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You want to test whether or not the following sample of 30 observations follows a normal distribution. The mean of the sample equals 11.83 and the standard deviation equals 4.53.
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The number of intervals or categories used to test the hypothesis for this problem is
Sheryl spends all her leisure time and all her money on sailing. She doesn’t value leisure time if she can’t sail, and she can only sail if she has leisure time. Sailboat rentals cost $10 per hour, and Sheryl earns W per hour. How many hours will she..
M-Pesa in Kenya has significant network effects (it becomes more valuable to participate as the number of people grows that use it) across several sides or dimensions. Select the side/dimension that is least dependent on the network effects of the M-..
A student and a professor each choose a number between 1 and 8 (1 and 8 are both possible choices). What is the probability that the two choose the same number?
If you are told that a production possibilities curve is linear, what conclusion can you draw about resources? Explain.
The new management has identified several possible investments for the coming year. It has asked you and your team to evaluate the possibilities and make a recommendation to the board of directors. Jorge has identified two mutually exclusive opportun..
You are the manager of a business in a monopoly market with the following inverse demand function. In addition, assume your production technology is described by the total cost function.
If the top 1% of the students receive a $400 scholarship, what is the minimum score a student would need to score to receive the award?
Discuss the factors which influence demand and supply of the labour.
What is the point price elasticity of demand at a price of $70? What is the point price elasticity of demand at a price of $60?
One person using one computer can produce 11,000 typed pages per year, and the price per page for your service is $2. Depends on the costs and revenues above, which should you do. Elucidate and show any relevant calculations.
Should a nation's income be distributed to its members according to their contributions to the production of total income or according to the members' needs?
Bill gets utility from consuming food (F) and clothing (C) represented by the following utility function: U(F,C) = FC + F. The price of food is $1 per unit and the price of clothing is $2 per unit. Bill’s income is $22. Find the utility maximizing ch..
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