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Lina20 [59]
2 years ago
14

A monopolist finds that a person’s demand for its product depends on the person’s age. The inverse demand function of someone of

age y can be written p = A(y) − q, where A(y) is an increasing function of y. The product cannot be resold from one buyer to another and the monopolist knows the ages of its consumers. If the monopolist maximizes its profits:____.
Business
1 answer:
KiRa [710]2 years ago
7 0

Explanation:

A manufacturer of computer memory chips produces chips in lots of 1000. If nothing has gone wrong in the manufacturing process, at most 7 chips each lot would be defective, but if something does go wrong, there could be far more defective chips. If something goes wrong with a given lot, they discard the entire lot. It would be prohibitively expensive to test every chip in every lot, so they want to make the decision of whether or not to discard a given lot on the basis of the number of defective chips in a simple random sample. They decide they can afford to test 100 chips from each lot. You are hired as their statistician.

There is a tradeoff between the cost of eroneously discarding a good lot, and the cost of warranty claims if a bad lot is sold. The next few problems refer to this scenario.

Problem 8. (Continues previous problem.) A type I error occurs if (Q12)

Problem 9. (Continues previous problem.) A type II error occurs if (Q13)

Problem 10. (Continues previous problem.) Under the null hypothesis, the number of defective chips in a simple random sample of size 100 has a (Q14) distribution, with parameters (Q15)

Problem 11. (Continues previous problem.) To have a chance of at most 2% of discarding a lot given that the lot is good, the test should reject if the number of defectives in the sample of size 100 is greater than or equal to (Q16)

Problem 12. (Continues previous problem.) In that case, the chance of rejecting the lot if it really has 50 defective chips is (Q17)

Problem 13. (Continues previous problem.) In the long run, the fraction of lots with 7 defectives that will get discarded erroneously by this test is (Q18)

Problem 14. (Continues previous problem.) The smallest number of defectives in the lot for which this test has at least a 98% chance of correctly detecting that the lot was bad is (Q19)

(Continues previous problem.) Suppose that whether or not a lot is good is random, that the long-run fraction of lots that are good is 95%, and that whether each lot is good is independent of whether any other lot or lots are good. Assume that the sample drawn from a lot is independent of whether the lot is good or bad. To simplify the problem even more, assume that good lots contain exactly 7 defective chips, and that bad lots contain exactly 50 defective chips.

Problem 15. (Continues previous problem.) The number of lots the manufacturer has to produce to get one good lot that is not rejected by the test has a (Q20) distribution, with parameters (Q21)

Problem 16. (Continues previous problem.) The expected number of lots the manufacturer must make to get one good lot that is not rejected by the test is (Q22)

Problem 17. (Continues previous problem.) With this test and this mix of good and bad lots, among the lots that pass the test, the long-run fraction of lots that are actually bad is (Q23)

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Name one form of collusion
Vera_Pavlovna [14]

Answer:

price fixing

Explanation:

The collusion occurs when firms agree to collaborate in a way that disrupt markets such as fixing prices above the actual price to alter the equilibrium of the market

3 0
3 years ago
Read 2 more answers
Consider an economy with a corn producer, some consumers, and a government. In a given year, the corn producer grows 30 million
lys-0071 [83]

Answer:

a. <u>GDP using product approach</u>

There are no intermediate goods inputs. Corn producer grows 30 million bushels of corn and each bushel of corn worth is $5.

GDP = 30 million * $5

GDP = $150 million

<u>GDP using expenditure approach</u>

i) Consumers buy 20 million bushels of corn

Consumption = 20 million * 5

Consumption (C) = $100 million

ii) Corn producer adds 5 million bushels to inventory

Investment = 5 million * $5

Investment (I) = $25 million

iii) Government buys 5 million bushels of corn  

Government spending = 5 million * $5

Government spending (G) = $25 million

GDP = C + I + G

GDP = $100 + $25 + $25  

GDP = $150 million

<u>GDP using income approach</u>

Profit income = $150 million - $60 million - $20 million

Profit income = $70 million

Government income = Taxes paid by the corn producer = $20 million

GDP = $60 million + $70 million + $20 million

GDP = $150 million

b. Private disposable income = GDP + Net factor payments + Government transfers + Interest on the government debt - Total taxes

Private disposable income = $150 million + 0 + $5 million + $10 million - $30 million

Private disposable income = $135 million

 

Private savings = Private disposable income - Consumption

Private savings = $135 million - $100 million

Private savings = $35 million

Government savings = Government tax income - Transfer payments - Interest on the government debt - Government spending

Government savings = $30 million - $5 million - $10 million - $5 million

Government savings = $10 million

National savings = Private savings + Government savings

National savings = $35 million + $10 million

National savings = $45 million

Government budget surplus = Government savings = $10 million

Government deficit = (-) $10 million

8 0
3 years ago
Computing second-year depreciation and accumulated depreciationAt the beginning of 2016, Air Asia purchased a used airplane at a
Bezzdna [24]

Answer:

1. a.$4,375,000

  b. $7,500,000

 c. $9,800,000

2. $8,750,000

  $18,200,000

  $17,500,000

Explanation:

1. The computation of the depreciation expense for the second year is presented  below:

a) Straight-line method:

= (Purchase value of airplane - residual value) ÷ (useful life)

= ($40,000,000  - $5,000,000) ÷ (8 years)

= ($35,000,000) ÷ (8 years)  

= $4,375,000

In this method, the depreciation is same for all the remaining useful life

(b) Double-declining balance method:

First we have to find the depreciation rate which is shown below:

= One ÷ useful life

= 1 ÷ 8

= 12.5%

Now the rate is double So, 25%

In year 1, the original cost is $40,000,000 so the depreciation is $10,000,000 after applying the 25% depreciation rate

And, in year 2, the $30,000,000 × 25% = $7,500,000

(c) Units-of-production method:

= (Purchase value of airplane - residual value) ÷ (estimated miles)  

= ($40,000,000  - $5,000,000) ÷ ($5,000,000 miles)

= ($35,000,000) ÷ ($5,000,000 miles)  

= $7 per miles

In first year, it would be

= Miles in first year × depreciation per miles

= 1,200,000 miles × $7

= $8,400,000

Now for the second year, it would be  

= Miles in second year × depreciation per miles

= 1,400,000 miles × $7

= $9,800,000

2. The calculation of the accumulated depreciation balance would be

Straight line method:

= $4,375,000 + $4,375,000

= $8,750,000

Double-declining balance method:

= $10,000,000 + $7,500,000

= $17,500,000

Units-of-production method:

= $8,400,000 + $9,800,000

=  $18,200,000

4 0
3 years ago
Custom Engines Company has the following estimated costs for the upcoming year: Direct labor costs $62,800 Direct materials used
jenyasd209 [6]

Answer:

Predetermined manufacturing overhead rate= $33.1 per direct labor hour

Explanation:

Giving the following information:

Salary of factory supervisor $37,800

Heating and lighting costs for factory $22,900

Depreciation on factory equipment $5500

The company estimates that 2000 direct labor hours will be worked in the upcoming year.

<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (37,800 + 22,900 + 5,500) / 2,000

Predetermined manufacturing overhead rate= $33.1 per direct labor hour

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2 years ago
Scenario C At DoubleTalk, Inc., Joe, a supervisor, pushes his employees' performance by constantly checking their work and threa
Mrac [35]

Answer:

in 4 days i will delete brainly warn to friends b btw

Explanation:

4 0
3 years ago
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