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Scores on Professor Combs' Statistics Final Exams have a long term history of being normally distributed, with a mean of μ = 72 and a standard deviation of σ = 8
a.) Find the probability that a single student will score above a 77 on the Final exam.
b.) Find the probability that a single student will score between a 67 and 77 on the Final exam.
c.) Find the probability that an entire class of 20 students will have a class average above a 77 on the exam.
d) Find the probability that an entire class of 20 students will have a class average between 67 and 77 on the Final exam.
Two identical firms, Firm 1 and Firm 2, compete in quantity in a market where inverse demand is P(Q) = 100 − Q and there exists a constant marginal cost of 20 per unit. Find the Stackelberg equilibrium. Find the Cournot equilibrium
Few orthopedic surgeons publish data describing their surgical volumes, infection rates, mortality rates, functional gain rates, or customer satisfaction rates. How much would a regulation requiring publication of such data cost? Would such a regulat..
What are some benefits of the Benefits-Cost Ratio? What are some disadvantages of the Benefits-Cost Ratio? What are some depreciation methods? What are the more common methods used in the United States? What does depreciation mean?
Assume a technological advance leads to lower production costs. Show the effect this will have on national income, unemployment, inflation, and interest rates with the help of an ADAS diagram, assuming completely flexible wage rates.
Explain the basic distinction between microeconomic analysis and macroeconomic analysis.
Discuss the strategy at HK Disneyland in the context of standardization versus differentiation of attractions.
q.assume a consumer has 600 to spend on two goods good x as well as good y. the cost of good x is given by px 20. the
USA has millions of individuals under 16 years old who are not working. Do we include them as part of unemployed individuals? Why higher rates of unemployment undesirable? What are the social problems linked with unemployment? What are the types of u..
Suppose labor productivity differences are the only determinants of comparative advantage, and Brazil and Chile both produce only coffee and sugar. In Chile, either 5 units of coffee or 2 units of sugar can be produced in one day. In Brazil, a day of..
Write a paper that uses game theory to to set up a game designed to help a consumer decide whether to buy life insurance or not. To keep the game relatively simple, assume the life insurance being considered is term life, i.e. insurance without an ac..
Suppose OPEC members met and decided to increase their oil production (and thus lower prices) for six months. This change will cause many firms’ input prices in the U.S. to __________. This change in input prices will cause a _____________ aggregate ..
Discuss how the wage rate and level of employment will be determined if
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