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Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or 10 computers. Who has the comparative advantage in the production of shirts? What about for computers?
Business Economics, Economics
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Determine the minimum sample size required when you want to be 95% confident that the sample mean is within one unit of the population mean. Assume a standard deviation of 4.3 in a normally distributed population.
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This problem involves the flipping of a fair coin. Assume that the coin is flipped 3 times, and the random variable X is defined to be 4 times the number of heads minus 5 times the number of tails. How many different val ...
What is the usefulness of the total revenue test for price elasticity of demand? What are the factors that affect price elasticity of demand and price elasticity of supply? What are some applications of each?
Describe Tim Hortons experiences with mergers/acquisitions. Did these combinations create or destroy value? Why?
Four balls are independently projected onto one target, the probability of a hit for each is P1 = 0.1 , P2 = 0.2 , P3 = 0.3 , P4 = 0.4. What are the probabilities P04, P14, P24, P34, P44 that zero, one (1), two (2), thre ...
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