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Reliability using normal distribution
Assume you tested svereral Firestone tires and recorded their failure times (as defined by an engineer).After doing a Chi-Square test ,you decided taht failures are normally distributed ,with mean failure of 50,000 miles and a standard deviation of 10,000 miles .Determine the following:
a) reliability of the tires at 40,000 miles
b) given that a tire has been driven (on a test machine) 20,000 miles, determine its reliability at 60,000 miles.
Explain how does each of the following affect the aggregate demand curve?
Explain how do the fiscal policy changes play a role in the theory of political business cycles
Obtain the market clearing price and quantity. Under the assumption of profit and maximization , how much output should the representative firm produce?
Let's say there's a world-wide influenza pandemic. Assume that the marginal cost (supply) of influenza vaccinations is constant at $40. Assume that everyone in society has health insurance that pays 80% of all medical services
When and why were the inflation and unemployment rates negatively correlated? When and why were the inflation and unemployment rates positively correlated?
Write down the relationship between savings, capital formation, and consumption.
Use the aggregate demand-aggregate supply model to illustrate graphically the short-run and long-run impact of this decline on output and prices.
Briefly explain in words the sequence of changes that occur as the two economies move from no trade to free trade.
Last year, Pat and Chris occupied separate apartments. Each consumed 400 gallons of hot water monthly.
Discuss how a change in price affects total expenditure by filling in each cell with resulting change in total expenditure.
What are two possible fiscal policy solutions for the problem? Using a Keynesian approach, you should be able to get numerical solutions. More points are given for numerical solutions.
According to law of comparative advantage , who should produce wheat and who must produce Cd palyer? Evaluate all relevant opportunity cost.
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