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Reliability using normal distribution
Assume you tested svereral Firestone tires and recorded their failure times (as defined by an engineer).After doing a Chi-Square test ,you decided taht failures are normally distributed ,with mean failure of 50,000 miles and a standard deviation of 10,000 miles .Determine the following:
a) reliability of the tires at 40,000 miles
b) given that a tire has been driven (on a test machine) 20,000 miles, determine its reliability at 60,000 miles.
Answer the following questions as these general questions pertain to the specific issue selected.The questions that you will cover with respect to your choice of broad social issue in the paper are given.
For the product shown, assume that the minimum point of each firm's average variable cost curve is at $2. Construct a demand and supply diagram for the product and indicate the equilibrium price and quantity.
In article on the steel industry, The Wall Street Journal noted that as steel prices were falling, steelmakers were not cutting production
Question based on Derive and compare demand curve, Derive Ambrose's demand function for peanuts. How does it compare with Johnny's demand curve for peanuts?
Compute the expected value (revenue) from each project. Compute the coefficient of variation of each project, and find out which project should the company choose. Compute the variance and standard deviation of expected value from each project.
The table below shows the marginal utility a costumer would get by purchasing various quantities-What combination of the three products should be purchased in order to maximize utility?
A firm has estimated the following demand function for its product: Calculate the advertising elasticity of demand and explain its meaning.
Describe the present economic crisis situation in Europe. Why has it been so difficult for the Europeans to find a solution to this problem? Comment on what implications the crisis may have for the rest of the world if Europeans are not able to ag..
Why might the existing firms in a cartelized industry prefer to be regulated by the government? What is the problem with common property resources?
In Gelate, Pennsylvania, the market for compact discs has evolved as follows. There are two firms that each use a marquee to post the price they charge for compact discs.
Draw a graph showing hte above situation. Include in that graph, the monopolist's cost curves, demand and marginal revenue curves and the price and quantities that are indicated by the situation described above.
An entrepreneur plans to convert a building she owns into a video-game arcade. Her main decision is how many games to purchase for the arcade.
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