A student takes an exam containing 20 multiple choice questions. The probability of choosing a correct answer by knowledgeable guessing is 0.3. At least 13 correct answers are required to pass. If the student makes knowledgeable guesses, what is the probability that he will fail? Round your answer to four decimal places.

Exercise D7 What does the 45-degree line show?

Exercise B6 What is a substitution effect?

Exercise B5 How can you tell which indifference calves represent higher or lower levels of utility?

Exercise D21 What are some reasons that the economy might be in a recession, and what is the appropriate government action to alleviate the recession?

Exercise B3 Why are indifference curves sleep on the left and flatter on the right?

Exercise B7 What is an income effect?

Exercise B1 What point is preferred along an indifference Curve?

Exercise D8 What determines the slope of a consumption function?

Metropolitan Hospital has estimated its average monthly bed needs as N=1,000+9X where X=timeperiod(months);January2002=0 N=monthlybedneeds Assume that no new hospital additions are expected in the area in the foreseeable future. The following monthly seasonal adjustment factors have been estimated, using data from the past five years: Forecast Metropolitans bed demand for January, April, July, November, and December 2007. If the following actual and forecast values for June bed demands have been recorded, what seasonal adjustment factor would you recommend be used in making future June forecasts?