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a.) The mean yearly rainfall in Sydney, Australia is about 137 mm and the standard deviation is about 69 mm. Assume rainfall is normally distributed.
b.) Find the probability that the yearly rainfall is less than 100 mm.
c.) Find the probability that the yearly rainfall is more than 240 mm.
d.) Find the probability that the yearly rainfall is between 140 and 250 mm.
After 6 years, the press can be sold for $500. What is the press' present worth at an interest rate of 12%?
Assume that you are the manager of a firm. You are concerned about a potential increase in interest rates because it would reduce the demand for your products. Currently, economic growth is high, but annual inflation has increased from 3 percent to 5..
Read the article "The World's next great leap forward. Towards the end of poverty." Then answer the questions below. According to the article, how is poverty reduction achieved? In other words, what is the source of poverty reduction? What will happe..
A factory that employs more than 70% of the workforce in the community of Green Island has closed, because of foreign imports. john who operates a convenient store within the community noticed a sudden increase in the demand for his products since th..
Describe the Stolpher-Samuelson theory of trade. How does it differ from the factor endowment model? What are its predicted effects on wage-inequality in (a) industrialized countries that are capital-abundant and (b) developing countries that are lab..
In a competitive market free of government regulation,
Many centrally-planned economics, such as the former soviet union, set price ceilings on agricultural products in an attempt to aid consumers. 1. Analyze the welfare effects of a price ceiling graphically. Assume for simplicity that the country does ..
Select two subject and explain how they fit into economics- what do the subject have in common? How does it impact how you think about economics? What can you learn from it? and how can you apply it?
Discuss how to close a recessionary gap. Discuss how to close an expansionary gap. What is the target and what happens if the policy "over-shoots?" What happens if a president tries to lower the unemployment to win the election? Did this ever happen?..
Firms charging an identical price will always be the case in perfect competition since any firm that charges more than the going market price will sell nothing. In price-setting among oligopolists there is usually a bit of dispersion among the pri..
For each of the following transactions identify by how much M1 and M2 change. (a) Your grandmother gives you a check for $250 as a present for your birthday. You deposit the check into your checking account. You then withdraw $50 as cash and transfer..
If the current interest rate is 12% p.a. compounding monthly, what year-end salary would you require to choose that option over monthly payments?
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