10. Cally Culus is mixing stuff again. She has a large bucket containing 200 liters of water in which 30 grams of salt is dissolved. A brine solution containing 2 gram of salt per liter is being pumped into the tank at a rate of 5 liters per minute. The well mixed solutions is then pumped out at the same rate of 5 liters per minute. Let A represent the number of grams of salt in the tank and let t represent the time in minutes. Set up a differential equation to model this situation. (a)
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- What is the total effect on the economy of a government tax rebate of $500 to each household in order to stimulate the economy if each household will spend of the rebate in goods and services?We wish to demonstrate that the average time to graduate from school is afected by the students who have taken AP calculus in hgh school. Specially, we wish to demonstrate the students who have taken AP calculus in high school graduate an average of more than .25 years sooner than students who have not taken AP calculus in high school. If we let μ1 denote the average time to graduate for students who have not taken AP calculus and μ2 dentoe the average time to graduate for students who have taken AP calculus, what is the apropriate null hypothesisSuppose a company charges a premium of $150 per year for an insurance policy for storm damage to roofs. Actuarial studies show that in case of a storm, the insurance company will pay out an average of $8000 for damage to a composition shingle roof and an average of $12,000 for damage to a shake roof. They also determine that out of every 10,000 policies, there are 7 claims per year made on composition shingle roofs and 11 claims per year made on shake roofs. What is the company’s expected value (i.e., expected profit) per year of a storm insurance policy? What annual profit can the company expect if it issues 1000 such policies? Determine the probability of a composition shingle roof claim out of 10,000 = ______ Determine the probability of a shake roof claim out of 10,000 = ______ How many claims are made out of 10,000? = _______ What is the probability of no claims out of 10,000? = _______ How much does each shingle roof claim cost the company, don’t forget each person pays $150…
- We wish to demonstrate that the average time to graduate from Tulane is affected by the students having taken AP calculus in high school. Specially, we wish to demonstrate that students who have taken AP calculus in high school graduate an average of more than 0.25 years sooner than students who have not taken AP calculus in high school. If we let denote the average time to graduate for students who have not taken AP calculus and denotes the average time to graduate for students who have taken AP calculus, then select the appropriate alternative hypothesis.The cashier line of a canteen can facilitate up to 60 customers an hour. Frequenters of the canteen arrive at an average of 50 an hour. Suppose that management wants to evaluate the desirability of opening a second order-processing station so that two customers can be served simultaneously. Assume a single waiting line with the first customer in line moving to the first available server. a. What is the average arrival time in minutes of customers? b. What is the average service time in minutes of the canteen? c. What is the probability that the canteen has a customer?A bank with a branch located in a commercial district of a city has the business objective of developing an improved process for serving customers during the noon-to-1pm lunch period. Management decides to first study the waiting time in the current process. The waiting time is defined as the number of minutes that elapse from when the customer enters the queue until he/she reaches the teller’s window. In addition, suppose that another branch, located in a residential area, is also concerned with improving the process of serving customers in the noon-to-1 pm lunch period and data were collected at random at these branches and recorded below; No of Customers Commercial dist branch (time) Residential area branch (time) 1 – 5 3 3 6 - 10 5 6 11 - 15 8 5 16 – 20 8 3 21 - 25 4 2 Required Which of the branches has a relatively better mean waiting time? Which shop can be surer of meeting the mean waiting time at the two branches? Assuming…
- Suppose that a consumer cannot vary hours of work as he or she chooses. In particular, he or she must choose between working q hours and not working at all, where q > 0. Suppose that dividend income is zero, and that the consumer pays a tax T if he or she works, and receives a benefit b when not working, interpreted as an unemployment insurance payment. a. If the wage rate increases, how does this affect the consumer’s hours of work? What does this have to say about what we would observe about the behavior of actual consumers when wages change? Explained also with the graph b. Suppose that the unemployment insurance benefit increases. How will this affect hours of work? Explain the implications of this for unemployment insurance programs. Explained also with the graph43. The U.S. government wants to determine whetherimmigrants should be tested for a contagious disease,and it is planning to base this decision on financialconsiderations. Assume that each immigrant who isallowed to enter the United States and has the diseasecosts the country $100,000. Also, assume that eachimmigrant who is allowed to enter the United Statesand does not have the disease will contribute $10,000to the national economy. Finally, assume that x percentof all potential immigrants have the disease. The U.S.government can choose to admit all immigrants, admitno immigrants, or test immigrants for the diseasebefore determining whether they should be admitted. Itcosts T dollars to test a person for the disease, and thetest result is either positive or negative. A person who does not have the disease always tests negative. However, 10% of all people who do have the disease testnegative. The government’s goal is to maximize theexpected net financial benefits per potential…We wish to demonstrate that the average time to graduate from college is affected by the students having taken AP calculus in high school. Specifically we wish to demonstrate that students who have taken AP calculus in high school gradate an average of at most 0.25 years sooner than students who have not taken AP calculus in high school. If we let μ1 demote the average time to graduate for students who have not taken AP calculus and μ2 denote the average time to graduate for students who have taken AP calculus, then select the appropriate alternative hypothesis: a. μ1-μ2 = 0 b. μ1-μ2-0.25 < 0 c. μ1-μ2-0.25>0 Please explain
- Workers at a particular mining site receive an average of 35 days paid vacation, which is lower than the national average. The manager of this plant is under pressure from a local union to increase the amount of paid time off. However, he does not want to give more days off to the workers because that would be costly. Instead he decides he should fire 10 employees in such a way as to raise the average number of days off that are reported by his employees. In order to achieve this goal, should he fire employees who have the most number of days off, least number of days off, or those who have about the average number of days off? a. He should fire employees who have the most number of days off. b. No matter who he fires, it will not increase the amount of paid time off. c. He should fire employees who have the average number of days off. d. He should fire employees who have the least number of days off.In his doctoral thesis, L. A. Beckel (University of Minnesota, 1982) studied the social behavior of river otters during the mating season. An important role in the bonding process of river otters is very short periods of social grooming. After extensive observations, Dr. Beckel found that one group of river otters under study had a frequency of initiating grooming of approximately 1.7 for each 10 minutes. Suppose that you are observing river otters for 40 minutes. Let r = 0, 1, 2, ... be a random variable that represents the number of times (in a 40-minute interval) one otter initiates social grooming of another. Lambda = 6.8 (b) Find the probabilities that in your 40 minutes of observation, one otter will initiate social grooming four times, five times, and six times. (Round your answers to four decimal places.) P(4) = P(5) = P(6) =In his doctoral thesis, L. A. Beckel (University of Minnesota, 1982) studied the social behavior of river otters during the mating season. An important role in the bonding process of river otters is very short periods of social grooming. After extensive observations, Dr. Beckel found that one group of river otters under study had a frequency of initiating grooming of approximately 1.7 for each 10 minutes. Suppose that you are observing river otters for 30 minutes. Let r = 0, 1, 2, ... be a random variable that represents the number of times (in a 30-minute interval) one otter initiates social grooming of another. a) What is ?? b) Write out the formula for the probability distribution of the random variable r. P(r) = _________ c) Find the probability that one otter will initiate social grooming four or more times during the 30-minute observation period. (Round your answer to four decimal places.)