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A sample of 2,000 licensed drivers revealed the following number of speeding violations. 0 violations for 1,910 drivers. 1 Violations for 46 drivers. 2 violations for 18 drivers. 3 violations for 12 drivers. 4 violations for 9 drivers. 5 or more violations for 5 drivers. Which totals out to 2,000. A) What is the experiment? B) List one possible event C) What is the probability that a particular driver had exactly 2 speeding violations? D) What concept of probability does this illustrate?
Assume a market with demand Q = 16p^(--2) that is supplied by a monopoly with costs C(Q) = 6 + Q2/8. 1. Calculate the equilibrium price, output and monopoly profits. 2. What
What are the comparative benefit The idea of comparative benefit defines that a nation must specialise in the industries in which it has a comparative advantage. Comparative be
with the help of a graph, explain factors that may cause a shift in the balance of payments
Explain the adjustment to the new equilibrium price from an increase in supply.
Illustrates about the terms of elasticity? • Definition of elasticity a. Price elasticity of demand b. Income elasticity of demand and c. Price elasticity of supply
What are the uses of time series data?
Q. What is Demand for money? Demand for money The demand for money depends negatively on R and positively on the Yin the IS-LM model As fo
Can growth arise without development? Growth is just one feature of development and therefore is an essential but not enough condition for economic development. For example, g
In 2004, Olentangy health care cost of capital was 6%. Its investments on a historical cost valuation basis are $80,000; on a replacement cost basis are $100,000. And on a current
how to calculate it
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