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Let X be a continuous random variable. Suppose that we know that Pr(X < 5) = 0.35. What is Pr(X > 5), and how do you know? (Hint: X is not necessarily normally distributed, but you can still consider how much area is under the curve, no matter the shape of the curve.)
Explain how a manager would avoid having espoused reality enter into his or her department. Include a discussion on the tools they could use, would department meetings help.
The market for a pack of 12 golf balls has been described by the following supply and demand functions: Depict this on your demand and supply diagram. (Hint: the new tax inclusive demand function will be: P = 91 – 5Q) What is the new market equilibri..
Before the war, Iraq had the capacity to produce a certain amount of oil from its oil wells. After the war, it found that capacity greatly diminished because the oil wells were on fire. Draw Iraq’s PPF before and after the war, assuming that the only..
Consider two countries Frugalia and Prodigalia (we can call F and P). In both countries the production function is Cobb-Douglas: Y=A*(K^0.5)*(N^0.5). The population growth rate is 0.2, physical capital depreciates at the rate of 0.3, and A = 10. In F..
Also, Dean has a substantial amount of money saved up. Would Dean benefit from high inflation or low inflation? Explain your answer.
Many security suites exist for Windows computers, not only in the form of third party firewall software, but also in anti-virus utilities.
A trucking company computes depreciation on its vehicles by a mileage basis. Suppose a delivery truck has a cost of $20,000, a salvage value of $2,000, and an estimated useful life of 200,000 miles. Determine the depreciation rate per mile.
How might oligopolistic increase total revenue without changing prices.
Suppose further that the consumerâs income increases to $60. Show how the budget constraint changes graphically.
One person using one computer can produce 11,000 typed pages per year, and the price per page for your service is $2. Calculate the following three options. You have opened your own word processing service.
More tax revenue is raised if a tax is collected from consumers. More tax revenue is raised if a tax is collected from producers. The equilibrium price after a specific tax will depend on whether the tax is collected from consumers or producers. The ..
Calculate the midpoint price elasticity of demand between $9 and $10. Is the demand in this range elastic or inelastic? Calculate the midpoint price elasticity of demand between $10 and $11. Is the demand in this range elastic or inelastic?
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