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An airline serves bottles of Galena Spring Water that are supposed to contain an average of 10 ounces. The filling process follows a normal distribution. In a sample of 12 randomly chosen bottles, the mean weight was 10.016 ounces and the standard deviation was 0.059 ounces. Test whether there is a quality control violation using α = 0.05.
Purchasing a Milling machine will cost $95,000. Installing the machine cost $15,000. Installiation and milling machine cost go together. Special tools that need purchasing cost $10,000. The Milling machine has a lifetime of 10 years. Determine the ca..
Bayou Sans Espoir, LA, has been experiencing a mini-recession because of the significant decline in crude oil prices and cuts in state subsidies to its crawfish packing plant. As a result of falling oil prices, the oil companies operating in Bayou..
Most labor economists believe that the supply of labor is..
Discriminating monopolists are able to charge different prices to different customers. In fact, a perfectly discriminating monopolist is able to charge.
Suppose Ann's marginal rate of substitution between good y and good x is -2. Bill's marginal rate of substitution between good y and good x is -3. each consumer has 10 units of each good. Propose a trade between Ann and Bill that would make each cons..
comparing investment criteria mario brothers a sport producer has a new idea for an exploration sport. it can market
Suppose a country has a national debt of $5,000.0 billion, a GDP of $10,000.0 billion, and a budget deficit of $100 billion. How much will its new national debt be? Compute its debt-GDP ratio. Compute its new level of national debt and its new debt-G..
Suppose you are in charge of monetary policy. Assume your goals are a full employment level of production with price stability. Assume further the economy has excess capacity with unemployment at 7.8% (the natural rate is 5.2%), but you are concerned..
A patient goes under the knife and will either die right after surgery, survive for 1 year, or survive for 2 more years. Assume that the probability of surviving for a year is 60% and surviving for 2 years in 30%,
Some, like Santander, have quietly expanded into or business lines; its consumer-credit division is Europe's biggest car financier. What is next.
Explain why is economics to an understanding of the problem of development. Why is an understanding of development crucial to policy formulation in developing nations.
You are the commissioner of the National Hockey League. You have been called to testify at an antitrust case against the NHL. Argue that (a) the NHL is not a monopoly and (b) even if it is a monopoly, it is a natural monopoly. Be sure to carefully ex..
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