Other Economics Answers

Let X, the number of flaws on the surface of a randomly selected boiler of a certain type, have a Poisson distribution with parameter µ = 5. Use Appendix Table A.2 to compute the following probabilities: a. P(X ≤ 8) b. P(X = 8) c. P(9 ≤ X)

d. P(5 ≤X ≤ 8) e. P(5 < X < 8)

There are two machines available for cutting corks intended

for use in wine bottles. The first produces corks with diam

eters that are normally distributed with mean 3 cm and stan

dard deviation .1 cm. The second machine produces corks

with diameters that have a normal distribution with mean

3.04 cm and standard deviation .02 cm. Acceptable corks

have diameters between 2.9 cm and 3.1 cm. Which machine

is more likely to produce an acceptable cork?

Let X denote the number of flaws along a 100-m reel of magnetic tape (an integer-valued variable). Suppose X has approximately a normal distribution with = 25 and a = 5. Use the continuity correction to calculate the prob ability that the number of flaws is a. Between 20 and 30, inclusive.

b. At most 30. Less than 30.

The Toyota Motor Corporation makes cars in response to customer orders rather than attempting to sell cars it has already built. If the company received a large increase in orders for its Prius model, what will be expected of its current supply curve on a demand and supply diagram? 

What is a possible drawback of using R2 for comparing different models with the same dependent variable and different number of explanatory variables? Why using adjusted R2 for model evaluation may be better?

Explain what does the expression “OLS is BLUE” mean. State Gauss-Markov assumptions

required for OLS estimator to be BLUE.

What are the implications of high multicollinearity for the OLS estimators of slope coefficients in Multiple Linear Regression model and their variances?

briefly classify the growth pattern of a country by using the relative size of foreign trade sector as a yardstick

How do u solve the balance of a trade, invisible trade balance and balance on current account

Is Privatization good or bad for employment?