Probability that the mean of random sample
If the true average life of the light bulbs is really 1,965 hours with standard deviation 150 hours, what is the probability that the mean of a random sample of n=100 measurements would exceed 2,000 hours?
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What affect do you think this would have had on you and your purchase if a trade restraint (i.e. a quota or tariff) were imposed on the product you identified?
In 2012 the Real GDP was $15.5 trillion. This value is a large number. Therefore, economic growth must have been high during the 2012. Briefly describe whether you agree or disagree with this statement.
Demand and Supply in the Cell Phone Market. (Make sure to include a graph with quantity and the initial equilibrium price and the new price and quantity as well as an explanation to support your answer for each question.)
Explain the short-run effect on output, general price level, unemployment, and the interest rate with a substantial increase in the factor cost of production.
Gizmo and Co. is major player in nationwide market for Gizmos. They manufacture 14,000 Gizmos every year. Their number of defects per year is normally distributed with mean 3,000 units and standard deviation 500.
In a large metropolitan area, past records revealed that 45% of all the high school graduates go to college. each sttudent's choice to go to college is independent. From 50 graduates selected at random, what is the probability that exactly 24 will
Make a list of all samples of size 2 that can be drawn from this set of integers. [Sample with replacement; that is, the first number is drawn, observed, and then replaced (returned to the sample set) before the next drawing.]
What determines the speed at which the IS curve shifts out over time if the permanent income is a weighted average of last period's and this period's income.
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