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To see whether the claims for a new long-life battery were justified, a consumers' group tested a random sample of 20 batteries. Each battery was subjected to a standard heavy load until burnout, providing the following 20 lifetimes ( in minutes): 65.1 58.4 64.9 76.0 67.8 75.1 76.7 64.2 74.9 77.6 58.0 68.0 73.3 75.4 76.0 59.4 65.4 74.7 76.6 81.3 using a cell width of 5 minutes,
a. Graph the relative frequency distribution.
b. Approximately what are the mean and mode? Mark the mean as the balancing point ?
Assume that Aquafresh own price elasticity is -1.5 and that the Colgate cross price elasticity of demand with respect to Aquafresh price change is 1. How do you interpret the own and cross price elasticities? Which brand is Aquafresh mainly competi..
Consider the following sets of investment projects: (n) 0 -4,000 -3,500 -5,000 -4,500 1 0 1,500 3,000 1,8002 0 1,800 2,000 1,800 3 5,500 2,100 1,000 1,800 Compute the equivalent annual worth of each project at 1 = 13%, and determine the acceptability..
The intertemporal budget constraint for Seth is given by the equation C2 = 120 - 1.2C1 where C1 =possible consumption in year 1 and C2 = possible consumption in year 2. Assume that C1 is on the horizontal axis and C2 is on the vertical axis.
A farmer uses M units of machinery and L hours of labor to produce C tons of corn. A) Suppose the production function is C = L(0.5) x M(0.75), does the production function exhibits increasing returns to scale, decreasing returns to scale or consta..
Find the equilibrium level of real GDP for Smallville. Note: you will have to solve a quadratic equation - and GDP cannot be negative, for obvious reasons. Y = AD (equilibrium condition) T = 1,200 (taxes - non-income)
Consider the following information about Adam and Betty who wish to purchase season tickets for football and cricket at the Sydney Cricket Ground: Season ticket for cricket Adam's willingness to pay $100 Betty's willingness to pay $600
Suppose that there is an adverse oil supply shock. Show the impact that this has on the production function, the labor market (i.e. on equilibrium wage and labor), and on the actual amount of output. SHOW a diagram and DISCUSS your findings.
Now Massey Corp. invents a new technology that allows her firm to produce gilders at a constant marginal cost of $9. There are large fixed costs amounting to $20,000 to adopt and maintain (each year) this new technology, but she is able to monopol..
Southwestren Moving and storage wants to have enough money to purchase a new tractor-trailor in 5 years at a cost of $290,000. If the company set aside $100,000 in 2 years and $75,000 in 3 years how much will the company have to set aside in 4 yea..
A retailer has offered you two options to purchase kitchen and laundry appliances: A. $3598.88 cash today; or B. a down payment of $912.50 plus three additional identical payments 80 days, 160 days, and 320 days from today.
A spike in the unemployment rate - the biggest in more than two decades - raised new concerns Friday that a weak labor outlook, high oil prices and continuing woes in the housing and credit markets are leading the U.S. economy into a painful reces..
What is the marginal product of the third worker? What is the marginal revenue product of the fourth worker What is the marginal cost of the sixth worker? Based on your knowledge of marginal analysis, how many workers should you hire
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