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Reliability using normal distribution
Assume you tested svereral Firestone tires and recorded their failure times (as defined by an engineer).After doing a Chi-Square test ,you decided taht failures are normally distributed ,with mean failure of 50,000 miles and a standard deviation of 10,000 miles .Determine the following:
a) reliability of the tires at 40,000 miles
b) given that a tire has been driven (on a test machine) 20,000 miles, determine its reliability at 60,000 miles.
Assume that the soft coal industry is a competitive industry and it is in long run equilibrium. Now assume that the firms in the industry form a cartel.
Assume the new leadership in Congress decides to repeal some of the tax breaks granted to large businesses during the past several years.
Dell Electronics just stumbled upon a new supplier of personal computer (PC) circuitry in Costa Rica that can supply standardized computer inputs at $70 per PC.
Which of the following strategies are used by businesses to capture consumer surplus? Nash equilibria are stable because
Fill in the missing data for price (P), total revenue(TR), marginal revenue (MR), total cost (TC), marginal cost (MC), profit (π), and marginal profit (Mπ) in the following table:
How would each of the following affect the firm's marginal, average, and average variable cost curves?
True/False: For each of the following concepts, decide whether it's true or false, and briefly explain why (2-3 sentences). You can also use diagrams if they are helpful. Each correct answer is worth.
Suppose that yi receives $ 60 per day as interest on inheritance and her wage is $25 per hour, and she can work a maximum of 16 hours per day at her job. draw her daily budget constraint.
Suppose that you believe that the average rate of inflation over the next 20 years will be 3.5 percent. Would you by the nominal or the inflation-indexed bond?
Milton Friedman faiths in a steady growth monetary policy. Illustrate what does that mean and critique this approach.
Suppose in country Triniland employers are required to pay overtime at 50% above the normal wage rate for workers who work beyond 8 hours a day.
What distinguishes money from other assets in the economy? What are demand deposits, and why should they be included in the stock of money?
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