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N people order a single donut from a shop at an average rate rate of 400 people per week. We also know that N is poisson distributed. Each person who orders a single donut, independent of each other, with probability 0.20.2, orders a vanilla dip donut with rainbow sprinkles. Obviously the best donut invented.
Let XX be the number of people that order vanilla dip donuts with rainbow sprinkles in a week.
Derive the PMF of XX.
A consulting firm conducted a random survey of community residents, describing a planned riverside park and then asking each respondent the question: “What is the most that you would be willing to pay to have this park built along the river?” Do you ..
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A recessionary gap occurs when. Crowding out refers to the. In the aggregate supply and demand? model, short run equilibrium is.
Stacey and Betsy are contestants on a game show. They each select a wrapped box from four choices. They know that one box contains $100 and the other three boxes contain $1000, $10000, $100000. Stacey agrees to trade. Did Betsy’s husband give her goo..
Is there any range of production characterized by scale of economies. At Illustrate what production level are scale economies exhausted.
During 2003, we began to stop worrying that inflation was a problem. Instead, we began to worry about deflation, a decline in the price level. Assume that the Fed decided to hold the money supply constant. What impact would deflation have on interest..
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Suppose market demand for oranges is given by QD = 40 - 2P where QD is quantity demanded and P is the market price. Market supply is given by QS = 4+P where QS is quantity supplied and P is the market price. Equilibrium price is 12 and quantity is 6...
Discuss the influence the decision-making process had on the outcome. Evaluate the effectiveness of the process. What stages were most challenging and why?
Average inflation rates tend to be higher in countries that have relatively weak judicial systems and property rights (remember chapter 1 and the importance of secure property rights?). Why do you think this is the case? Would you expect these countr..
Compute the price, output, and profit contribution if the product is not certified.
What quoted rate does Thames have to offer in order to produce the same effective interest rate as offered by? Piccadilly?
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