Answered: The table below shows the probability…

The table below shows the probability distribution of X. Find V(X), that is, the variance of X to three decimal places. P(X = x) -4 0.08

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: Suppose the central bank subscribes to a monetarist approach to monetary policy. The central bank be...

A: Disclaimer: Since you have posted a multi-part question, I am providing you with the answer to the f...

Q: How would you solve PART D (the one with externality) of this question? Thx

A: The budget line shows the combination of two goods that can be purchased with the given resources an...

Q: What are the interrelationships of digital economy and covid19 in the United Kingdom?

A: Government as well as central bank have the responsibility to manage the financial and economic func...

Q: Ginger and Pepper are planning to garden and paint their house this weekend. They each have SIx hour...

A: This is clearly the situation of Production possibility frontier and the situation of Pareto efficie...

Q: Problem is given: A dealer deals in only two items: sewing machines and table fans. He has $ 5,760 t...

A: Answer is given in the final step:

Q: 2. What is rent seeking? 3. What is market failure?

A: Rent seeking often results in inefficiencies in the market. It creates pricing disadvantages for the...

Q: Determine the interest rate per period for each of the following annual interest rates. A. 3% intere...

A: Given values are as follows: Interest rate = 3% It is required to find the interest amount for the s...

Q: In the figure, as the price level increases the aggregate demand curve will O A. not shift. O B. not...

A: The curve that depicts the quantities of goods and services being demanded by individuals at various...

Q: Explain Marshall’s analysis of elasticity.

A: Please find the answer below.

Q: 2A. In the lower mainland the equilibrium market rental rate is at $1,500/month and the equilibrium ...

A: Market rental rate = $1500/month Equilibrium quantity = 8000 units Rent control rate = $1800/ month

Q: What is the impact on the labour market due to a reduction the productivity of workers?

Q: 6) If a market is in disequilibrium, economists would predict that the product's price would to reac...

A: Equilibrium is the economic state in which market demand and market supply are equal, resulting in p...

Q: The population of a city in 1983 and 2000 was 36 and 51.4 crores respectively. Find the annual simpl...

Q: An analysis of monthly wages paid to the workers of two firms A aud B belonging to the same industry...

Q: Find the value of the primary deficit if the fiscal deficit is 186 and the interest payment by the ...

A: Given: Fiscal deficit=186 Interest payment by the government=131

Q: what refers to actual losses as well as unrealized profit?

A: Actual loss on costs brought about is the sum that your costs have expanded from what you would typi...

Q: 2. The following data is given for the monetary sector of the economy. Transaction demand for money,...

Q: In the city of Guangzhou, there are 1 million civilians (over 16 years old, non-institutionalized). ...

A: 1. Labor force participation rate=Employed+UnemployedLabor force (16 and above)x100 ...

Q: point(s) possible The table has data from the nation of Atlantica. Disposable income (trillions of 2...

A: Here, the given data shows the consumption level at different disposable income in the nation of Atl...

Q: volatity during a to Selected period a Pay foxed volatility during a Fixed volatility and nominal va...

A: Correct answers given below,

Q: Using a Trend Line The demand for Year Demand electrical power at N.Y.Edison over the years 1997 – 2...

A: Introduction The demand for electric power at N. Y. Edition over the year (1997 - 2003 ) has given. ...

Q: Pr - 2 Pw = 1.80 P; = 1.50 40 50 80 90 This graph shows the Home's market demand and supply. Home is...

A: Efficiency loss refers to a loss to the society due to inefficient quantity is produced.

Q: 10 Supply 7.5 2.5 Demand 200 400 600 800 Q When the market in the graph above is in equilibrium, con...

A: Consumer surplus shows the difference between consumer willingness to pay and the actual price paid ...

Q: I’m trying to practice how to derive Lorn run and short run cost functions could I have explanations...

A: Production function : Q=L1/2K1/2 Marginal Product of Labor=MPL=dQ/dL=1/2L-1/2K1/2 Marginal Product o...

Q: a. At a required return of 12 percent, what is the NPV of the project? (Do not round intermediate ca...

A: All cash flows are discounted with an appropriate discounting rate to arrive at their present value,...

Q: Suppose a company's revenue function is given by R(q)=−q3+400q2R(q)=-q3+400q2 and its cost function ...

A: Profit maximising condition where marginal cost is equal to marginal revenue And Equilibrium poin...

Q: For FW Method, if FW (i = MARR) = −30, then the project is economically _____________. justified ba...

A: In the financial and economy analysis, when talking about future worth, it is the analysis of the in...

Q: Which statement is CORRECT? O A) Automatic stabilizers indicate deliberate action by policy makers. ...

A: Answer: In the case of discretionary fiscal policy, the government takes deliberate action to either...

Q: | calculate the inflation/deflation if growth rate was 0.2 percent a year, the money growth rate was...

A: Inflation refers to the increase in the price level of goods and services of a country over a period...

Q: Problem: You have a business job where you are helping track revenue and sales. Suppose that p is th...

A: There are two questions here, and according to the guidelines, we will answer the 1st question for y...

Q: Suppose that a consumer can earn a higher wage rate for working overtime. That is, for the first q h...

A: a) The diagram underneath portrays the ideal decision of utilization and leisure. The lack of intere...

Q: Will countries be better off under a multilateral economic liberalization regime or under a system o...

A: We show that Countries will be better off under the regional economic integràtion plan. Realconsolid...

Q: Isoquant curves The Firm can trade two doctors for five gardeners and output remains constant W...

A: Introduction Isoquant curves: Isoquant curves shows input combinations of two commodities which are ...

Q: (3) A firms production function is Q(L) =15L' -0.1Ľ' , where output (Q) is a function of a single in...

A: Answer: Given, Production function: QL=15L2-0.1L3 (1). To find the number of workers required to max...

Q: If the Federal Reserve conducts an open-market purchase, bank reserves and the money supply O A) dec...

A: The answer is - B) increase, increases If the federal reserve conduct ma open market purchase, bank ...

Q: 4. (a) International trade makes all the consumers, the producers and the country better off. Why or...

A: Labor force refers to the sum of all the workers in a country at any point of time. It is the sum of...

Q: Consider a competitive market for which the quantities demanded and supplied (per year) at various p...

A: Given information:

Q: Please solve using a national income accounting That tax increases (with no change in transfer paym...

A: The national income accounting measures the overall health of the economy. To measure the national i...

Q: TD ULhon betwoen a normal and an infenior good is A. when income increases, demand for a normal good...

A: The above problem is based on two types of goods: Normal Goods Inferior Goods Normal goods are tho...

Q: Disadvantages of a mixed economy

A: Mixed economy: The economy in which some parts are controlled by the private sector and some by the ...

Q: Consider a market in which a firm has monopoly power. Suppose in addition that the firm produces und...

A: Monopoly basically refers to a market in which there is only single seller/firm and that single sell...

Q: Back in the 1950s, General Motors (GM) was at its peak. It was widely viewed as a shining example of...

A: Competition is frequently confused with rivalry. When there are two or more firms, there can be comp...

Q: Which of the following will not cause an increase in equilibrium G a) An increase in government expe...

A: As per the expenditure method of computing national income. Y= C+I+G+NX Here, C = domestic consump...

Q: Consider an economy with only two goods: bread and wine. In 1982, the typical family bought 4 loaves...

A: Consumer price index (CPI) is used to estimate the average variation between two given periods in th...

Q: Consider the model of public goods in the last section of this chapter. (a) Suppose that preference...

A: The correct answer is given in the second step.

Q: Latin American and Caribbean citizens who migrate to the United States earn salaries there that are ...

A: Individuals migrate from one country to another in order to take advantage of superior economic oppo...

Q: All of the following are examples of the failures resulting directly from variations of pegged rate ...

A: A pegged exchange rate, sometimes known as a fixed exchange rate, is a currency system in which a co...

Q: The inverse demand for energy-efficient refrigerators is P = 2,000 – 10Q, where Q measures refrigera...

A: The marginal external benefit is added to marginal private benefit to get marginal social benefit. ...

Q: Assume that Canadian government taxes away $0.15 of each dollar of new income, that 35% of the remai...

A: The quantity of money received by a person, organization, or corporation over a period of time is re...

Q: Refer to the information provided in Table 8.1 below to answer the questions that follow. Table 8.1 ...

A: Disclaimer :- as you posted multipart questions we are supposed to solve the first 3 questions only ...

Question

The table below shows the probability distribution
of X. Find V(X), that is, the variance of X to three
decimal places.
P(X = x)
%3D
-4
0.08
1
0.1
0.3
12
0.52

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Using the standard normal distribution table, compute the following probabilities P(Z ≥1.92) is:
the following probability distribution represents the number of people living in a household (x), and the probability of occurrence (p(x). compute the expected value (mean), the variance, and standard deviation for the random variable. calculations for the mean.x 1 2 3 4 5p(x) .33 .29 .27 .07 .04
Beer bottles are filled so that they contain an average of 330 ml of beer in each bottle. The amount of beer in a bottle is normally distributed with a standard deviation of 2.9 ml. 21 What is the probability that a randomly selected 6-pack of beer will have a mean amount in 6 bottles less than 328ml? a 0.0292 b 0.0365 c 0.0456 d 0.0570
If the mean of the following probability distribution is 3.44, what is the variance? Select one: a. 1.25 b. 9.64 c. 13.08 d. 16.52
Anticipated consumer demand in a restaurant for free-range steaks next month can be modeled by a normal random variable with mean 1,200 pounds and standard deviation 100 pounds. a. What is the probability that demand will be between 1,100 and 1,300 pounds? Calculate in 4 decimal place. b. The probability is 0.10 that demand will be more than how many pounds?
The proportion of vehicles which drive above the speed limit on a freeway is 85%. Suppose 100 vehicles are randomly clocked. 20 If each speeding vehicle is issued a $185 speeding ticket, the expected value of the ticket amount is $________. a $15,725 b $14,560 c $13,480 d $12,485
A car salesperson estimates the following probabilities for the number of cars that she will sell in the next week: Number of cars 0 1 2 3 4 5 Probability 0.10 0.20 0.35 0.16 0.12 0.07 a. Find the expected number of cars that will be sold in the week.b. Find the standard deviation of the number of cars hat will be sold in the week. c. The salesperson receives a salary of $250 for the week, plus an additional $300 for each car sold. Find the mean and standard deviation of her total salary for the week. d. What is the probability that the salesperson’s salary for the week will be more than $1,000?
The closing price of Martin's Sporting Goods Inc. common stock is uniformly distributed between $25 and $36 per share. What is the probability that the stock price will be more than $32?
A company that manufactures and sells T-shirts for sporting events, is providing shirts for an upcoming tournament. Each shirt will cost $7 to produce and will be sold for $13. Any unsold shirts at the end of the tournament can be sold for $5 apiece in the near future. The company assumes the demand for the shirts will be 1,500,3,000,4,500, or 6,000. The company also estimates that the probabilities of each of these sales levels occurring will be 20%, 25%,25%, and 30%, respectively. Determine the expected monetary value of the project if the company chooses to print 4,500 shirts for the tournament. The expected monetary value is---- (Type a whole number.)
An operation manager at an electronics company wants to test their amplifiers. The design engineer claims they have a mean output of 364 watts with a standard deviation of 12 watts. What is the probability that the mean amplifier output would be greater than 364.8 watts in a sample of 52 amplifiers if the claim is true? Round your answer to four decimal places.
aaaaas An operation manager at an electronics company wants to test their amplifiers. The design engineer claims they have a mean output of 451 watts with a variance of 144 . What is the probability that the mean amplifier output would be less than 449.8 watts in a sample of 76 amplifiers if the claim is true? Round your answer to four decimal places.
The accompanying table gives the outcomes and probability distribution of the number of times a student checks her e-mail daily: Outcome (X) (number of email checks) Probability Distribution f(x) 0 0.05 1 0.15 2 0.30 3 0.25 4 0.15 5 0.08 6 0.02 Calculate the expected value and the variance.