Expected value of demand for paint, Macroeconomics

Assignment Help:

Each Home Depot store must decide how much paint to order each month. From historical records, they know that the amount of paint they sell during May is distributed as follows: there is a 12% chance demand will be 710 gallons, a 20% chance that demand will be 980, a 38% chance that demand will be 1400, and otherwise, demand will be 1800 gallons. What is the expected value of demand for paint? (please express your answer using 2 decimal places).


Related Discussions:- Expected value of demand for paint

Joke among economists, There is a joke among economists that children are a...

There is a joke among economists that children are an "inferior good." In many countries there appears to be a negative relationship between income and the number children in a hou

Marginal product of labor and capital, We define marginal product of labor,...

We define marginal product of labor, MP L as the derivative of f with respect to the L - which is, as (approximately) how much Y will increase when L increases by one unit. We als

Real output, SUppose nominal GDP increases from 5.8 trillion to 6 trillion....

SUppose nominal GDP increases from 5.8 trillion to 6 trillion. The GDP deflator rose over that same year by 3.9 percent. By what percent does the real output increase?

U.s. employers have strongly opposed, U.S. employers have strongly opposed ...

U.S. employers have strongly opposed a corporatist agenda, under which employment relationships would be jointly governed by unions, employers, and government. This orientation has

Unemployment, critically analyse the ways at which the govement of zimbabwe...

critically analyse the ways at which the govement of zimbabwe has put in place to address unequal employment opportunitiesbetween men andwomen

Utility maximisation - graphical presentation , Utility Maximisation: ...

Utility Maximisation: Graphical Presentation  Let consider a two-commodity world, x 1 and x 2 representing good I and good II respectively. p 1 and p 2 are the prices o

Draw a typical frap curve and explain its different regions, 1. Describe th...

1. Describe the process of diffusion in cells (not more than 2 pages). 2. Derive the equation for Fick's second law. 3. Draw a typical FRAP curve and explain its different re

Calculate the monetary policy multiplier, Consider the following macroecono...

Consider the following macroeconomic model: Y = C + I + G + NX C = 100 + 0.8 YD I   =  300 - 1000 i NX =  195 - 0.1 Y - 100 (E.R.) E.R. =  0.75 + 5 i M  =  ( 0.8

Describe how price level evolves over time, Describe how price level evolve...

Describe how price level evolves over time Using the time series we can study how price level evolves over time. If all prices rose by 2% during one month, price level would ri

Consumption , . (40 points) Consider two consumers, A and B. A and B both w...

. (40 points) Consider two consumers, A and B. A and B both want perfect consumption smoothing (c = cf) and both have no current wealth. However, the two consumers have different i

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd