### Find the mean and variance of these incomes

Assignment Help Microeconomics
##### Reference no: EM131025600

Annual incomes for heads of household in a section of a city have approximately a gamma distribution with α = 20 and β = 1000.

a Find the mean and variance of these incomes.

b Would you expect to find many incomes in excess of \$30,000 in this section of the city?

c Applet Exercise What proportion of heads of households in this section of the city have incomes in excess of \$30,000?

#### Compute the effective annual interest rate

Compute the effective annual interest rate 10% nominal interest compounded semiannually, 10% nominal interest compounded quarterly, 10% nominal interest compounded weekely.

#### Define wage rate

a. What is the wage rate paid to apple pickers? b. How many apple pickers have been hired? c. If the demand for apples increases, resulting in 100 more apple pickers per day

#### Determine your position utilizing two subjects

Determine your position, utilizing two subjects from those you select below, which you will initially defend. 1) Advocate for the position and 2) then advocate for your crit

#### Explain how open market operations work

(a) List and describe the three tools of the Federal Reserve. Which of these three is the most important (and it's the most frequently used, too) (b) Continuing with what yo

#### Identity one crowd funding project that you like

Identity one crowd funding project that you like, which is of high quality (ie, solves an important problem or leverages a significant trend) and to which you would contribu

#### Which plan will students eat the most

A university is deciding between two meal plans. One plan charges a fixed fee of \$600 per semester and allows students to eat as much as they want. The other plan charges a

#### Define markets characterized by oligopoly

expectations on how rivals will respond are important considerations when a firm decides to change the price it charges its customers, no firm controls more than a 10% share

#### What rate of return did she receive on her investment

An investor bought a one-acre lot on the outskirts of a city for \$9000 cash. Each year she paid \$80 of property taxes. At the end of 4 years, she sold the lot for a net value