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Let X be the random variable with mean 10 and standard deviation 4 and Y be the random variable with mean 6 and standard deviation 2.
Find the followings:
a). E(X + 2Y )
b).E(4Y - 3X)
c). E(X2 )
For the following parts, suppose X and Y are independent.
d). V ar(-2Y )
e). V ar(X + Y )
f). V ar(2X - 3Y )
g). SD(X - Y )
h). SD(3X + 4Y )
Small manufacturing company borrowed $1 million and repaid the loan through monthly payments of $20,000 for 2 years plus a single lump sum payment of $1 million at the end of 2 years.
Good People is currently selling beer for $3 per pint. The marginal cost of a pint is $.50. If we raise the price of the beer to $5, what percentage of customers must be maintained to ensure Good People at least stays even with the proposed price inc..
How would this change the consumer and producer surplus? Suppose a price floor of $16 was imposed. How would this change the consumer and producer surplus?
Explain the role culture may play in influencing entrepreneurship both at the individual and social level. Define culture in your response.
What happens to the income of a factor of production when it becomes more mobile? Other things being equal, would the income to the owners of this factor rise or fall? Why?
There are two existing firms in the market for computer chips. Firm A knows how to reduce the production costs for the chip and is considering whether to adopt the innovation or not. Innovation incurs a fixed setup cost of C, while increasing the rev..
Fed Up documentary focuses on the causes of obesity. The film suggests that the main causes of obesity are processed foods and added sugars.
You are the father or mother of a family of four (kids ages 13 and 15) planning a weekend camping trip. Develop a responsibility matrix for the work that needs to be done prior to starting your trip.
The Mechanical Engineering department has a student team that is designing a formula car for national competition. The time required for the team to assemble the first car is 174 hours. Their improvement (or learning rate) is 0.8, which means that as..
Consider the market for interior painters. The demand curve for painters is L = 19 – w, and the supply curve is L = 4 + 2w, where L is the number of painters and w is wage. Find the equilibrium wage and number of painters in this market. Graph your w..
ASW Publishing, Inc., a small publisher of college textbooks, must make a decision regarding which books to publish next year. The books under consideration are listed in the following table, along with the projected three-year sales expected from ea..
shutdown point case average variable cost market price lt average total costnbspif the market price in the above
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