Answer: Both inputs and outputs are measured in monetary units.
Explanation: Production function according to Wikipedia is defined as the technological relation between quantities of physical inputs and quantities of output of goods.
Let p1 be the proportion of American adults that were cigarette smokers in 2001
Let p2 be the proportion of American adults that were cigarette smokers in 1983
h0= p1= p2 (The null hypothesis assumes that there is no difference in the proportion of American adults that were cigarette smokers in 2001 and 1983.
ha= p1 < p2 (The alternative hypothesis assumes that the proportion of American adults that were cigarette smokers in 1983 is higher than those in 2001.)
Answer: As the Oxford dictionary states it, Probability means ‘The extent to which something is probable; the likelihood of something happening or being the case’.
In mathematics too, probability indicates the same – the likelihood of the occurrence of an event.
Examples of events can be :
Tossing a coin with the head up
Drawing a red pen from a pack of different coloured pens
Drawing a card from a deck of 52 cards etc.
Either an event will occur for sure, or not occur at all. Or there are possibilities to different degrees the event may occur.
An event that occurs for sure is called a Certain event and its probability is 1.
An event that doesn’t occur at all is called an impossible event and its probability is 0.
This means that all other possibilities of an event occurrence lie between 0 and 1.
Explanation:
Answer:
b. No, the return is less than the required rate of 9%
Explanation:
Projected sale = 100000
Projected exp = 86000
Profit = 14000
Assets= 200000
Return on assets = 14000/200000 = 7%
Expected return = 9%
Hence, project should not be taken
