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If Bill can either produce 10 bales in 1 hour or 20 biscuits in 1 hour and Susan can either produce 12 bagels in 1 hour or 28 biscuits in 1 hour , who had comparative advantage in making bagels? in biscuits?
Business Economics, Economics
The following is data a veterinarian collected from some of her clients. it is a rough estimate % of dogs weight and how long the dog lived estimate of dog's weight(xi) life span(yi) 20 ...
The Food Marketing Institute shows that 16% of households spend more than $100 per week on groceries. Assume the population proportion is p = 0.16 and a sample of 600 households will be selected from the population. Us ...
The ABC movie theater has 300 seats. In a typical month, 25 percent of the seats are sold. The price elasticity is estimated to be -0.9. The price of a ticket is $8.00. The manager wants to increase the attendance to 30 ...
A certain process is known to produce non-conforming items 20% of the time. A char- acteristic of the units produced by this process are currently being monitored for quality. Samples of size 15 are selected, and each it ...
Off the production line, there is a 4.6% chance that a candle is defective. If the company selected 50 candles off the line, what is the standard deviation of the number of defective candles in the group?
A sample of 100 randomly selected students found that the proportion of students planning to travel home for Thanksgiving is 0.68. What is the Standard Deviation of the sampling distribution?
Prof G's farmer friend claims that aliens made crop circles in his farm. Using economic theory, prove his farmer friend wrong.
Indifference Curve and Budget Line Annie has an income of $180 an hour. Popcorn costs $6 a bag, and costs $4 a six-pack cola a. Draw a graph of Annie's budget line with six-pack of cola on the x-axis , and popcorn on th ...
How would you explain the concept of a quality adjusted life year? When is it appropriate to use "QALYs" instead of simply improved life expectancy as the outcome measure in an economic evaluation?
A production system has two spares of a critical component that have average uptime 1/lamba = 1 month. Find the probability that the 3 components (the operating one and the two spares) will last more than 6 months. Assum ...
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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 coupon bonds. Under what conditions will a coupon bond sell at a p
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 $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 for 19 years, given a discount rate of 6 percent per annum. As