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Strong earthquakes occur according to a Poisson process in a metropolitan area with a mean rate of once in 50 year. There are three bridges in the metropolitan area. When a strong earthquake occurs, there is a probability of 0.3 that a given bridge will collapse. Assume the events of collapse between bridges during a strong earthquake are statistically independent; also, the events of bridge collapse between earthquakes are also statistically independent.
What is the probability of "no bridge collapse from strong earthquakes" during the next 20 year?
The price elasticity of demand for long-distance call.
NMTeX Oil company owns several gas wells in Carlsbad, NM. Income from the depleting wells has been decreasing according to an arithmetic gradient for the past five years. If the income in year 1 from well no. 24 was $390,000 and it decreased by $..
(1) Suppose a store is located in the middle of Main Street, which is one mile long. Marginal transportation cost is given by t=$80 per mile round trip. The average production cost of the product sold is given by c=$32. Customers value each un..
What would happen to QH buildings or offices? How would you implement that change? What would happen to the brands? To the menu? To the customer and etc.
What is the value of prototyping in project
U.S. growth: On page 50, we noted that the growth rate of per capita GDP in the United States between 1870 and 1929 was slightly lower than 2.0%.
Does anyone have an incentive to maintain auto-exhaust control devices in good working order? How can we ensure that they will be maintained?
During the Great Depression, food was left to rot in the fields or fields that had once been actively cultivated were left fallow.
Microeconomic Scenario: show how the Circular Flow model works in your personal life. You are the Household, and Businesses represent both a company.
Draw short run firm and industry competitive equilibrium for a perfectly competitive gator-farming industry before the number of alligator farms in Florida doubled. For simplicity, assume the gator farm is earning zero economic profit.
A random sample of five observations from the first population resulted in a standard deviation of 12. A random sample of seven observations
Salesman for the ABC plastics company drive an average of 240 miles per day with a standard deviation of 36 miles. if samples of 25 daily mileages are taken what is the standard deviation of the distribution of sample means?
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