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A writer makes on average one typographical error every page. The writer has landed a 3 pg article in an important magazine. If the magazine editor finds any typographical errors, they probably will not ask the writer for any more material. What is the probability that the reporter made no typographical errors for the article? Use the Poisson distribution and round answer to 4 decimal places.
Frankie and Johnny can both earn a wage rate of $10 per hour and, coincidentally, both have $100 per week in non-labor income. Assume that both have T = 100 hours per week to allocate to leisure and work. Frankie chooses to work 40 hours per week. Us..
You have made arrangements to borrow $1,000 now and another $1,000 three years from now (End of Yr 3). The obligation is to be repaid at the end of four years. If the projected interest rates in years one, two, three, and four are 10%, 12%, 12%, and ..
If Cisco has a monopoly in the server market, what efficiency condition is violated? Would the regulation of Cisco and the elimination of Cisco
Explain and graphically illustrate how a two-part pricing strategy works when consumers all have identical demand characteristics. Clearly label on your graph the access fee, user fee, and the profits that the seller receives. What is true about the ..
Chief Executive Officer (CEO) Pay There are several possible methods for determining the pay of CEOs in large corporations.
Consider the BP oil spill that spawned a heavy public relations campaign after beaches were closed and wildlife was affected. write a two- to three-page paper that answers the following questions: Did BP use a proactive or reactive strategy? Explain ..
Explain President Obama’s reasoning and motivation for the recent tariff on Chinese tires. Evaluate this policy (graph the effects of a small country setting a tariff, and calculate surpluses before and after trade).
Suppose that U.S. debt is $100 trillion dollars at the beginning of the fiscal year. During the fiscal year, the government spending is $7 trillion and government transfers are $2 trillion and tax revenues equal $10 trillion. At the end of the fiscal..
Per the Kyoto Protocol, European countries have targeted a reduction of CO2 emissions. There are two main types of coal-fire plants in the EU: one type is designed to be able to be retrofitted with abatement equipment at a lower cost than the other t..
A monopolist faces a demand curve given by: P = 70 - 2Q, where P is the price of the good and Q is the quantity demanded. The marginal cost of production is constant and is equal to $6. There are no fixed costs of production. How much output shoul..
Suppose you are the owner-operator of a gas station in a small town. Over the past 20 years, you and your rival have successfully kept prices at a very high level.
If Tukey's HSD is computed to be HSD = 2.50, then which of the treatments are significantly difference?
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