The Widget Company has estimated the following revenue possibilities for the year:
Sales Probability
100 0.15
150 0.20
220 0.30
290 0.20
310 0.15
a. Find expected revenue.
b. Find the standard deviation.
c. Find the coefficient of variation.
a. Expected revenue is $215.50.
b. Standard deviation = 72.90
c. Coefficient of variation = 0.34
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A fixed-weight price index uses a process that adjusts the weights continuously year by year
a. True b. False Indicate whether the statement is true or false
With pollution permits, the supply curve for pollution rights is
a. perfectly elastic. b. perfectly inelastic. c. upward sloping. d. downward sloping.
Suppose Mo is considering whether to see Zombie Revenge III at her local movie theater. Tickets cost $12 each, but Mo isn't sure how much she's going to like the movie. There's a 40 percent chance she'll get $20 worth of enjoyment from seeing the movie, and there's a 60 percent chance she'll only get $10 worth of enjoyment from seeing the movie. Mo's expected value of seeing the movie is:
A. $2. B. $20. C. $4. D. $14.
Which of the following formulas would show price elasticity of supply?
a. 20% + +5% = +25 b. 20% – +5% = +15 c. 20% × +5% = +100 d. +20% ¸ +5% = +4