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Suppose the National Hurricane Center forecasts that hurricanes will hit the strike area with a .95 probability. a. What probability distribution does this follow? b. What is the probability that 10 hurricanes reach landfall in the strike area? c. What is the probability at least one of 10 hurricanes reaches land outside the strike area?
There are two types of farming tractors on the market, the FT250 and the FT500. The only difference between the two is that the FT250 is more prone to accidents than the FT500. At these prices, 2,000 of each model are purchased each year. What is the..
Stakeholder support is necessary for a successful change proposal project implementation. Consider your internal stakeholders, such as the facility
A large bakery buys flour in 25-pound bags. The bakery uses an average of 4,900 bags a year. Preparing an order and receiving a shipment of flour involves a cost of $10 per order. Annual carrying costs are $75 per bag. Compute the total cost of lordi..
Each potential bidder writes down a bid on a piece of paper. buyer with highest bid gets item and has to pay third highest bid. Is there dominant strategy equilibrium for this auction. Make sure you exhaust all possibilities.
Describe the growth of the economic role of the federal government since the 1930s. Give two examples of public goods or services that you use. If you could order a cut of $100 billion in federal spending, which programs would you cut and why would y..
What is the euro price of the Caddy? What is the dollar price of the Mercedes?
You are an aide for the Senate Banking Committee Chairman. He comes to you with a bill that proposes setting limits on what ATM owners can charge nonaccount holders, over and above what banks charge their own customers. The Senator asks you to look a..
The idea that immigration lowers the wages and employment of native-born workers is based on:
While specialization allows firms to produce many goods and services at lower production and transaction costs than individuals can, most households still produce some goods and services for themselves. Which of the following provides a reason for th..
How does government implementation of Keynesian fiscal policy seek to reduce fluctuations in the business cycle, and how does this view differ from economic thought prior to the Great Depression?
On a business trip, Mr. Pines is driving to meet with a prospective customer. Mr. Pines notices that the gas tank is almost empty. The"GasGun" app in his iPhone says the least expensive gas station is about 15 miles away. A gas station closer to his ..
Thoreau has preferences for consumption goods (C) and time spent on leisure (L). The utility function is u(C, L) = CL. The household also has a home production technology summarized by a production function. How much time will Thoreau spend in leisur..
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