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A recent article in the Cincinnati Enquirer reported that the mean labor cost to repair a heat pump is $90 with a standard deviation of $22. Montes plumbing and Heating Service completed repairs on two heat pumps this morning. The labor cost for the first was $75 and it was $100 for the second. Assume the distribution of labor costs follows the normal probability distribution. Compute Z values for each and comment on findings.
Discuss the problems of measuring productivity in actual work situations. Also how productivity might be measured for each of the following industries? Finance and insurance (examp
types of production function models
Suppose the US and Mexico both produce semiconductors and auto parts and the US has a comparative advantage in semiconductors while Mexico has a comparative advantage in auto parts
is/lm curve
Q. Determine the Exchange rate? Exchange rate is determined by the ratio of domestic price level to the foreign price level. If, for instance domestic prices increase by 10% wh
What are long run and short run? Long run: It is the time period wherein all inputs cannot be fixed. Short run: It is the time period within which at least one in
What is The law of comparative advantage The law of comparative advantage, though, suggests that it would be unwise of UK economy to try to replicate German model. First German
Q. Explain IS curve with inflation? The IS curve with inflation We can draw IS curve for a given value of π e . As earlier explained, IS curve isn't affected by changes
Half the members of a fishing tribe catch four fish per day and half catch 10 fish per day. A group of 10 members could build a boat for another tribe in one day and receive a paym
From stock and Watson 3rd edition introduction to econometrics Using the data set Teaching Ratings described, carry out the following exercises. a) Run a regression of Course
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