The average price for a gallon of gasoline in the United States is $3.74 and in Russia it is $3.4. Assume these averages are the population means in the two countries and that the probability distributions are normally distributed with a standard deviation of $0.25 in the United States and a standard deviation of $0.20 in Russia.

a. What is the probability that a randomly selected gas station in the United States charges less than $3.65 per gallon (to 4 decimals)?

b. What percentage of the gas stations in Russia charge less than $3.65 per gallon (to 2 decimals)?

c. What is the probability that a randomly selected gas station in Russia charged more than the mean price in the United States (to 4 decimals)?

1) In a recent poll, the Gallup organization found that 45% of adult Americans believe that the overall state of moral values in the United States is poor. Suppose a survey of a random sample of 25 adult Americans is conducted in which they are asked to disclose their feelings on the overall state of moral values in the United States. Answer the questions below, showing work. Bare answers are not acceptable. (Showing work means writing the calculator command you used with correct input values in the correct order.)

a) Explain why this is a binomial experiment.

b) Find and interpret the probability that exactly 15 of those surveyed felt the overall state of moral values in the United States is poor.

c) Find and interpret the probability that no more than 10 of those surveyed felt the overall state of moral values in the United States is poor.

d) Find and interpret the probability that more than 16 of those surveyed felt the overall state of moral values in the United States is poor.

e) Find and interpret the probability that 13 or 14 of those surveyed felt the overall state of moral values in the United States is poor.

f) Would it be unusual to find 20 or more adult Americans who believe the overall state of moral values in the United States is poor? Why or why not?

g) Now based on a random sample of 500 adult Americans, compute the mean and standard deviation of the random variable X, the number of adults who believe the overall state of moral values in the United States is poor. Interpret the mean.

h) Would it be unusual to identify 240 adult Americans who believe the overall state of moral values in the United States is poor, based on a random sample of 500 adult Americans? Why? Now using the Normal Approximation to the Binomial, approximate the probability that:

i) Exactly 250 of those surveyed feel the overall state of moral values in the United States is poor.

j) Between 220 and 250, inclusive, of those surveyed feel the overall state of moral values in the United States is poor.

k) At least 260 adult Americans who believe the overall state of moral values in the United States is poor, based on a random sample of 500 adult Americans. Would this be unusual? Why?

2 ) According to www.meretrix.com traffic fatalities occur at a rate of 1.32 fatal accidents per 100 million miles. Find the probability that, during the next 100 million miles, there will be

a) exactly zero accidents. Interpret the results.

b) at least one fatal accident. Interpret the results.

C) more than one fatal accident. Interpret the results.

5. In the rest of the world, the tax on gasoline is considerably higher than in the United States, and gas consumption is considerably lower. Why doesn't the United States increase the gas tax?

Both the United States and India produce two goods: tractors and rice. The IJnited States can produce either 8 tractors or 16 pounds of rice. India can produce either 4 tractors or 20 pounds of rice. Rice Country (pounds) Tractors Now suppose that both countries open up to trade, and the United States and India completely specialize in the production of the good for which each has a comparative advantage. Select... should produce rice. should produce tractors, and Select... United States India 16 20 8 4 Suppose that the United States and India decide to trade 1 tractor for 3 pounds of rice (IT = 3R) and that India needs 3 tractors. India's gains from trade are pound(s) of rice. The United States gains from trade are pound(s) of rice. tractor(s) and tractor(s) and (Do NOT press Enter after typing the answer in each cell. Use Tab or take the cursor to the next cell.)

1 If you became president of the United States, what would you do to alleviate poverty and reduce income inequality? 2) If you became president of the United States, what would you do to address the problems with our health care system? 3) If you became president of the United States, what would you do to address wage discrimination and improve our labor force?

International Taxation Question

A foreign corporation can structure its U.S. operations as either a branch or a subsidiary. What are the tax advantages of operating in the United States through a separately incorporated subsidiary? What are the tax advantages of operating in the United States through an unincorporated branch? What general business factors should be considered when choosing between the branch and subsidiary forms of doing business in the United States?

For each question be able to explain the significance of what is being asked. In other words, what are the consequences/legacy of the topic/event?

1. What was the reason(s) for United States imperialism (why did the United States hold imperial ambitions)? Explain United States imperial intervention in two regions in order to justify your argument. How do these examples relate back to your proposed reason for empire?

Comment on the relationship between 1920s-1940s economics and today's economic conditions. Are there any similarities that you notice? Any key differences?