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1) Let Z be a standard normal random variable with mean = 0 and standard deviation = 1. Us the normal table to find the following answers.
a) P(0 < Z < 0.92)
b) P(-1.22 < Z < 0.92)
c) Find the value Z0 such that P(0< Z < Z0)= 0.4901.
2) On a typical weekend afternoon, the travel time from GWU to Dulles airport follows a normal distribution with a mean of 45 minutes and a standard deviation of 4 minutes.
a) What is the probability that the travel time is between 45 and 50 minutes?
b) What is the probability that the travel time is more than 60 minutes?
Find the value x0 such that the probability it takes less than x0 minutes to get from GWU to Dulles is 0.99.
The overheads for the robots department are $ 57000 per annum and are absorbed on a direct materials basis. Calculate the manufacture cost and the selling price
The firm increases its entire size until it makes 30,000 units a week. What would total cost be if the firm faces constant returns to scale?
If genetics is the most important determinant of sexual orientation, which set of brothers will have the greatest likelihood of both having homosexual
Let O = {x ∈ Z | x is odd} be the set of odd integers and E = {x ∈ Z | x is even} be the set of even integers. (a) Explain whether {O, E} is a partition of Z. (b) Explain whether {O × O, E × E} is a partition of Z × Z. If the answer is no for eith..
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Suppose a consumer's utility function is given by U(X,Y) = X*Y. Also, the consumer has $288 to spend, and the price of X, PX=16, and the price of Y, PY = 1. How much X and Y should the consumer purchase in order to maximize her utility? How much tota..
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When, if ever, is it acceptable for one state or groups of states to interfere in the domestic affairs of another state
Hershey Park sells tickets at the gate and at local municipal offices. There are two groups of people. Suppose that the demand function for people who purchase tickets at the gate is QG = 10,000 – 100pG and that demand function for people who purchas..
Suppose the restaurant industry is perfectly competitive. All producers have identical cost curves and the industry is currently in long-run equilibrium, with each producer producing at its minimum long-run average total cost of $8.
measures the cost of an innovation per quality -adjusted life year. is producing output and then adjusting prices to sell what has been produced.
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