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A recent article in the Cincinnati Enquirer reported that the mean labor cost to repair a heat pump is $90 with a standard deviation of $22. Montes plumbing and Heating Service completed repairs on two heat pumps this morning. The labor cost for the first was $75 and it was $100 for the second. Assume the distribution of labor costs follows the normal probability distribution. Compute Z values for each and comment on findings.
Define the term- inflation Inflation between two points in time is defined as the percentage increase of price index between these two points in time.
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Assume in country-A Central Bank cares only about keeping the price level stable & in country-B, its central bank cares only about keeping output & employment at their natural rate
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