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A global strategy can be a problem for the international firm if it causes the firm to overlook important local or regional differences in areas such as personnel practices or customer tastes.
Suppose that usage of cooking oil at Harry's Fish Fry is normally distributed with an average of 15 gallons/day and a standard deviation of two gallons/day. Harry has just fired the manager and taken
A service garage uses 120 boxes of cleaning cloths a year. The boxes cost $6 each. Ordering cost is $3 and holding cost is 10 percent of purchase cost per unit on an annual basis.
A car rental agency uses 96 boxes of staples a year. The boxes cost $4 each. It costs $10 to order staples, and carrying costs are $0.80 per box on an annual basis.
A manager is reordering lubricant when the amount on-hand reaches 422 pounds. Average daily usage is 45 pounds, which is normally distributed and has standard deviation of three pounds per day. Lead t
A manager intends to order a new machine and must now decide on the number of spare parts to order along with the machine. The parts cost $400 each and have no salvage value. The manager has compiled
A firm stocks a seasonal item that it buys for $22/unit and sells for $29 unit. During the season, daily demand can be described using a Poisson distribution with a mean of 2.4. Because of the nature
Person #206 in the data set has the following characteristics: cigpric = 67.44, income = 6500, educ = 16, age = 77, restaurn = 0, white = 0, smoke=0. Compute the predicted probability of smoking for t
Again, start with the original model, but now allow wages to differ across four groups of people: married and black, married and non-black, single and black, and single and non-black. What is the esti
At what value of exper does the additional experience actually lower predicted log (wage)? How many people have more experience in this sample?
Estimate the model in part (i) but drop rbisyr. What happens to the statistical significance of hrunsyr? What about the size of the coefficient on hrunsyr?
Test the hypothesis that H0 : ß0 = 0 against the two sided alternatives. Then, test H0: ß1= 1 against the two sided alternatives. What do you conclude?
Are rent rates influenced by the student population in a college town? Let rent be the average monthly rent paid on rental units in a college town in the United States. Let pop denote the total city p
What is the predicted atndrte if priGPA = 3.65 and ACT = 20? What do you make of this result? Are there any students in the sample with these values of the explanatory variables?
growth = ß0 + ß1 share P + ß2 share I + ß3 share S + other factors,where growth is the percentage change in employment from 1980 to 1990, share P is the share of property taxes
What is the predicted ceteris paribus difference in salary for schools with a median GPA different by one point? (Report your answer as a percentage.)
A random sample of 104 executives was asked about their views on the economy. 40 percent said it would improve (the rest saying it would not improve).
Would you say that the estimated fall in consumption is large in magnitude? Comment on the practical versus statistical significance of this estimate.
Suppose a fair coin is tossed 3 times and let a random variable X denote the number of heads. Define Y, a Bernoulli random variable, as Y=1 if the first tossed coin turns up head, and Y=0 otherwise.
Let X denote the annual salary on university professors in the United States, measured in thousands of dollars. Suppose that the average salary is 52.3, with a standard deviation of 14.6.
Let X denote the prison sentence, in years, for people convicted of auto theft in California. Suppose that the pdf of X is given by
Let X be the random variable distributed as Normal (5,4). Find the probabilities of the following events
Define and develop an innovative entrepreneurial or intrapreneurial (intraorganizational) business opportunity in the field of e-commerce.
Problem-solving question: Use the following data for a pure monopoly to calculate the firm’s: (a) total revenue, marginal revenue, marginal costs, and average total cost
It is often said that cash flow is king. But would it surprise you to learn that cash flow is often the reason for business failure?