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Assume the speed of a vehicle along a stretch of a road has approximately normal distribution with a mean of 46mph and a standard deviation of 4mph. The current speed limit is 45mph. What is the percent of vehicles that drive less than or equal to the speed limit?
A engineering firm plans to buy new software to improve efficiency. The software has an initial cost of $15,000, and is expected to increase profit by $3,000 per year. Determine the payback period for the software including the effect of interest usi..
Justin likes to have chocolate chip cookies and milk for breakfast. When the price of a chocolate chip cookies is $1 and price of a glass of milk is $1, he consumes 10 chocolate chip cookies and 6 glasses of milk each week. hat happens to the MRS at ..
Two cities are very similar. First City has five hospitals: two with 130 beds, one with 115 beds, one with 100, and one with 90. Second City has four hospitals: one with 200 beds, one with 180 beds, one with 150 beds, and one with 100 beds. What is t..
Suppose that the government imposed a $1 tax each time someone used an ATM. How would this tax affect output and the price level in the short and long run?
In the text, we suggested that for well-off individuals with uniform taxation, preferences for education were not single-peaked. Why might preferences for local parks and urban public transportation systems (e.g., buses and subways) also not be singl..
Suppose that the Johnson family has the option of purchasing two bonds. Bond B is a $4000 10% 10 year bond paying annual coupons with redemption value $3000, which can be purchased at a discount for $2000.
Fagilo (2000) found that legislators are more likely to mirror their constituent’s preferences during election years than in earlier years of their terms. This is particularly true for relatively inexperienced legislators. Why might this be the case?
Create a list of 2 separate manufactured brands for automobiles and list the different makes and model for those brands. Write the analisys the manufacturer would offer the different chiuce to costumer?
Be a “two-handed economist” and, In approximately ONE typed page (single-spaced), please explore ONE of the following issues using the concepts and materials from the course. Economic growth is more than important for solving global environmental pro..
Even among professional sport players, the salaries for players in some sports are generally significantly higher than the salary in some other sports. Elucidate how does this make sense using supply and demand in a market in equilibrium.
An increase in the minimum wage will tend to cause which of the following to ?occur?
One of the elements of risk is uncertainty. Which one of the following best describes the type of uncertainty that risk involves? Risk can be classified as pure or speculative. Which one of the following is the best example of a speculative risk? Whi..
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