Suppose the mean income of firms in the industry for a year is 55 million dollars...

Suppose the mean income of firms in the industry for a year is 55 million dollars with a standard deviation of 3 million dollars. If incomes for the industry are distributed normally, what is the probability that a randomly selected firm will earn less than 60 million dollars? Round your answer to four decimal places.

Expert Solution

milcah answered 1 year ago

Suppose the mean income of firms in the industry for a year is 25 million dollars...

Suppose the mean income of firms in the industry for a year is 25 million dollars with a standard deviation of 9 million dollars. If incomes for the industry are distributed normally, what is the probability that a randomly selected firm will earn less than 34 million dollars? Round your answer to four decimal places.

The Arc Electronic Company had an income of 72 million dollars last year. Suppose the mean...

The Arc Electronic Company had an income of 72 million dollars last year. Suppose the mean income of firms in the same industry as Arc for a year is 85 million dollars with a standard deviation of 9 million dollars. If incomes for this industry are distributed normally, what is the probability that a randomly selected firm will earn more than Arc did last year? Round your answer to four decimal places.

An economist wants to estimate the mean per capita income (in thousands of dollars). Suppose that...

An economist wants to estimate the mean per capita income (in thousands of dollars). Suppose that the mean income is found to be $23.4 $23.4 for a random sample of 976 976 people. Assume the population standard deviation is known to be $10 $10. Construct the 95% 95% confidence interval for the mean per capita income in thousands of dollars. Round your answers to one decimal place.

Suppose in Pakistan, all the firms are identical with identical cost curves which mean industry is...

Suppose in Pakistan, all the firms are identical with identical cost curves which mean industry is perfectly competitive. Now please consider this following information about the industry: A representative firm’s total cost is given by the equation TC = 100 + q2 + q where q is the quantity of output produced by the firm. You also know that the market demand for this product is given by the equation P = 1000 – 2Q where Q is the market...

Suppose in one economy, if people have no disposable income, they still spend 5 million dollars....

Suppose in one economy, if people have no disposable income, they still spend 5 million dollars. For every dollar they earn, these people save 0.2 dollars and spend 0.8 dollars. The investment level is 2 million dollars, and government spending is 1 million dollars. The government takes 1 million dollar tax. There is no import or export. What is the output in the goods market equilibrium for this economy? Show your computation

Suppose the industry is currently unregulated and there are only 2 firms in the industry. Both...

Suppose the industry is currently unregulated and there are only 2 firms in the industry. Both firms are emitting 1,100 tons of pollution, thus total pollution in the industry is 2,200 tons. The marginal cost of pollution reduction for the 2 firms are: MCR1=1.35Q1andMCR2=0.85Q2 Now, suppose the government issued 700 permits to each firm (total pollution allowed in industry is 1,400 tons) after trading what is the amount of pollution firm 1 will reduce?

Sales 3 million dollars per year Cost of goods 1.7 million dollars per year Cash Expenses...

Sales 3 million dollars per year Cost of goods 1.7 million dollars per year Cash Expenses 725 thousand dollars per year Depreciation Expense 125 thousand dollars per year Cash on the balance sheet 150 thousand dollars Receivables on the balance sheet 75 thousand dollars Inventory on the balance sheet 300 thousand dollars Fixed asset net of depreciation on the balance sheet 450 thousand dollars Total Current Liabilities on the balance sheet 175 thousand dollars Total Long Term Debt on the...

Suppose your company needs to raise $55 million and you want to issue 30-year bonds for...

Suppose your company needs to raise $55 million and you want to issue 30-year bonds for this purpose. Assume the required return on your bond issue will be 5 percent, and you’re evaluating two issue alternatives: A semiannual coupon bond with a coupon rate of 5 percent and a zero coupon bond. Your company’s tax rate is 21 percent. Both bonds will have a par value of $2,000. a-1. How many of the coupon bonds would you need to issue...

Suppose your company needs to raise $55 million and you want to issue 25-year bonds for...

Suppose your company needs to raise $55 million and you want to issue 25-year bonds for this purpose. Assume the required return on your bond issue will be 7 percent, and you’re evaluating two issue alternatives: A semiannual coupon bond with a 7 percent coupon rate and a zero coupon bond. Your company’s tax rate is 30 percent. Assume a par value of $1,000. a-1. How many of the coupon bonds would you need to issue to raise the $55...

Suppose that there are two industries, A and B. There are five firms in industry A...

Suppose that there are two industries, A and B. There are five firms in industry A with sales at $5 million, $2 million, $1 million, $1 million, and $1 million, respectively. There are four firms in industry B with equal sales of $2.5 million for each firm. The four-firm concentration ratio for industry A is: A. 0.9. B. 1.0. C. 0.8. D. 0.7. I don't understand why the answer is 0.9 can someone explain to me.

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