Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

An advertisement for the "30 inch Wonder" that appeared in the September 1983 issue of the journal Packaging claimed that the 30 inch Wonder weighs cases and bags up to 110 pounds and provides accuracy to within 0.25 ounce. Suppose that a 50 ounce weight was repeatedly weighed on this scale and the weight read- ings recorded. The mean value was 49.5 ounces, and the standard deviation was 0.1. What can be said about the proportion of the time that the scale actually showed a weight that was within 0.25 ounce of the true value of 50 ounces?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91724329

Have any Question?


Related Questions in Microeconomics

Question a john has 40 gallons of gasoline g and 20 bags of

Question: a) John has 40 gallons of gasoline (G) and 20 bags of sugar (S). For that market basket, John's MRSSG is 3G/1S. Maria has 40G and 50S. For that market basket, Maria's MRSSG is 1G/1S. Use a numerical example to ...

Question there are 40 identical firms in a competitive

Question: There are 40 identical firms in a competitive market, and there are no entry or exit barriers. Eachcompetitive firm has a cost function C(q) = 32 + 2q2. The market demand is given by Q = 200 -10p. a. Derive eac ...

Assignment - read the following fictional scenarioand write

Assignment - Read the following fictional scenarioand write a report that addresses the questions shown below: The managing director of a Belgian outdoor catering company has to decide whether or not to lease new capital ...

Question one constraint in our economy is time as a society

Question: One constraint in our economy is time. As a society, we make choices about allocation of time between work and other pursuits. In the US, most workers are eligible for overtime pay if they work more than 40 hou ...

Question an electricity producer owns two plants fixed in

Question: An electricity producer owns two plants (fixed in size) but can burn different amounts of fuel in each of them to produce electricity. It must produce a certain amount of electricity or the area will be blacked ...

Question what is the relationship if any between production

Question: What is the relationship (if any) between production technology (i.e. productivity) and cost ? In your analysis define the various cost structures (short-run & long-run); Describe the difference between account ...

Question how does a government agency raise revenue

Question: How does a government agency raise revenue differently from a private company, and how does that affect the way government decisions are made, compared to business decisions? The response must be typed, single ...

Question 1 explain the analogy between the intertemporal

Question: 1. Explain the analogy between the intertemporal optimum of the consumer (choice between current consumption C0and future consumption C1) and the optimum of the consumer at a moment of time (choice between cons ...

Question developing a new product has taken longer and

Question: Developing a new product has taken longer and required more work than was expected at the time the decision to develop was first made. Should the firm raise the price of the product above what it originally pla ...

Question you are the manager of a variable hospital

Question: You are the manager of a variable hospital department, and you just received your monthly budget results. Write a brief description answering the following questions: 1. How will you address the short fall if a ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As