Uniform continuous distribution

Assignment Help Microeconomics
Reference no: EM13694584

The number of donuts a 9 year old child eats in a month is between .5 and 4 and follows uniform continuous distribution.

a. find the probability that a 9 year old child eats more than 2 donuts.

b. find the probability that a 9 year old child eats more than 2 donuts given that he/she has already eaten more than 1.5 donuts.

c. find the probability that one 9 year old child eats more than 3 donuts and another 9 year old eats less than 1 donut. Please be explicit about any assumptions you make.

d. on average, how many donuts with a 9 year old eat?

Reference no: EM13694584

Questions Cloud

The pervasive problem of scarcity means : The pervasive problem of scarcity means that every society must choose among alternative uses of its limited resources. Society has only so much labor, capital, land and entrepreneurship that can be used to satisfy the unlimited wants of its members.
What can cause a rise in interest rates : In the market for loan able funds, what can cause a rise in interest rates?
What number of passengers will maximize profit : A major airline estimates that the demand and marginal revenue functions for first class and excursion fares from New York to Paris are: First Class: P = 4,200 – 2Q MR = 4,200 – 4Q Excursion: P = 2,200 – .25Q MR = 2,200 – .5Q If the marginal cost of ..
Minimax regret rule and equal probability rule : Under what conditions should a manager use each of the following rules/options for pricing decisions: (a) Maximax Rule; (b) Maximin Rule; (c) Minimax Regret Rule; and (d) Equal Probability Rule? Also address the potential pitfalls of using each rule.
Uniform continuous distribution : The number of donuts a 9 year old child eats in a month is between .5 and 4 and follows uniform continuous distribution.
Suppose the production function of a firm : Suppose the production function of a firm is Q=100k^1/2 L^1/2. the corresponding long run cost curve was found to be TC=(Qw^1/2r^1/2)/50. Use this information to verify that Shephard's Lemma works when deriving the input demand functions.
Perfectly competitive firm is zero-profit equilibrium : The long-run equilibrium for a perfectly competitive firm is zero-profit equilibrium. Does this mean that owners of these firms have no income? Explain.
How can big data impact an organization : What is an example of big data either from your personal experience or outside research? How can big data impact an organization?
The growth of businesses such as coin star : The growth of businesses such as Coin star that convert coins into bank notes or gift cards caused money to ____ and the actual money multiplier to ____, ceteris paribus.

Reviews

Write a Review

Microeconomics Questions & Answers

  Find the cournot-nash equilibrium

Find the Cournot-Nash Equilibrium. Calculate the profits of each firm at this equilibrium.

  According to standard keynesian economic theory

According to standard Keynesian economic theory, an increase in government spending has a greater impact in terms of increasing the level of aggregate income--that is, is more "simulative"--if it is:

  Cultural differences on ethical issues

Globalization is inevitable and will continue to occur in the years to come. As organizations continue to globalize, cultural differences on ethical issues will continue to arise.

  Daw the production function related with table above note

consider a firm that has the following relationship between labor and output i.e. a production function.nbsp along

  Knowledge of economic theory

Knowledge of economic theory to describe how these policy responses were expected to reduce the health hazards of alcohol consumption in the community.

  Two centuries ago there were more buffalo than cattle

Two centuries ago there were more buffalo than cattle in the United States. Even though millions of cattle are killed for beef consumption each year, the cattle population continues to grow while the buffalo are virtually extinct. Why?

  What is the underground economy

What is the Underground Economy? What effect, if any, does the Underground Economy have on the entire economy? Is it positive, negative, or has no effect?

  Examine the determinants of price elasticity of demand and

analyze the determinants of the price elasticity of demand and determine if each of the following products are elastic

  Price discrimination to maximize profits

How does knowledge of value elasticity between different groups of consumers or for several products enable managers to price discriminate, change different prices for these groups?

  How starbucks could mitigate

create an alternative capital budgeting scheme that Starbucks could have realistically used in its acquisition. Be sure to discuss the risks, and how Starbucks could mitigate these risks, in your analysis.

  1 consider a demand curve of the form qd20-2p also consider

1. consider a demand curve of the form qd20-2p. also consider a supply curve of the form qs2p-4. graph both curves

  Open the microsoft excel workbook interactive model

open the microsoft excel workbook interactive model economics.xls.on the first tab you will see a figure similar to

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd