The average cost of a certain model car was 18000 ten years, Ask an Expert

Economics

The average cost of a certain model car was $18,000 ten years ago. This year the average cost is $30,000.

(a) Calculate the average monthly inflation rate ( fm) for this model.

(b ) Given the monthly rate fm , what is the effective annual rate, f, of inflation for this model.

(c ) Estimate what these will sell for 10 years from now, expressed in today's dollars. Contributed by D. P. Loucks, Cornell University

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M92638979

Have any Question?Write your Review or question?

Related Questions in Business Economics

The probability that someone made a purchase at a store is

The probability that someone made a purchase at a store is 0.36. You randomly select 15 people who went to the store. The random variable x represents the number of people who made a purchase. a. Find the probability tha ...

Assume p 65 - 2q the cost per additional unit mc is zero

Assume P = 65 - 2Q. The cost per additional unit (MC) is zero for the first five units, and then $5 per unit after that. There are fixed costs of $50. Once the optimal level of output is determined, how much profit does ...

A study claims that 77 of children under the age of 13 in

A study claims that 77 % of children under the age of 13 in British Columbia have been vaccinated from the chicken pox. A survey of randomly selected residents of a certain city included 652 children who were under the a ...

Patients are randomly assigned to one of the four treatment

Patients are randomly assigned to one of the four treatment groups to cure a disease: 1) Control 2) Experimental 1 3) Experimental 2 4) Experimental 3 There are 200 patients in the trial; 20 are randomly assigned to the ...

Model this situation using a game tablehawk and dovenbsptwo

Model this situation using a game table. Hawk and Dove: Two animals are fighting over some prey. Each can be passive or aggressive. Each prefers to be aggressive if the other is passive, and passive if the other is agg ...

In one of your classes the syllabus states that hw is worth

In one of your classes the syllabus states that HW is worth 10%,quizzes 20%, test 40% and the final 30%. Your grades on the HW is 80, quizzes 75 and tests 68. What is your current grade in the class? What do you need to ...

Suppose a retailer claims that the average wait time for a

Suppose a retailer claims that the average wait time for a customer on its support line is 179 seconds. A random sample of 57 customers had an average wait time of 169 seconds. Assume the population standard deviation fo ...

Benefits of abating emission mb500-20acost of abating

Benefits of abating emission: MB=500-20A Cost of abating emission: MC=200+5A What are the marginal benefit and marginal cost of abatement at socially efficient level of abatement? What is the net social benefit at the ef ...

Suppose the amount of sun block lotion in plastic bottles

Suppose the amount of sun block lotion in plastic bottles leaving a filling machine has a normal distribution. The bottles are labeled 300 milliliters (ml) but the actual mean is 302 ml and the standard deviation is 2 ml ...

Sally purchases hardwood lumber for a custom

Sally purchases hardwood lumber for a custom furniture-building shop. She uses three suppliers, Northern Hardwoods, Mountain Top, and Spring Valley. Lumber is classi ed as either clear or has defects. Sally estimates tha ...

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

Recent Questions

Ask Business Economics Expert