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1.) 11% of a large population are color blind. An SRS 150 from that population is selected.
a.) Using the normal approximation to sample sample count given in the formulae above, find the approximate probability that 30 or more people in the sample are color blind.
Suppose your retirement account has a balance today of $25000 and you are 20 years old. If you are invested in a diversified portfolio of stocks, you might hope that the historical return of about 6% continues into the future. Plot your retirement ac..
Calculate the returns to scale, marginal productivity, and state which of the functions defines a convex feasible region over their entire usage?
Which in turn depends on the animal's access to grazing which depends on the number of llamas sent to the commons.
Assume that the market for wheat is perfect competitive, with demand curve P = 5000 ? 0.01QD and a supply curve P = 1+0.1QS. Each identical wheat producer has a total cost curve given by TC = 1+Q+Q2 , which results in marginal cost of MC = 1+2Q. What..
What is the equilibrium quantity and equilibrium price for the following demand and supply curves: Calculate consumer and producer surplus in this market.
Explain why it is not possible for one agent to have a comparative advantage in all goods, a worked example with calculated values would be useful.
A monopolist estimated that the own-price elasticity of demand for its product is -4.5 and its advertising elasticity of demand is 1.5. Assuming these elasticities are constant, what fraction of the firm's revenues should the firm "reinvest" in adver..
Given your answer, what is the level of output that maximizes profits. Lastly, calculate the level of profits at the profit-maximizing level of labor and output given that capital is fixed at 81 units.
Suppose a consumer consumes two goods, X and Y. The slope of the budget constraint equals the a. relative price of the two goods. Government vouchers to purchase food, also known as food stamps, are an example of
A country's real GDP is growing at an annual rate of 3.1 percent, and the current rate of growth of per capita real GDP is 0.3 percent per year.
Elucidate what is the minimal compensation t that induce the buyer to accept the exclusivity contract. What is the maximal compensation that the monopolist is willing to o er to the buyer.
Develop a console program that simulates a section of a restaurant menu. Each item will have a different price and your program should define at least ten (10) items. You will need to obtain an order from the user who should provide their menu sel..
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