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A very skilled court stenographer makes two typographical errors (typo) per hour, on average.
1. What probability distribution is most appropriate for calculating the probability of a given number of typos being made by this stenographer in an hour? What assumptions do you have to make?
2. What is the probability that the stenographer makes no typos in an hour?
Top four firms in Industry B have market shares of top four firms in Industry B have market shares of 15,12,8 and 4 percent, respectively. Calculate four-firm c0ncentration ratios for two industries. Which industry is more concentrated.
What is the argument made by minimum wage laws critics who argue that they create more unemployment than would otherwise be the case? Which Apple supplier has come under intense scrutiny (especially in China) these last few years over its labour prac..
What is the contract curve inside the Edgeworth box for two consumers “you” and “me”? In terms of overall welfare between two consumers, is it better to be on or off the contract curve. Why or why not?
What are some of the positive and negative aspects of technology growth? What can businesses and governments do, as they tried to do in Ohio, to make “transition” as smooth as possible?
Collect data on the monetary base in the U.S. What was the size of the monetary base in August of 2007? What about in August of 2009? If the inflation tax is the ?M and the monetary base is our measure of M, then how much revenue was raised from the ..
If Harrods offers 1.2 million shares of its stock in exchange for the 2 million shares of Selfridge, what will the stock price of Harrods be after
All farmers in Trivialand are self - employed and sell all of their wares to Super Duper. Elucidate the costs incurred by all of Trivialand's busines.
Drawing Conclusions How do trade deficits correct themselves under a system of flexible exchange rates (FER)?
During a year of operation, a firm collects $175,000 in revenue and spends $80,000 on raw materials, labor expense, utilities, and rent. The owners of the firm have provided $500,000 of their own money to the firm instead of investing the money and e..
The island of Yoko has 300 residents who can work in only one of two economic activities – fishing or tourism. Last year 30 residents worked as fishermen in Yoko and caught 40 tons of fish in total. Draw a production possibility frontier for Yoko in..
Casa della Maison Restaurant is planning a sweatshirt advertising promotion. Limited sales data from a few sweatshirt sales of a prototype design indicate that What price would it have to charge to sell 1,500 sweatshirts. Calculate the price elastici..
Why was federal intervention necessary to extend voting rights to African Americans? What claims have been made to support voter identification laws in Texas?
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