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The following table contains the probability distribution for X = the number of traffic accidents reported in a day in a small city in the Midwest: a) What is the probability of at least 1 accident?
b) What is the expected number of accidents?
c) What is the variance of the number of accidents?
d) What is the standard deviation of the number of accidents?
A company that sells annuities must base the annual payout on the probability distribution of the length of the life of the participants in the plan. Suppose that the probability distriution of the lifetimes of the participants is Normally distributed with a mean of 68 years and a standard deviation of 3.5 years. a) What is the probability that a plan recipient receives payments beyond age 75?
b) What is the probability that a plan recipientd ies before they reach the standard retirement age of 65?
c) Find the age at which payments have ceased for 86% of the plan participants.
The government will tax good for many reasons, resulting in a fall in equilibrium quality while the prices increase. Could someone explain how price controls and taxes have influenced your purchasing choices.
If imports of Brazilian ethanol begin to rise sharply in the future, what do you predict will happen to the size of the import tariff levied on this good?
an economy has the per-worker production function fk 10k0.4. the depreciation rate is d 0.05 and the labor force
Besides your pricing decisions, what are your suggested nonpricing strategies? What nonpricing strategies will you use to increase barriers to entry?
How do economists distinguish between the absolute and relative sizes of the public debt. Why is the distinction important Distinguish between refinancing the debt and retiring the debt. How does an internally held public debt
Consider a market for a homgeneous product with demand given by Q = 37.5 - .25P. There are two firms, each with a constant marginal cost equal to 40.
Why are these goals in conflict with each other? What is the relevance of the price elasticity of demand in determining which of the goals is likely to be most fully met? Why do you think excise taxes on gasoline, tobacco, and alcohol are common?
Assume the demand curve for car in the U.S. is Q=90-P, and the supply curve of car in U.S. is Q=2*p. The following questions would require the calculation of consumer surplus (CS), producer surplus (PS), government surplus (GS), and deadweight..
The unemployment rate in October 2008 reached a 14 year high at 6.5%. As of the end of 2008, the recession did not appear to be ending any time soon.
Suppose you are an executive director of the top management team of an American multinational.
Determine the current GDP growth rate for the United State? Analysis the trend over the last few years. What stage of the Business Cycle would the United State economy be in currently given the trends?
The problem is belongs to Economics, particularly to Macroeconomics and it is a review about the Asian financial crisis and the 2008-2010 global financial crisis finding out their differences and similarities with the roots causes for each of them..
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