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Can someone answer the following problems below and show work.
1. The average diameter of sand dollars on a certain island is 4.00 centimeters with a standard deviation of 0.70 centimeters. If 25 sand dollars are chosen at random for a collection, find the probability that the average diameter of those sand dollars is more than 3.87 centimeters. Assume that the variable is normally distributed.
2. The average number of mosquitos in a stagnant pond is 70 per square meter with a standard deviation of 8 per square meter. If one square meter of the pond is chosen at random for a mosquito count, find the probability that the average of the count is more than 68 mosquitos per square meter. Assume that the variable is normally distributed.
3. Which of the above two problems (a) or (b) requires application of the Central Limit Theorem? Explain your reasoning.
4. Assume that the mean diastolic blood pressure of normal adults is 80 millimeters of mercury (mm Hg) with a standard deviation of 4.8 mm Hg. Assume that the variable is normally distributed. If a sample of 30 adults is randomly selected, find the probability that the sample mean will be between 80 and 81.4 mm Hg.
q. in class we discussed the idea that small farmers are sometimes price takers i.e. the price of wheat are set in the
Identify a large to mid-size business within the city or town where you live. Identify three stakeholders who stand to gain or lose the most by the activities of business and whose concerns the business needs to address.
Suppose you have the generic demand curve. Calculate demand using the current market conditions. Is P1 a substitute or complement? (Why) Is P2 a substitute or complement? (Why) Is this product normal it inferior to Income? (Why)
Recruitment involves the hiring of prospective employees. Job analysis is a process of obtaining all pertinent job facts, and produces job descriptions and job specifications. Both overlapping responsibility and responsibility gaps should be used whe..
One of the problems in a competitive market environment is deadweight losses. What are deadweight losses, and what are their causes? What are the market effects of a deadweight loss? What are the major factors that determine who will bear the burden ..
If Rhine Company ignores possibility that or firms may enter its market, it should set a price of $10,000 for its product, which is a power tool. Explain how can firm's manager extend planning horizon.
Suppose there are 100 identical firms in the perfectly competitive cement industry. Suppose the cement industry is a Constant-Cost industry. Find the short-run supply (QS) of the industry. Compute the consumer surplus (CS) and producer surplus (PS). ..
An excess demand for money in the money market causes. Which of the following pairs of events will definitely lead to an increase in the equilibrium interest rate?
Suppose that market demand for golf balls is described by Q = 90 - 3P, where Q is measured in kilos of balls. There are two firms that supply the market. Each firm has a constant unit cost of 10. Suppose the firms compete in quantities. How much does..
What was the basis of the U.S. government's finding against Microsoft (abuse of monopoly-like economic power)?
An industry has two firms, each of which produces output at a constant unit cost of $10 per unit. The demand function for the industry is q(p) = 1,000,000/p. Give the best-response function for each firm. What is the Cournot equilibrium price for thi..
How much is a college education worth? In the text, we supposed a col- lege education raised a person’s wage by $30,000 per year, from $40,000 to $70,000. Assume the interest rate is 3% and there is no growth in wages, then answer the following. Disc..
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