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N people order a single donut from a shop at an average rate rate of 400 people per week. We also know that N is poisson distributed. Each person who orders a single donut, independent of each other, with probability 0.20.2, orders a vanilla dip donut with rainbow sprinkles. Obviously the best donut invented.
Let XX be the number of people that order vanilla dip donuts with rainbow sprinkles in a week.
Derive the PMF of XX.
Give an example of an opportunity cost someone might make. What is the benefit, profit, or value of choosing this opportunity cost might be for this person.
Suppose that they are negotiating with two non-drowsy allergy drugs, Claritin and Allegra, for inclusion on the formulary. The "value" or "surplus" created by including one non-drowsy allergy drug on the formulary is $100, but the value of the second..
Because of the decreasing labor force participation rate of youths and the prime age group, the overall labor force participation rate is expected to decline. The participation rates of older workers are projected to increase, but remain significantl..
The city of Sheffield, England, has long been associated with the manufacture of high-quality steel and steel products. A Sheffield thwytel [knife] was even mentioned by Chaucer back in the 14th century.
Explain why do the Average Variable Cost curve and the Average Total Cost curve become closer as the quantity increases.
If the projects are not mutually exclusive, but the budget is $40K, which one(s) should be done? Why? What is the minimum attractive rate of return?
The following graph shows the daily market for jeans when the tax on sellers is set at $0 per pair. Suppose the government institutes a tax of $5.80 per pair, to be paid by the seller. (Hint: To see the impact of the tax, enter the value of the tax i..
Given the following data, compute your combined income tax rate (CTR) assuming you deduct allowable expenses on yourincometax forms
Define the opportunity cost of getting your degree by analyzing what steps and economic factors a potential student must make when choosing to pursue an education. Given your answer, is getting a formal college education worth your opportunity costs?..
George, who owns and runs Tots Poses, expects to encounter an average of eight customers per day, each with a reservation price shown in following table. What are total revenues, average revenues and marginal revenues
If the government of a country imposes trade restrictions on the import of a certain good, the country will gain a comparative advantage.
Sam purchased a five-year Treasury note with a $1,000 face value and a 7.5% coupon rate. Using the Excel spreadsheet, calculate the coupon payment Sam receives if he purchases a five-year Treasury note. To do this, first enter the appropriate coupon ..
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