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A sample of 144 students is taken from a population of 2000 high-school students to estimate the proportion of students who can be expected to register at a college. Assuming that the true population proportion is 35%, determine the probability that the sample proportion will be no less than 30%.
What is the present value now (t =0) of the total revenue if the interest rate of 17% per year? specify answer to nearest cent.
An insurance market may fail to exist due to asymmetric information and adverse selection that results from it (buyers don’t know the repair risks associated with the seller’s car, just like insurers may not know the “repair” risks associated with th..
Which of the following statements is an example from the video of economists disagreeing due to differences in scientific judgment? President Obama chose Bernanke for another term even after he was chosen by Republican President George Bush.
Suppose 1.5% of the antennas on new Nokia cell phones are defective. For a random sample of 200 antennas, find the probability that
After reading Chapter 8 in the text and viewing the required video for this week, Fixed, variable, and marginal cost, address the following in your initial post: First, describe several different fixed costs and variable costs associated with operati..
What are the various price discrimination strategies that restaurants in NYC can use in targeting their customers?
Maintenance costs for a small bridge with an expected 50-year life are estimated to be $1,000 each year for the first five years, followed by a $10,000 expenditure in year 15 and a $10,000 expenditure in the year 30. If I = 10% per year, what is the ..
Fiona requires a minimum level of consumption, a threshold, to derive additional utility: U(X,Z) is 0 if X + Z ≤ 5 and is X + Z otherwise. Draw Fiona’s indifference curves. Which of our preference assumptions does this example violate?
3-Consider two communities. In Winchester two families earn $20,000 each, six families earn $50,000 each, and two earn $60,000 each. In Media four families earn $30,000 each, two earn $40,000 each and four earn $70,000. Which community has the more u..
Draw a production possibilities curve for the pleasure you get between hanging with friends and from doing your Economics problem set. Are these activities complementary or are they substitutes? Does it matter which friend you are studying with? How ..
The demand for snorkels in Berhama is given by QS = 500 – 8PS and the supply of snorkels in Berhama is given by QS = 200 + 4PS. The demand for kayaks is given by Qk = 1850 –6Pk and the supply of kayaks is given by Qk = 50 + 1.5Pk. Both goods are curr..
Given the following cost function, determine the level of (nonzero) output at which the cost function is minimized, and the level of the costs. MC=200-48Q+3Q^2
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