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The diameter of Ping Pong balls manufactured at a large factory are approximately normally distributed with a mean diameter of 1.30 inches and a standard deviation of .04 inches. Use Excel to calculate the probability of each of the following occurring (document your work). You randomly select...
I want to know what is the importance of excel? Isn't the calculations and the understand of the answer you get and how you interpret it the most important?
You are considering buying a new house, and have found that a $200,000, 30-year fixed-rate mortgage is available with an interest rate of 6 percent. This mortgage requires 360 monthly payments of approximately $1,179 each. If the interest rate rises ..
Explain, using the isoquant-isocost diagram, why a rise in the rental rate of capital coupled with no change in the wage rate will lead to a rise in the price of the capital-intensive good relative to the price of the labor-intensive good.
What are the characteristics of a "public good"? Why is it difficult for a private company to provide a public good?
When Lisa was 16 years old, she bought a pedigree dog on credit for $1,200. While Lisa was a minor she made numerous payments on the contract price for the dog. The dog has now contracted a serious illness. Can Lisa avoid the contract and why? If so,..
Suppose you work for a national statistical agency and are asked to set up a program to collect data on and compute a consumer price index.
If you could create the "perfect" society that protects its citizens yet fosters personal growth and help them be productive, what will it look like? For this paper design your own society based on the above ideas and explain why you think it is the ..
After watching the NBC Learn video clip Some U.S. Businesses Profit from a Falling Dollar , consider who benefits and who gets hurt from a falling (depreciating) currency. What factors influence the value in a currency? Use real-world examples to hig..
The following relations describe demand and supply. Find the market clearing (equilibrium) price and quantity and show them graphically using S and D curves. A free hand graph will do as long as you identify clearly market clearing P and Q. Calculate..
Crepe Creations is considering franchising its unique brand of crepes to stall-holders on Hermoza Beach, which is five miles long. CC estimates that on an average day there are 1,000 sunbathers evenly spread along the beach and that each sunbather wi..
What is happening to the economy today? What is the inflation rate? What is the unemployment rate? Is RGNP rising or falling? Use the resources of your library.
The 10 economic forecasters of a random sample were asked to forecast the rate of growth of the real gross national product (GNP) for the coming year. Suppose the probability distribution of the r.v.—forecast—is normal. The probability is 0.10 that t..
Explain how changes in monetary policies can affect one or both of these measurements (AD and AS).
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