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a)What is the probability that two randomly (and independently) selected applicants will both score less than 450 in this test?
b) What is the probability that out of two randomly (and independently) selected applicants, at least one will score less than 450 in this test?
Assume that before specialization and trade, Latalia produced combination B and Trombonia produced combination C. Assume these two nations now specialize completely based on comparative advantage.
Explain how the Federal Reserve policy makers effect interest rates. Describe the difference between expansionary and contractionary rules.
A contractor purchases a piece of equipment for $26,000. The equipment requires an average expenditure of $9.25 per hour for fuel and maintenance, and the operator is paid $15.50 per hour to operate the machinery. Find the average cost function.
The current market wage rate is $10, the rental rate of land is $1,000 per unit, and the rental rate of capital is $500. Production managers at a firm find that under their current allocation of factors of production, the marginal revenue product ..
You just inherited $10,000. while you plan to squander some of it away, how much should you deposit in an account earning 5% interest per year if you'd like to have $10,000 in the account in 10 years
Suppose annual salaries for sales associates from a particular store have a mean of $32,500 and a standard deviation of $2,500. Calculate and interpret the z-score for a sales associate who makes $36000. Suppose that the distribution of annual sa..
Calculate the Net Present Value and Rate of Return for the Project: Initial Cost: $100,000.00 Expected annual benefits: $20,000 Expected economic life: 10 Expected salvage: $10,000 Minimum Attractive Rate of Return: 12%
A researcher wants to compare the average success index for two groups of managers at la large manufacturing plant. Managers in group 1 engage in a high volume of interactions with people outside their work unit, while managers in group 2 rarely i..
Given population = 500, Population 16+ and non-institutionalized = 400, People employed full or part-time = 200 People unemployed and actively seeking work = 20 People who have quit seeking work due to lack of success = 10Part-time workers seeking fu..
Now consider the production of Good Y. Unlike manufacturing Good Y, in this case, humans and robots are complements. The production function for Y is given by Y=f(H,R)=min(H,R). Again, the wage for humans is $15/hour
Consider two goods, Gorillas (G) and Chimpanzees (C). Your utility function for gorillas and chimpanzees is given by U(G,C)=ln(G)+C. Gorillas cost $10 each, and Chimpanzees cost $4 each. You currently have $200 to spend.
The internal study could be started immediately, and then the decision on the consultant could be made in three months. If this option is selected, the internal study will reliably indicate the outcome. If the consultant were hired, it would add t..
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