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1. Refer to Exercise 1. The vendor begins using heavier packaging, which increases the weight of each pack- age by 50 g.
a. How does this affect the mean weight of the packages?
b. How does this affect the standard deviation of the weights?
2. True or false: For any list of numbers, half of them will be below the mean.
3. Is the sample mean always the most frequently occur- ring value? If so, explain why. If not, give an example.
4. Is the sample mean always equal to one of the values in the sample? If so, explain why. If not, give an example.
Suppose you are the marketing manager for the Fruit of the Loom. An individuals' inverse demand for Fruit of the Loom women's underwear is estimated to be P = 25 - 3Q (in cents). If cost to Fruit of the Loom to producing women's underwear is C(Q) ..
Label the axes, show the units and draw the demand curve as accurately as possible. b. If the wage rate for packers is $7.50 an hour, how many labors will Solander Fiji employ? Explain your answer.
Suppose that the price of hamburgers is $1 per hamburger and the price of steak is $8 per steak. Moreover, suppose that Corey can spend $100 per month on these two foods. Sketch Corey's budget line for hamburgers and steak given this budget.
Online Tutors offers monthly access to students for either or both math or science tutors. A market study found that the served by Online Tutors can be divided into two types of students: students needing help with math
a. What is the real value of output (Q) Now assume that the Fed increases the money supply by 10 percent and velocity remains unchanged. b. If the price level remains constant, by how much will real output increase c. If, instead, real output is fixe..
For the declining-balance method, Wang Company uses the double-declining rate. For the units-of-activity method, total machine hours are expected to be 24,000. Actual hours of use in the first 3 years were: 2009, 400; 2010, 4,500; and 2011, 5,000.
a. find the optimal quantity and the price for the firm. b. Now suppose that demand changes to P = 110 - 3Q. Find the new optimal price and quantity. Has there been an increase or decrease in demand. Explain.
A gas utility serves a small town with natural gas. The total cost function for the utility as a function of the amount Q of gas sold is: TC(Q) = 50,000 + 300Q + 0.4Q2 The demand function for the customers is Q = 374 - 0.22P
How does a minimum wage imposed under monopsony differ in results as compared with a minimum wage imposed under perfect competition? (Assume the minimum wage is above the market-determined wage.)
How would your policy have affected interest rates and real output during the period in question? What would be the benefit of your policies?
which would have otherwise been sold for $180,000. The firm will borrow $750,000 to finance the acquisition. Total interest expense for 5-years is expected to approximate $350,000. What is the investment cost of the machine for capital budgeting p..
At world prices, cotton is 25% of the cost of clothing and labor and capital costs are 75%. What is the effective rate of protection on clothing if the tariff on cotton is .1 and the tariff on clothing is .4
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