipe length
If during this month, the recorded fund Flow was $5 billion, what is the residual using this linear model? Did the model provide an underestimate or overestimate for this month?
Probability of passing a student who guesses on every question is less than 0.10. What score should be set as the lowest passing grade if each question is worth one point?
Compute the standard deviation for the pretest and posttest scores that were used in problem 3.12. The scores are reproduced here.
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