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Suppose you are working for a regional residential natural gas utility. For a sample of 90 customer visits, the staff time per reported gas leak has a mean of 206 minutes and standard deviation 32 minutes. The VP of network maintenance hypothesizes that the average staff time devoted to reported gas leaks is 216 minutes.At a 10 percent level of significance, what is the lower bound of the interval for determining whether to accept or reject the VP's hypothesis? Note that the correct answer will be evaluated based on the z-values in the summary table in the Teaching Materials section. Please round your answer to the nearest tenth. Note that the correct answer will be evaluated based on the full-precision result you would obtain using Excel.
A producer’s production function is q=6K^(1/3)L^(1/2). The market price for the firm’s output is p, the cost of capital is $4 per unit used and the cost of labor is $3 per unit. Write an equation for the firm’s long-run profit. Find the factor demand..
A manager of a clothing firm is deciding whether to add another factory in addition to one already in production.
Assume the demand function for good x can be written as Qd = 80 - 3Px + 2PY + IOI, where Px is the price of x, py is the price of good y, and I = consumer income. According to this equation; 1. Because the coefficient on the px is negative, x is an i..
How can your company look for a new market spaces outside its own industry - Why should your company consider deconstructing
If you know the slope of the AE curve is .80, then you can complete the schedule below. Do so. Hint words: Linear relationship Income Aggregate Expenditures (C + I + G) $1300 $1700 $2300 $2500 $3300 _____ $4300 _____ $5300 _____ $6300 _____ Draw this..
Small minimum efficient scale in assembly operations indicate high or low entry threat in the PC business
Suppose a handbill publisher can buy a new duplicating machine for $2000 and the duplicator has a 1-year life. The machine is expected to contribute $2200 to the year’s net revenue. Instructions: Round your answer to the nearest whole number. a. What..
The market demand function is Q=80-p. Describe the profit maximizing input use, the output price, and the monopolist's profit.
Come up with one research question (say for an honors thesis or long paper) based on the video Mind over Money. Explain what your question is, and why it is an
When the country trades, its consumption possibilities now has an absolute slope of 3, because it has a comparative advantage in producing coffee
Suppose you are the head of the central bank and your mandate is to maintain the price level at a constant value. Explain what you would do to the money supply in response to each of the following events:
The natural environment poses a problem for economic theory. Even if we accept, for the sake of argument, that the free market serves employer and employee, buyer and seller, equally, the environment may be harmed by market transactions.
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