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The average annual cost of automobile insurance is $687. Use this value as the population mean and a… Show more The average annual cost of automobile insurance is $687. Use this value as the population mean and assume that the population standard deviation is $230. Consider a sample of 121 automobile insurance policies. What is the probability that the sample mean is within $40 of the population mean? • Show less

Suppose a firm uses both labor L and capital K as inputs to production. Its production function is o… Show more Suppose a firm uses both labor L and capital K as inputs to production. Its production function is of the Cobb-Douglas form, i.e. F (K,L) = K^1/3 L^2/ 3.The firm charges a price P for every good it sells, pays a nominal rental rate R to every unit of capital it hires and pays a nominal wage W to every unit of labor it hires. (a) Express the firm’s real revenues, real costs and real profits in terms of the variables defined above. (b) Assume the firm operates in goods markets,capital markets and labor markets that are perfectly competitive – that is, it takes R/P and W/P as given. Derive two conditions that will need to hold in order for the firm to maximize its profits ( Set the partial derivative of profits with respect to L equal to zero and the partial derivative of profits with respect to K equal to zero). (c) The first of these conditions should include the real wage rate W/P as well as K and L. This is the labor demand equation. The second condition should involve the real rental rate of capital R/P as well as K and L. This is the capital demand equation. Let us assume that labor is fixed L = 8 and focus on the capital demand equation. Plot the capital demand function when L = 8 (Show at least three points of the curve). (d) Suppose the supply of capital is inelastic and given by K^S = 27. Plot the capital supply line on the same graph as the capital demand curve. Find the real rental rate of capital that clears the market and show it on the graph. (e) How many goods will that firm produce?  • Show less

Each of the following scenarios occurred this year, but it fails to fit one of the criteria for the… Show more Each of the following scenarios occurred this year, but it fails to fit one of the criteria for the definition of U.S. GDP. Please place the following scenarios under the criteria it fails to meet. • Show less

Suppose that the income of the average Canadian household increases because a larger percentage of w… Show more Suppose that the income of the average Canadian household increases because a larger percentage of women enter the labour force. What do you think will happen to demand for the following products or services? What does your answer imply about income elasticity of demand in each case? What does your answer imply about a shift of the demand curve in each case? Explain. a. raw potatoes in 10kg bags b. oven-ready french fries in 2kg bags c. skinless, boneless chicken breasts d. whole, uncooked chicken • Show less

= Tobacco. The price of Wheat is $1 per unit… Show more Dan’s utility function is xwxt, where xw = Wheat and xt = Tobacco. The price of Wheat is $1 per unit, and the price of Tobacco is $2 per unit. His income is $40 per day. Write out dan’s budget equa

Can anyone answer this question?

mktg problem

According to Mill, for what reasons can a government legitimately use coercive force on its citizens… Show more According to Mill, for what reasons can a government legitimately use coercive force on its citizens? • Show less

Operating Profit M… Show more Margins 2013 2012 2011 2009 2007 Gross profit margin Operating Profit Margin Net profit margin *Gross profit margin = (sales- COGS)/sales *Operating profit margin= Income from operations/sales *Net profit margin= Net profit/ sales revenue Liquidity Ratio 2013 2012 2011 2009 2007 Current Ratio Working Capital *Current Ratio= Current asset/ Current liability Working Capital= Current assets- Current liability Leverage Ratio 2013 2012 2011 2009 2007 Total debt-to-asset Ratio Long-term debt-to-capital ratio Debt-to-equity ratio Long-term debt-to equity ratio *Total debt-to-assets ratio= total debt/total assets *Long-term debt-to capital ratio= long-term debt/ (long-term debt+ total stockholders’ equity) *Debt-to-equity ratio= total debt/ total stockholders’ equity *Long-term debt-to-equity ratio= long-term debt/total stockholders’ equity Returns and other financial ratio 2013 2012 2011 2009 2007 Total return on assets ROA ROE Asset Turnover *Total return on assets= (Profits after taxes+ Interest)/Total Assets *ROA= Profits after taxes/ total assets *ROE= Profits after taxes/ Total stockholders’ equity *Asset Turnover= net sales/average total assets • Show less