Describe what you would rather maximize your total
Describe what you would rather maximize your total or marginal utility? Discuss how do you think you would estimate when to stop consuming if you were at an all you can eat buffet?
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The company set length of its warranty to answer in (a). Now they want to enhance the reliability of its TV. How much they need to enhance the mean so that they will only replace 0.5% of their TVs given the same warranty?
Assume that the inventories fall by $2 billion, consumption increases by the $8 billion, unemployment insurance payments decline by $4 billion, and imports rise by the $1 billion. By how much should measured the GDP change?
Explain what part of the business cycle is the U. S. economy currently in? Estimate your answer by using the three economic indicators.
The final points in a statistical course are normally distribution with a mean of 70 and a standard deviation of 10. The professor wants to grade on a curve, and decides to give out 10% A's, 30% B's, 40% C's, 15% D's and 5% F's. Determine the cut-
The life in hours of a thermocouple employed in furnace is known to be approximately normally distributed, with standard deviation ? = 20 hours. A random sample of 15 thermocouples resulted in the following data:
What is the probability that exactly 7 people from this sample are unemployed by using the normal approximation to the binomial distribution?
Assume that a player draws card at random from pack of cards, and wins $15 if an ace, king, queen, or jack is obtained, and otherwise wins face value of the card in dollars. What is the expected amount won by the player? Would you pay $9 to play
If a minimum wage law is passed that needs the monopolist to pay at least $5.50 per hour, discuss how will these affect employments?
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