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What are some of the larger issues that Microeconomics attempts to address? How is this different than what is examined in Macroeconomics? What can the science of Microeconomics use as examples of why this matters/how it has been successful?
Business Economics, Economics
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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 ...
A cartel is branch of an oligopoly. There are still a handful of large firms and many smaller firms. For instance, the diamond industry and the petroleum industries are examples are oligopolies. However, the main differe ...
Determine whether the given value is a discrete or continuous variable. People are asked to state how many times in the last month they visited their family doctor.
The dow jones industrial average has had a mean gain of 432 per year with a standard deviation of 72. a random sample of 40 years is selected. What is the probability that the mean gain for the sample was between 200 and ...
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What is the theory of consumer choice and how it consumers facing trade-offs make decisions and how they respond to changes in their environment?
Assume student employees at wmu make an average of $12 an hour with a standard deviation of $3. Assuming these hourly wages are normally distributed. What is the chance a randomly selected student employee makes more tha ...
Imagine that in the consumption function, autonomous consumption is equal to 17.5, and the marginal propensity to consume is equal to 0.69. If current income (or output) is equal to 253.4, what is the value of aggregate ...
Determine the minimum sample size required when you want to be 75% confident that the sample mean is within twenty units of the population mean. Assume a standard deviation of 327.8 in a normally distributed population
The equation used to predict how long a cold will last is y=-1.8 + 0.09x1 + 3.2x2 - 1.9x3, where x1 is person's temperature on the first day, x2 is number of people seen each day, and x3 is the amount of sleep the person ...
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