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A recent internal report issued by the marketing manager for a national oil-change franchise indicated that the mean number of miles between oil changes for franchise customers is at least 3,600 miles. One Texas franchise owner conducted a study to determine whether the marketing manager's statement was accurate for his franchise's customers. He selected a simple random sample of 10 customers and determined the number of miles each had driven the car between oil changes. The following sample data were obtained:
3,655 4,204 1,946 2,789 3,555
3,734 3,208 3,311 3,920 3,902
a. State the appropriate null and alternative hypotheses.
b. Use the test statistic approach with a = 0.05 to test the null hypothesis.
A man is planning to retire in 20 years. He can deposit money for his retirement at 12% interest rate compounded monthly. It is estimated that the future general inflation (f) rate will be 4% compounded annually. Assume that his first withdrawal occu..
The inverse demand curve for sugar is P = 100−Q. There are two firms, C and D, who produce sugar. Firms produce sugar using a technology with a cost function characterized by C(Qi) = 20Qi where Qi is the quantity produced by each firm. What is the Be..
If all firms, existing and potential new entrants, face decreasing industry costs in the long run under perfect competition, the industry supply curve will: Necessarily be upward sloping
What if the ROE generated by the firm would equal 10%?
gdp per capita ppp current international for sub-saharan africa and uganda between the years 1980 and 2010.1. for
Suppose a utility function is of the general formU (x,y) where x and y are two goods consumed.
Compute the percentage change in price and quantity (%ΔP, %ΔQd) by adding this one room. Calculate the Price Elasticity of Demand.
The Apple company issues a coupon bond with the face value $1000, the coupon rate 7% and the maturity 10 years. If the interest rate is assumed to be fixed at 8%, what is the present value of the bond? Instead, people expect that the interest rate wi..
Mexico also which being free to pollute gives industries in Mexico an economic advantage over those in the U.S. also Canada.
What are some of the challenges they are going to face when they are lowering their costs?
“This company is so unfair! They obviously don’t care about their customers. They __________!” complains Cindy Consumer. (the blank could be filled in with statements like: Explain to Cindy why economists think her complaints are naïve.
Some of the production of an economy creates pollution illustrated by the move.
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