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The following table contains the probability distribution for X = the number of traffic accidents reported in a day in a small city in the Midwest: a) What is the probability of at least 1 accident?
b) What is the expected number of accidents?
c) What is the variance of the number of accidents?
d) What is the standard deviation of the number of accidents?
A company that sells annuities must base the annual payout on the probability distribution of the length of the life of the participants in the plan. Suppose that the probability distriution of the lifetimes of the participants is Normally distributed with a mean of 68 years and a standard deviation of 3.5 years. a) What is the probability that a plan recipient receives payments beyond age 75?
b) What is the probability that a plan recipientd ies before they reach the standard retirement age of 65?
c) Find the age at which payments have ceased for 86% of the plan participants.
Recent data reveals that the price of balsamic vinegar and the quantity of balsamic vinegar consumed have decreased. Which of the following would cause an unambiguous decrease in the quantity of balsamic vinegar
Analyze the differences and similarities between your personal vision statement and the vision statement of the organization you explored. Rate the organizational vision statement in terms of how motivational or inspirational it is or would be to yo..
A company is trying to provide goods and services to customers in a balanced customer benefit package CPB. Do you see any conflicts in a goods-producing versus service-providing way of thinking? Illustrate with examples.
Find out average fixed costs when the firm produces 50 widgets per day. Find out average total and variable costs for producing 49 widgets.
Two goals of monetary strategy in the United States are price stability and full employment. Explain with the help of the appropriate graphs.
Is the compensation scheme at your present place of employment consistent with a reasonable solution to the agent principal problem?
Your example should be original -- not one from the textbook or my lecture. Make sure response explains how optimal firm behavior will lead to scale and substitution effects. Also explain the importance of the diminishing marginal returns assumpti..
Jones on the other hand regards ham and cheese as perfect substitutes-she is always willing to trade 3 slices of ham for 4 slices of cheese, and her utility function is given by Uj+4h+3c. Total endowments are 100 slices of ham and 200 slices of ch..
Use the concepts of marginal cost and marginal revenue to derive an optimal capital budget for Company X, which has identified 7 possible investment projects and determined its cost of capital.
Under what conditions would the government choose to implement expansionary fiscal policy. How does expansionary fiscal policy affect Aggregate Demand. Use an example from U.S. history to illustrate how expansionary fiscal policy affects the econo..
Discuss the various ways governments can handle externalities, such as noise from a local airport or a barking dog or building of commercial office space or an industrial building in a residential area How does the assignment of property rights af..
What is the difference between a cost-benefit analysis and a cost-effectiveness analysis? Give an example of a situation in which a cost-benefit analysis would be appropriate and an example of a situation in which a cost-effectiveness analysis would ..
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