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Suppose that you are in a class of 32 students and it is assumed that approximately 18% of the population is left-handed. (Give your answers correct to three decimal places.)
a) Compute the probability that exactly five students are left-handed.
A recent study by Ohio State University (March 5, 2008) suggests that students with cell phones may take more risks than students that do not have cell phones.
Is the income elasticity of demand for real cash balances significantly different from one?
A light-bulb manufacturer advertises that the average life for its light bulbs 900 hours. A random sample of 10 of its light bulbs resulted in the following lives in hours. At the 10% significance level, do the data provide evidence that the mean ..
A manufacturer of a new, less expensive type of light bulb claims that this product is very well made and even more reliable than the higher priced competitive light bulbs.
While grading in a final exam, an economics professor found that two students have virtually identical answers. She is convinced two cheated but cannot prove it.
he two leading United State manufacturers of high performance radial tires must set their advertising strategies for coming year. Each company has two strategies available:
Assume that JVC is trying to decide how to rate a new stereo system composed of a receiver, CD player, & speakers. The firm's economists have estimated that 2-different groups will buy these products
A public relations intern realizes that she forgot to assemble the consumer panel her boss asked her to do. She panics and decides to randomly ask (independent) people if they will work on the panel for an hour.
Suppose you and your classmate are assigned a project on which you will earn one combined grade. You each wish to receive a good grade, but you also want to avoid hard work.
Suppose you are planning entering a market serviced through a monopolist. You currently receive $0 economic profits, while monopolist receives $5.
Suppose that the MBA education industry is constant cost and is in long run equilibrium. Demand raise, but due to strict accreditation standards, new companies are not allowed to enter the market.
Test the hypothesis that random variable 30.4 31.2 30.8 29.9 30.4 30.7 29.9 30.1 come from a normal distribution with mean 30.5. The standard deviation of the measurements is known to be 0.1
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