Find the probabiity that both adults

Assignment Help Macroeconomics
Reference no: EM131163598

In a sample of 1000 US adults, 186 dine out more than once per week.  Two US adults are selected at random from the population of all US adults without replacement.  Assuming the sample is representative of all US adults complete parts a through d

a. Find the probabiity that both adults dine out more than once per week.  Round to 3 places

b. Find the probability that neither adult dines out more than once per week.  Round to 3 places

c. Find the probability that at least one of the two adults dines out more than once per week.  round to 3.

Which of the events can be considered unusual?

Reference no: EM131163598

Questions Cloud

Demonstrates a parliamentary system : Name another democracy in the world (other than the U.K.) that demonstrates a parliamentary system. Provide as much information as you can about that country/system.
Create an executive-level presentation : Learning Objectives- After completing this project, students will be able to- create an executive-level presentation and write an executive-level memorandum
Explain the project assessment methods the organization : Explain the project assessment methods the organization should have used to assess these projects (IRR, NPV, payback, and ARR) - What are the advantages and drawbacks to using each one?
Solve for nash equilibrium and find equilibrium wholesale : ABC Inc is a monopolist selling to two competitive retailers who engage in the Bertrand competition. ABC Inc has a constant marginal cost of 10. Demand at the retail market is given by p=70-q. Solve for the Nash equilibrium, and find the equilibrium ..
Find the probabiity that both adults : a. Find the probabiity that both adults dine out more than once per week.  Round to 3 places b. Find the probability that neither adult dines out more than once per week.  Round to 3 places c. Find the probability that at least one of the two adults ..
Are poor countries somehow different than wealthy countries : Are poor countries somehow "different" than wealthy countries? How can firms and markets increase the wealth of poor countries? Be sure to address each question in the problem.
What is the rate of draining when the gutter is full : The gutter is designed for a sudden rainstorm of up to 5 mm per hour. For this condition, what is the maximum roof area that can be drained successfully?
What would be nash equilibrium-equilibrium wholesale price : Suppose that a car dealer has a local monopoly in Selling Volvos. It pays the wholesale price w to Volvo for each car that it sells, and charges each consumer the retail price p. Suppose that the car dealer and Volvo work separately. What would be th..
Prepare information for a business audience : prepare a short commentary for a business audience explaining the concepts of value and exchange in such a way that business owners...

Reviews

Write a Review

Macroeconomics Questions & Answers

  When price is greater than average variable cost

continue to produce the level of output at which marginal revenue equals marginal cost. increase output to minimize its losses. reduce output to the level at which price equals average variable cost to minimize its losses. shut down to minimize it..

  Calculate the effect on the canadian dollar

Calculate the effect on the Canadian dollar of a decline in Canadian interest rates to 3% assuming that interest parity holds and Derive expressions for the IS and LM curves in this economy, in each case with the world real interest (rw) on the left..

  Plot the market transactions for widgets

(1a.) Considering all prices, plot the market transactions for widgets.( b.) What is the price elasticity of demand for widgets when the price goes up from $20 to

  Consumer spending and business investment

How does a credit crunch affect consumer spending and business investment? How does a credit crunch affect aggregate demand, GDP, and unemployment?

  Evaluate why mutual funds are an attractive investment

There are several ways that mutual funds can generate returns for investors. Compare and evaluate these different types of income and evaluate their tax effect.

  What level of output will the firm produce

In a perfectly competitive market suppose that a competitive firm's marginal cost of producing output q is given by MC(q)=3+2q. Assume that the market price of the product is $9:

  Handful of competitors selling products

Define what is a market structure with only a handful of competitors selling products that are either similar or different. Barriers to entry are typically high.

  What fiscal policies do you think caused the crisis

What monetary policies do you think caused the crisis - What were the effects of the policies implemented in reaction to the crisis?

  Evaluate the range of marginal revenues

Evaluate the range of marginal revenues

  Question regarding the output of a computer program

Discuss whether it is it possible for the output of a computer program to be correct even if an error has occurred at some point in the program run, and if it is, why?

  Which texts possible explanations for increasing wages

Which two of the text's possible explanations for increasing wage and salary inequality seem least consistent with the following fact The distribution of earnings has become more unequal within industries (Both goods and service industries) and wi..

  Annual growth rate for gdp

Obtain annual data for a series of economic indicators from the ABS National accounts database. The economic indicators you are required to research are annual growth rate for GDP

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