Cups size is independently drawn from the distribution

Assignment Help Microeconomics
Reference no: EM13687019

You are throwing a party and ll a bowl with 63 ounces of punch.

Presume the expected size of each cup of punch is 2 ounces and the standard deviation of the size of a cup is 1/2 ounce and each cup is poured independently.

(a) Presume each cup's size is independently drawn from the distribution. What is the approximate probability that 36 cups will have been poured before the bowl is empty? (Hint: you can look up the standard normal cdf (c), for any value c in Stata by typing\display normal([enter c here])").

(b) Presume that all the cups' sizes are identical, but that their precise size is unknown - only that it is drawn from the given distribution.

What is the approximate probability that 36 cups will have been poured before the bowl is empty?

Reference no: EM13687019

Questions Cloud

Economically attractive as conventional gasoline fueled car : Ethanol blended with gasoline can be used to power a "flex fueled' car. One particular blend that is gaining in popularity is E 85, which is 85 percent ethanol and 1b% gasoline. E 85 is 80% cleaner burning than gasoline alone, and it reduces our depe..
Which is a key feature of the market system : Which is a key feature of the market system?
What factors will cause a change in demand and supply : What factors (determinants) will cause a change in demand and what factors (determinants) can cause a change in supply? Can you give any current examples of a determinant of demand that you see changing in any industry or marketplace or a determinant..
Average annual rate of return on your investment : Presume you buy a share of stock for $20 and sell it for 40. Then your profit is $20. If that happens within a year, your rate of return is an impressive 100%. If it takes 6 years, what would be the average annual rate of return on your investment?
Cups size is independently drawn from the distribution : Presume the expected size of each cup of punch is 2 ounces and the standard deviation of the size of a cup is 1/2 ounce and each cup is poured independently. Presume each cup's size is independently drawn from the distribution. What is the approximat..
Consumer surplus at this competitive equilibrium : Market demand is p = 540 - q and the market supply equation is p = 60 + 2q. Use this data for the following questions. (The question is in bold bellow) The competitive equilibrium is:? Consumer surplus at this competitive equilibrium is:?
Corporate bond yields rise while treasury bond yields fell : The US treasury isn't the only issue of bonds. Corporations also issue bonds that have future payment structures like U.S. Treasuries. Of course, unlike the federal government, corporations can go bankrupt, leaving their bondholders unable to collect..
Compute the current yield and the coupon rate : Consider a $1,000.00 face value bond with a $40 annual coupon and 8 years until maturity. Compute the current yield and the coupon rate for each of the following: The bond is purchased for $850
Money market as institutions sell bonds to obtain more money : If the real money demand is greater than the real money supply interest rates must rise to reach equilibrium in the money market as institutions sell bonds to obtain more money.

Reviews

Write a Review

Microeconomics Questions & Answers

  Explain the implicit opportunity cost

Suppose your college charges you separately for tuition and for room and board. then what is a cost of attending college that is not an opportunity cost.

  How to raise the equilibrium price

An excise tax of $1.00 per gallon of gasoline placed on the suppliers of gasoline in a market with downward sloping demand and upward sloping supply would raise the equilibrium price. a exactly $1.00 per gallon.

  Who made those resources available and why

What motivated the producers of those individual products to make them and offer them for sale How did the producers decide on the best combinations of resources to use Who made those resources available and why

  In neoclassical growth models sources of growth is

in neoclassical growth models the sources of growth is exogenous usually technology. such theoretical models hence are

  What fundamental changes took place in revised matrix

ace and baumont corporations make and sell electrical equipment. both have to decide whether or not to discount. the

  Is the following statement true or false if the policy

we have learnt that cbacost and benefit analysis is not the only method to choose among different public policies.

  Two professors from the university of michigan offered a

two professors from the university of michigan offered a paper entitled dying to save taxes evidence from estate tax

  What are the fixed and variable costs

a. Distinguish between explicit and implicit costs of your college education giving examples of each. b. What are your fixed costs  Variable Costs c. Use a real-world example to explain the law of diminishing marginal productivity in your co..

  1 assume you are a policymaker in washington dc

1. assume you are a policymaker in washington dc. lobbyists for the preschoolers of america have put pressure on

  Which tends to reduce economic uncertainty

The government must hold a referendum before any public good is produced. B) The government has to facilitate the collective decision making in the production of public goods. C) The government must force the firms to produce all the public goods...

  Show that the two utility functions given below generate

Which of the following utility functions are consistent with convex indifference curves and which are not?

  The other is to convert the nominal gdp growth rate to real

one is to convert the actually a nominal gdp number to a real gdp number. the other is to convert a nominal gdp growth

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd