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An instrument has been used to measure the length of a part. The result was 6.70052 cm. An error-of-measurement study on the instrument had the following results:
Bias: +0.00254 cm (on the average, the instrument reads 0.00254 cm high).
Repeatability (precision): 0.001016 cm (1s).
Make a statement concerning the true value of the part just measured. State all assumptions needed.
Please do not answer the question with just a number answer, state all assumptions needed and have a word answer please.
If today is Year 0, what is the future value of the following cash flows 10 years from now? Assume an interest rate of 6.9 percent per year.
Explain how this monetary policy action will affect real growth and inflation in the short run and the long run.
Instead of putting price ceiling on medical service, some states (e.g. Texas) put cap on malpractice lawsuit compensation. In your opinion, does medical litigation promote the practice of defensive medicine?
What are the differences between a wholesaler and a retailer? Discuss some of the services that wholesalers provide. Why do you think that Sam's Wholesale CLub had to change their name to Sam's Club and no longer be considered a Wholesale company?
Tiebout competition: a short essay. Discuss how Tiebout competition relates to the real world and give an example of a policy that can be understood through Tiebout competition.
Along the political spectrum of liberal to conservative, in what style might Le Locle Examiner be expected to be written? Explain your answer.
The manager of a major league baseball team argues: “Even if I thought Player X was washed up, I couldn’t get rid of him. He’s in the third year of a four-year, $24 million deal. Our team is in no position to eat the rest of his contract.” Analyze th..
Otto’s brother, Dent Carr, is in the auto repair business. Dent recently had little else to do and decided to calculate his cost conditions. He found that the total cost of repairing s cars is T C (s) = 2s2 + 10. Average Variable Costs: Average Fixed..
The demand and supply functions for pizza in the local market are: QD = 20,000 - 833P and QS = 5,000 + 417P. Calculate consumer and producer surplus in this market. If the minimum wage is increased by $2 per hour, the new market supply curve becomes:..
In Role of Government in Regulating Business Ethics and "Business Ethics: The Law of Rules, the authors seem to argue that overreaching laws and regulations do not facilitate ethical behavior, and indeed might have the opposite effect. Using these ar..
Suppose that you go to "In and Out Burger" on your birthday to get a burger and find out that your first burger is $1 off if it is your birthday. In 2 sentences or less, indicate how total surplus is affected and justify your answer.
What is the marginal opportunity cost of producing the second unit of clothing? What is the total opportunity cost of producing the second unit of clothing? What is the marginal opportunity cost of producing the third unit of clothing? What is the to..
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