1. Consider the market supply curve which passes through the intercept and from which the market equilibrium data is known, this is, the price and quantity of equilibrium 𝑷𝑬=𝟓𝟎 and 𝑸𝑬=𝟐𝟎𝟎𝟎.
a. Considering those two points, find the equation of the supply.
b. Draw a graph of this line.
Explain the problem with imposing competitive pricing in the case of a natural monopoly.
. Assume that arrivals occur according to a Poisson process with an average
of seven per hour. What is the probability that exactly two customers arrive in the two-hour period
of time between
(a) 2:00 P.M. and 4:00 P.M. (one continuous two-hour period)?
(b) 1:00 P.M. and 2:00 P.M. or between 3:00 P.M. and 4:00 P.M. (two separate one-hour periods
that total two hours)?
Explain the problem with imposing competitive pricing in the case of a natural monopoly.
In southern California, a growing number of individuals pursuing teaching credentials are choosing paid internships over traditional student teaching programs. A group of eight candidates for
three local teaching positions consisted of five who had enrolled in paid internships and three who
enrolled in traditional student teaching programs. All eight candidates appear to be equally qualified, so three are randomly selected to fill the open positions. Let Y be the number of internship
trained candidates who are hired.
(a) Does Y have a binomial or hypergeometric distribution? Why?
(b) Find the probability that two or more internship trained candidates are hired
(c) What are the mean and standard deviation of Y ?.
Prove that x(1 + x) > (1 + x) In(1 + x) > x
A corporation is sampling without replacement for n = 3 firms to determine the one from which to
purchase certain supplies. The sample is to be selected from a pool of six firms, of which four are
local and two are not local. Let Y denote the number of nonlocal firms among the three selected.
(a) P(Y = 1).
(b) P(Y ≥ 1).
(c) P(Y ≤ 1).
In an assembly-line production of industrial robots, gearbox assemblies can be installed in one
minute each if holes have been properly drilled in the boxes and in ten minutes if the holes must be redrilled. Twenty gearboxes are in stock, 2 with improperly drilled holes. Five gearboxes must be selected from the 20 that are available for installation in the next five robots.
(a) Find the probability that all 5 gearboxes will fit properly.
(b) Find the mean, variance, and standard deviation of the time it takes to install these 5 gearboxe
The recent global development of Russia invading Ukraine has led to USA and European countries imposing sanctions on Russia. Given that Russia is a major player in OPEC, discuss the implication of this in South African economy.
5) You have been appointed the chief IT manager of Housing Finance Corporation. At the moment, the operations are manual and the management would like you to automate them.
Assume the following details:
Ø Employees Names
Ø Box Number
Ø Town
Ø Personnel Number
Ø Department
Ø Basic Salary
Ø Consolidated Allowances
Required:
i) Write a JAVA class declaration for the above. (6 mks)
ii) Write appropriate function definitions. (5 mks)
iii) Write the appropriate driver program (main function