Answer and Explanation:
As per the data given in the question,
Sum of the all mean value = 151
Average of the mean value = 151 ÷ 15 = 10.067
Similarly, Sum of the all given range = 151
Average of given range value = 151÷ 15 = 10.067
Control charts for the mean and the range, using the original 15 samples :
Upper control limit(UCL) - Lower control limit(LCL) for X bar is
= 10.067 + A2 × R bar
= 10.067 + (0.223 × 10.067)
= 12.31
LCL - UCL for X bar is
= 10.067 - A2 × R bar
= 10.067 -(0.223 × 10.067)
= 7.82
Set up the R-chart by specifying the center line and three-sigma control limits below :
UCLr = D4 × r
= 1.653 × 10.07
= 16.65
r = 10.067
= 10.07
LCLr = D3 × r
= 0.347 ×10.07
= 3.49
Every country looks for a ways to protect the interest of her citizens. Hence, in this case, the United States engages in trade policy.
<h3>
Trade Policy</h3>
Trade policy is a government's policy regulating international trade. Trade policy is an enbedded term that is used to cater for issues related to international trade. Types and aspects of trade policy include: regionalism, Bilateral free trade and Preferential trade agreements.
Therefore, the correct answer is trade policy.
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Cash balance plan is a retirement plan where workers are credited with a part of their pay annually and a predetermined rate of interest.
<h3><u>What is a Cash balance Plan?</u></h3>
A defined-benefit pension plan with a lifetime annuity option is referred to as a "cash balance pension plan."
<h3><u>What are some features of Cash balance plans?</u></h3>
- Based on defined-benefit needs, the financing caps, funding requirements, and investment risk are established.
- Like a defined-contribution plan, this type of plan is managed on an individual account basis.
- The advantage of these programs is that age-based contribution caps are available.
- Pretax contributions enable those 60 and older to save significantly more money each year than younger people.
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Answer: c. No, since the MC and AVC curve intersect at the minimum of AVC
Explanation:
Marginal cost is the cost of producing one extra unit of a product while average cost is the average of all the units produced so far. Therefore, when Marginal cost is low, it pulls the average costs down with it because it will be lower than the Average costs.
However, as Marginal costs start to rise, average cost will still be low because it is taking into account the lower previous marginal costs. Marginal cost will then keep rising until it intersects the average costs at it's minimum. Once this happens Average cost will start being pulled up because the current high costs will on average eclipse the current low costs.
A required reserve ratio of 7 percent gives rise to a simple deposit multiplier of 14.29.
<h3>What is reserve ratio?</h3>
The reserve ratio is the percentage of reservable liabilities which commercial banks must keep rather than lend or invest. This is a requirement set by the country's central bank, which is the Federal Reserve in the United States. It is also referred to as the cash reserve ratio.
Some key points related to reserve ratio are-
- The reserve requirement is the minimum amount of deposits that a bank must hold, and it is sometimes used interchangeably with the reserve ratio.
- Regulation D of the Federal Reserve Board establishes the reserve ratio.
- Regulation D established uniform reserve requirements with all deposit accounts with transaction accounts and necessitates banks to provide the Federal Reserve with regular reports.
- Suppose the Federal Reserve determined that the reserve ratio should be 11%. This means that if a bank has $1 billion in deposits, it must keep $110 million in reserve ($1 billion x.11 = $110 million).
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