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It is said that sufferers of a cold virus experience symptoms for 7 days. However, the amount of time is actually a normally distributed random variable whose mean is 7.5 days and whose standard deviation is 1.5 days.
A) What proportion of cold sufferers experience symptoms for less than 7.5 days?
B) What proportion of cold sufferers experience symptoms for between 7.5 and 10.5 days?
C) Compute the probability of a cold sufferer experiencing symptoms for more than 12 days.
D) Compute the probability of a cold sufferer experiencing symptoms for less than 5 days?
E) Compute the probability of a cold sufferer experiencing symptoms for between 6 and 8 days?
F) What cold length (number of days of symptoms) is exceeded by only 10% of cold sufferers?
Suppose that the demand curve (hundreds) for apples is given by Qd = 140 - 5P, where Qd is the number of pounds demanded per year and p is the price per pound. The supply of apples can be described by Qs = 40 + 5P, where Qs is the number of pounds pr..
According to the product cycle hypothesis, a product will be produced only in an industrialized economy. When
Evaluate the appropriate government role in K-12 education using the test of market failure. Specifically, determine whether private markets could work within a K-12 context, or if government is support necessary.
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In an effort to reduce education expenditures, Delware shuts down two of the five colleges that train nurses. Using the traditional supply and demand model, discuss the effects of the budget cut on three markets: the markets for nurse schooling (tuit..
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Budget line showing the various combinations of scores on the two exams that she can achieve with a total of 400 minutes of studying.
What combination of T and M will you choose? Suppose that the price of day trip rises to $80. How will this change your decision making?
Government imposed price controls often lead to
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How supply affects goods and services supplied by business in the product market. How demand effect goods and services in the consumer market. How supply effect factors of production in the factors market and how demand affects factors of production ..
What would be the new equilibrium in this economy if Investment increased by $12.
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