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A study by the Information Technology department at WPU revealed company employees receive an average of four e-mails per hour. Assume the arrival of these e-mails is approximated by the Poisson distribution. (a) What is the probability, Prof. Smith, received exactly one e-mail between 4pm and 5pm yesterday? (b) What is the probability he did not receive any e-mail during this period? (c) What is the probability he received ten or more e-mails during the same period?
Q. Discuss about the factors affecting the Price Elasticity of Demand. a. Availability of Substitute- Availability of close substitute is important determinants of elasticity of
What are the two main costs of economic growth The two main costs of economic growth are resource depletion and environmental damage. Economic activity needs factor inp
As it turns out, there is little evidence to support a direct causation between income and children. (If I am poor, then I will decide to have a lot of children? Alternatively: I h
P2 and P3 play with a penny. P1 picks between same (S) and different (D). After observing P1's choice, P2 and P3 get to picked Simultaneously independently either head (H) and tail
Assume that government purchases decrease by $10 billion, with other factors held constant, including the price level. Calculate the change in the level of real GDP demanded for ea
Danny is an investment banker and has income I = 300. When prices are px = 10 and py = 20, Danny consumes the bundle (x; y) = (6; 12). 1. Illustrate Danny's budget constraint
Historically, the proportion of students entering a university who finished in 4 years or less was 64%. To test whether this proportion has decreased, 122 students were examined an
A major component of the costs of many large firms is the cost associated with ordering and holding inventory. If the yearly demand for the good is D and the size of each order p
economic indicators graph
Q. Control of ochratoxin? Control: Once ochratoxin A has been formed in a food, it is difficult to remove by most forms of food processing. Cooking with or without previous soa
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