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Chlorine concentration in a municipal water supply is a uniformly distributed random variable that ranges between 0.74 ppm and 0.98 ppm.
Determine the following:
(a) Mean chlorine concentration
(b) Standard deviation
(c) Probability that the chlorine concentration will exceed 0.80 ppm
(d) Probability that the chlorine concentration will be under 0.85 ppm
(e) Probability that the chlorine concentration will be between 0.80 ppm and 0.90 ppm
the average tax charge is $95. Assuming a normal distribution as a standard deviation of $10, use the approximate areas beneath the normal curve.
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The Toys-R-Danger-Us Toy Company can produce 500 water pistols for a total cost of $1,400. The company can also produce 1,000 water pistols for a total cost of $3,000, but it would have costs of $200 even if it produced no water pistols.
Show how expansionary fiscal and monetary policies work. Under what conditions would these policies work more, or less, effectively?
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