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Carlos, a cost estimator for Deblack Chemicals, LLC, has estimated the annual net revenue R for a newly developed antifungal spray applied to post-harvest citrus fruit. He predicts the expected revenue to be $3.1 million per year for the next 5 years. This expected amount is based on his estimate that R could be $2.6, $2.8, $3.0, $3.2, $3.4, or $3.6 million per year, all with the same proba- bility. Do the following for Carlos:
a. Identify the variable R as discrete or continuous; describe it in engineering economy terms.
b. Write the probability statements for the estimates identified.
c. Plot the probability distribution of R.
d. A sample of size 4 is developed from the distribution for R. The values in $ million are: 2.6; 3.0; 3.2; 3.0. If the interest rate is 12% per year, use the sample to calculate the PW values of R that could be included in an eco- nomic evaluation with risk considered.
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suppose you have announced you will meet the competition in response to entry threats by a potential rival who has done
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Although there is relatively little difference in the cost of producing hardcover and paperback books, these books sell for very different prices. Explain this pricing behaviour.
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What strategy do you think you'll use to construct an introduction?
Assume that Stonington uses a flat fee pricing system for trash services. Under this scenario, find the flat fee equilibrium quantity (QFF). Compare the flat fee equilibrium to the competitive equilibrium (QC) and the efficient equilibrium (Q..
A steel producer has the production function q=10K^0.75 E^0.25 where q is the quantity of steel, in metric tons, K is the firm's capital stock, and E is the number of labor hours it employs (measured in thousands).
Describe the types of economic development programs that are being conducted in your community - Analyze the actors involved in the economic development programs.
Consider an open economy with flexible exchange rates. Suppose output is at the natural level, but there is a trade deficit. What is the appropriate fiscal and monetary policy mix?
A firm uses two inputs into production: capital and labor. In the short run, the firm cannot adjust the amount of capital it is using, but it can adjust the size of its workforce. What happens to the firm's average total cost curve, the average va..
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