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Transistors produced by one machine have a lifetime that is exponential distributed with mean 50 hours. Those produced by another machine have a lifetime that is exponential distributed with mean 100 hours. A package of transistors contains 3 produced by the first machine and 9 produced by the second machine. Let X be the lifetime of a transistor picked at random from this package. Find: (a) the cdf of X; (b) P(X > 150); (c) the pdf of X; (d) E[X]; (e) Var(X); (f) Is X memoryless? Either give a proof or counterexample.
The types of quantitative research are descriptive, correlational, quasi-experimental, and experimental. How do these research types differ relative to the influence of bias, control, and manipulation? Is it possible to conduct true experimental rese..
John has two job offers when he graduates from college. John views the offers as identical, except for the salary terms. The first offer is at a fixed annual salary of $50,000. The second offer is at a fixed salary of $20,000 plus a possible bonus of..
Kelson Electronics, a manufacturer of VCRs, estimates the following relation between its marginal cost of production and monthly output: MC = $150 + 0.005Q. What does this function imply about the effect of the law of diminishing returns on Kelson's ..
Some goods that are bought and sold markets generate benefits that are realized outside of the market. A policy that will make these markets more efficient is...
A bill was recently introduced in the US Congress to limit greenhouse gas emissions from electricity generation and require electricity producers to generate a minimum percentage of power using renewable fuels, with some emission rights to be auction..
What is the equilibrium price and quantity (P* and Q*) in the market for oranges with the following conditions? An event in Florida changed the supply of oranges. Demand did not change. The new supply equation is Q=5+P what is the new equilibrium pri..
A sudden escalation in the utilization rates and, correspondingly, medical expenditures for treatment of ischemic heart disease (a procedure usually covered by insurance) would immediately. Insurance coverage of which treatment would likely cause the..
What is the capitalized equivalent amount worth, at 8% annual interest compounded semi annually, for a present initial cost investment of $50,000, a series of semi annual positive disbursement of $5,000 that extent to infinity, and in 12 years there ..
Illustrate the effect of increasing Government spending on all the macro-economic variables assuming a horizontal AS curve.
Suppose the demand and supply for wine within the U.S. is: Suppose the demand and supply for wine in the rest of the world (R.O.W.) is: Calculate the deadweight loss if the U.S. imposes a tariff of 25 cents per bottle of imported wine.
Bond rating agencies such as Moody's publish rankings of the credit quality of corporate borrowers. AAA rated corporations have the lowest level of default risk followed by AA and A the Baa, etc. Under what circumstances would the spreads between yie..
Maintenance costs for a small bridge with an expected 50-year life are estimated to be $1000 each year for the first 5 years, followed by a $10000 expenditure in the year 15 and a $10000 expenditure in the year 30. If the maintenance operation is con..
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