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Q. Explain why each of following is or is not a valid probability distribution for a discrete random variable x: See p.183-84. 4.16 Toss three faircoins and let x equal number of heads observed. A. Identify sample points associated with this experiment and assign a value of x to each sample point. B. Calculate p(x) for each value of x. c. Construct a probability histogram for p(x). D. What is P(x = 2 or x = 3)?
A local restaurateur whose trade had been profitable for many years recently purchased a liquor license, giving her a legal right to sell beer.
If the owners could have earned a 20% annual rate of return on the invested money, explain how would the economic profit change (all else equal). How would the accounting profit change.
You know that marginal cost of last unit is $30. Should industry continue to operate at a loss. Carefully elucidate your answer
Use this equation to explain the level of income at which there is a zero lower bound on the federal funds rate
If the college charges all students the same tuition, illustrate what tuition can it charge to cover all of its costs.
Suppose we randomly poll 500 Americans and ask them whether they believe that the parents are involved. What is the distribution of the sample mean.
Estimate the regression coefficients using ordinary least squares also interpret them. Predict the weekly sales for a store with 10 feet of shelf space situated at the back of the aisle.
To continue operating, the college must receive payments equal to its total costs (that is, total fixed costs + total variable costs). If the college charges all students the same tuition, illustrate what tuition can it charge to cover all of its c..
In competitive equilibrium, what is the ratio of the price of bananas to the price of tomatoes. Illustrate what is the equilibrium quantity of bananas and tomatoes consumed by Marilyn and Chen.
Elucidate the concept of the opportunity cost. your answer could consider opportunity cost in the context of the production possiblity curve.
Supply is the world supply. Elucidate the consumer surplus at the equilibrium price. What is the producer surplus.
Provide all these factors that affect supply, is the long-run supply for apples likely to become more elastic or more inelastic than the short-run supply.
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