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An experiment involves rolling two, six-sided dice. A trial consists of tossing two other. There are 36 possible outcomes for each experiment, so what is the probability of rolling a score of 10 or greater if the first die you roll is a 5?
Suppose we are interested in bidding on a piece of land and we know one other bidder is interested.1 The seller announced that the highest bid in excess of $10,000 will be accepted. Assume that the competitor's bid x is a random variable that is u..
Suppose the number of employed people in an economy is 121,166,640. The unemployment rate in this economy is 10.4 percent, or .104, and the labor force participation rate is 72.5 percent, or .725.What is the size of the labor force
In a closed economy the following holds: Household consumption C is given by the consumption function: C = 100 + 0.75Yd Planned investments are I = 250 (independent of Y ). Household disposable income: Yd = Y - T, where Y is production. Taxes depend ..
where P is the price of cigarettes in dollars and Q is in millions of cigars Using calculus, show that the demand and supply curve have constant elasticity along their entire length. What are the values of the demand and supply elasticities
Compute the annual depreciation allowances and the resulting book values using the double declining depreciation method for three possible salvage values: (a) $2000; (b) $778; (c) $0 With consideration of the following accounting information for a ..
Determine the economic advantages or disadvantages, for the United States speaker company Bose, to start a distribution center in the Czech Republic?
A project has a life of 10 years, and no salvage value. The firm uses an interst rate of 12% to evaluate engineering projects. The project has an uncertain first cost and net revenue. First Cost P Net Revenue P -- $300,000 0.2 $70,000 0.3 400,000 ..
Since price-takers cannot charge their own price, they can select a quantity which suits them best. Presumably, they would select the profit-maximizing quantity. Suppose the typical wheat farmer's cost function is TC = 100,000 + 2Q + 0.005Q2 , Q co..
Suppose that the production function of an economy follows the formula Y = F(K, bN) where b denotes the number of units of "human capital" per worker and bN the "effectiveunits" of labor. Due to effective educational policy, the stock of human cap..
man wants to help provide college education for his daughter. He can afford to invest $600/yr for the next 4 years, beginning on the girl's 4th birthday, he wishes to give his daughter $4000 on her 18th 19th 20th and 21th birthdays, for a total of..
The price elasticity of demand for a firm's product is equal to -1.8. the firm currently sells 4,000 units per day at a price of $2. if the firm increases its product price by 10%, then how much can it approximately sell
A corporation has 15,000 employees. Sixty-two percent of the employees are male. Twenty-three percent of the employees earn more than $30,000 a year. Eighteen percent of the employees are male and earn more than $30,000 a year.
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