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Suppose there are 55 students in your ISyE class. Suppose that for any given student, the probability that the student was born on January 1 equals 5/365 ; the probability that the student was born on December 31 equals 3/365 , and for each of the remaining 363 days of the year, it is equally likely that the student was born on any one of those days. What is the probability that all of the students have the same birthday?
Senior management at the LCB Watercraft (LCBW) company would like you to help pick the mix of products they should produce and sell – this involves determining the production quantities for each model. LCBW always has a contingent of 10 workers on ha..
In the 1990s and early 2000s, Japan's central bank reduced real interest rates to zero percent, but investment spending did not respond enough to bring the economy out of recession. Japan's experience is an illustration of: Athe crowding-out effect. ..
For this assignment you need to evaluate one idea and how you would implement your stimulus strategy. Food for thought
When there is a lack of competition, you will find that market prices are going to be higher.
Consider the following demand curve, Qd = 100 – 2P and supply curve Qs = 8P-120. Find the equilibrium price, quantity, and producer surplus. In turns out that the production of the firm causes pollution. The Marginal Social Cost curve, Qs = 8P – 200...
Suppose the firm is operating in a high-wage country, where capital cost is $100 per unit per day and labor cost is $80 per worker per day. For every level of output, which technology is cheapest.
A drought in California destroys many grapes. As a result of the drought, what happens to the consumer surplus in the market for grapes and to the consumer surplus in the market for red wine? Draw the necessary graphs to represent this scenario and t..
Illustrate what is OPEC's optimal level of production? Illustrate what is the prevailing price of oil at this level.
One aspect of obtaining a college education is the prospect of improved future earnings in comparison to non-college graduates.
Use a simple sketch to show the location of T5S, R6E. Appropriately label the principal meridian, base line, and each of the range and township lines in the sketch. Use a simple sketch to show the location of the parcel described as ”the NW ¼ of the ..
How do these things affect the U.S market of foreign-currency exchange and on net capital outflow (NCO): A tax reform that imposes higher capital gains tax to Americans involved in offshore banking?
Suppose you are receiving a large shipment of Gizmos. The manufacturing standards provide that 1% of Gizmos turn out defective. You randomly select a sample of n = 25 from each lot and return the shipment if more than 2 are found defective. The proba..
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