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A local courier service reports that 90% of bulk parcels within the same city are delivered on time. Seven parcels are randomly sent to different locations.
A) What is the probability that all seven arrive on time?
B) What is the probability that exactly five arrive on time?
C) What is the probability that no more than four arrive on time?
D) Find the mean number of parcels that will arrive on time.
E) Calculate the variance of the number of parcels that will arrive on time.
F) Determine the standard deviation.
If the farmer rented her land from a landowner, would she have the same incentives to control soil erosion. Illustrate would the landowner have an incentive to control erosion.
Jimmy has a room which overlooks, from some distance, a major league baseball stadium.
Specify the set of mutually beneficial allocations relative to the initial endowment and illustrate the set.
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Compare how equilibrium is attained in the market for goods and services versus the market for real-money balances. (Hint: Explain what force moves the market back to equilibrium if the market is initially in disequilibrium).
You are indifferent between 2 jobs, which differ in their danger levels and compensation. You can be a crab fisher in the Bering Sea, which pays $70,000 for a 3-month period, or you can be an accounting intern, earning $2,400 for the same period. The..
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(All numbers in the thousands) In May 2015, the civilian non-institutional population was 250,455. The number of employed workers was 148,795. The number of unemployed workers was 8,674. The number not in the labor force is 92,986. What was the unemp..
q.briefly explain the current 2012 discretionary fiscal policies that are being used by the federal government to try
Describe the similarities between the health-care sector and it's problems and the higher education sector and it's problems. Why do these two sectors in our economy have similar problems?
Suppose a wage increase from $25 to $27 an hour increases the number of job applicants from 52 to 66. Illustrate what is the price elasticity of labor supply.
Fisher's utility function for trout (T) and salmon (S) is given by U = ST, where the MUT = S and MUs = T. Which set of consumption bundles lies on the same indifference curve?
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