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An internal study by the Technology Services department at Lahey Electronics revealed company employees receive an average of four e-mails per hour. Assume the arrival of these e-mails is approximated by the Poisson distribution.
(a) What is the probability Linda Lahey, company president, received exactly one e-mail between 4pm and 5pm yesterday?
(b) What is the probability she did not receive any e-mail during this period?
(c) What is the probability she received ten or more e-mails during the same period?
The price elasticity of demand for fresh tomatoes has been estimated to be 2.22. If a new insecticide and fertilizer treatment yields a 20% increase in the nation's fresh tomato crop, how will that affect total revenue from fresh tomatoes, all oth..
Commuters from the West Bank, across from New Orleans, are identical. They have two routes from the West Bank to Uptown, either over the Crescent City Connection (C) or over the Huey P. Long Bridge (H).
Suppose that when the price of beef is $10/kg, the daily quanity of beef sold in Tesco, a British Grocery store, is 10,000 kg. Suppose further that if the price of beef rises to $12/ kg, the amount of beef falls to 8000 kg.
Bundling is not always superior to offering (and pricing) items separately. Consider a telecommunications firm that offers both phone service and high-speed internet. It has two consumers (named Talker and Surfer) who differ in the willingness to ..
How much money will you choose to spend on fireworks, and how much on beer (Since more of everything is better, your budget constraint will hold with equality, or f + b = 50; one way to solve this, then, is to plug in 50 - f for b, and find the va..
Domino Sugar Is considering the purchase of Fisher Honey Co. for $100 million. Based on information obtained from 500 supermarkets around the country, when 1 lb. of Domino Sugar went o sale from $2.00 to $1.50,
when the price of good x falls Rs 10 to Rs 9,the demand for good y increase from 20 kg to 25 kg. A) what is the cross elasticity of demand of good y for good x
Bill Mitselfik borrowed $10,000 to be repaid in quarterly installments over the next five years.The interest rate he is being charged is 12% per year compounded quarterly. What is his quarterly payment
Calculate GDP loss, governemnt expenditure needed to eliminate this loss, and the amount of tax cut needed to eliminate this loss if full employment GDP is $400 billion dollars, unemployment rate 8.9%, and the MPC is 0.8.
Suppose that college students in your tow persuaded the town council to enact a law settings the maximum price for rental housing at $400 per month. Will this help or hurt college students who rent housing In your answer, address how this price ce..
Calculate autonomous expenditute. b. Calculate the marginal propensity to consume. c. What is aggregate planned expenditure when real GDP is 200 billion pounds d. If real GDP is 200 billion pounds, what is happening to inventories
You are the city engineer and are negotioating with a land developer. The developer wants water service to a new development and you report that service can be completed this year by city crews at a cost of $200,000
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