Earnings for employees in general automotive repair

Assignment Help Business Economics
Reference no: EM132072260

Suppose that the average weekly earnings for employees in general automotive repair shops is $450, and that the standard deviation for the weekly earnings for such employees is $50. A sample of 100 such employees is selected at random.

Find probability that the mean of the sample is less than $445. Place your answer, rounded to 4 decimal places

Reference no: EM132072260

Questions Cloud

Find the p-value and critical values : Assume that the significance level is a=0.01. Use the given statement and find the P-value and critical values.
What is the meaning of confidence interval : What is the meaning of confidence interval, error of estimate (margin of error) and critical value?
Which do you find the most convincing : PHIL 011: Address the subjectivism vs. objectivism debate in ethics. Which do you find the most convincing? What arguments do you find the most compelling.
Determine what will be the dividend payout ratio : Axel Telecommunications has a target capital structure that consists of 60% debt and 40% equity. The company anticipates that its capital budget.
Earnings for employees in general automotive repair : Suppose that the average weekly earnings for employees in general automotive repair shops is $450, and that the standard deviation for the weekly earnings
Calculate the required return and expected return for stock : Calculate the required return and expected return for this stock. What is this stock's required rate of return?
Law of demand and supply : Sometimes the law of demand and supply fails because there is always a constraint that states everything else must be held constant.
What is michelle affordable home purchase price : Michelle Duncan wants to know her affordable home purchase price. What is Michelle's affordable home purchase price?
Opportunity costs and the marginal rate of substitution : Explain in terms of relative prices, opportunity costs and the marginal rate of substitution.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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