The Production Possibilities Curve (PPC)
Production Skateboards Bicycles
Scenario
A
40
Opportunity cost of
additional Skateboard
production (quantity of
Opportunity cost of
additional Bicycles
production (quantity of
bicycles that must be
given up)
Skateb
Kuta Software - Infinite Algebra 1
Name_
Scatter Plots
Date_ Period_
State if there appears to be a positive correlation, negative correlation, or no correlation. When
there is a correlation, identify the relationship as linear, quadratic, or exponential.
Kuta Software - Infinite Algebra 1
Name_
Using Statistical Models
Date_ Period_
Oysters (metric tons)
1) The oyster population of the Chesapeake Bay has been in decline for over 100 years. This can be
x
expressed by the equation y where x is the number of
Kuta Software - Infinite Algebra 1
Name_
Center and Spread of Data
Date_ Period_
Find the mode, median, mean, lower quartile, upper quartile, interquartile range, and population
standard deviation for each data set.
1)
Test Scores
37
42
54
55
48
51
52
2)
Compound Interest
Worksheets
Name_
Calculate the total amount of the investment or total paid in a loan in the
following situations:
1.) You invested $52,400 at 6% compounded annually for 5 years. What is your total return
on this investment?
Answer:
2.)
Compound Interest
Worksheets
Name_
Calculate the total amount of the investment or total paid in a loan in the
following situations:
1.) You invested $29,000 for 4 1/4 years at an interest rate of 11% compounded
quarterly. What is your $29,000 worth after
Kuta Software - Infinite Precalculus
Compound Interest
Name_
Date_ Period_
1) Brenda invests $4,848 in a savings account
with a fixed annual interest rate of 5%
compounded 2 times per year. What will
the account balance be after 6 years?
2) Lea invests $8
Compound Interest
Worksheets
Name_
Calculate the total amount of the investment or total paid in a loan in the
following situations:
1.) You borrow $56,700 for 2 years at 6.3% that is compounded annually. What is the total
amount you pay back?
2.) You inv
Compound Interest
Worksheets
Name_
Calculate the total amount of the investment or total paid in a loan in the
following situations:
1.) Your $960 got an interest rate of 8.7% which was compounded monthly for 3 years.
What is your $960 worth after 3 years
Monopolistic
Competition
1
Its Friday Night where should
your family go out to eat
2
Perfect
Competition
Monopolistic
Competition
Oligopoly
Pure
Monopoly
Characteristics of Monopolistic
Competition:
Relatively Large Number of Sellers
Differentiated Prod
Unit 4:
Imperfect
Competition
Oligopoly
FOUR MARKET MODELS
Perfect
Competition
Monopolistic
Competition
Oligopoly
Pure
Monopoly
Characteristics of Oligopolies:
A Few Large Producers around 67%
of market
Identical or Differentiated Products
High Barrier
1. Find the amount and the compound interest on $ 2500 for
2 years at 10% per annum, compounded annually. 2. Find the
amount and the compound interest on $ 16000 for 3 years at
5% per annum, compounded annually. 3. Find the difference
between the simple i
INART 50 Science of Music
Compound Interest
(Please see the page Exponential Growth/Compound Interest
in the Coursepack for instructions on solving these problems)
What is the total amount in a bank account, given this initial deposit, com
39) Firms that can price discriminate between customers do so to
A) increase consumer surplus
B) increase employment
C) increase their profit
D) decrease the quantity they produce
Answer: C
40) For a monopoly, the market demand curve is the firm's
A) supp
44) In the long-run equilibrium in a perfectly competitive market,
A) the rms make an economic profit.
B) the firms' owners make a normal prot.
C) the average total cost is maximized.
D) marginal cost is at a minimum.
45) Which of the following is N_OT a
330%?) .
(\i In a perfectly competitive market, the profit maximizing point occurs when
MARGINAL COST=MARG|NAL 'REVENUE (MC:MR)
Short Run: Economic Profit Additional Information: (Not going to be tested)
Firms total cost is TC= 40+0.5q+0.05q2
Pce=8
What q
Introduction to Economics
Ms. Chaudhary
Decisions, Decisions, Decisions
We constantly face economic decisions
because our needs and wants are virtually
unlimited.
http:/www.youtube.com/watch?v=lm9gOxn
X5XM
What is Economics?
The science of Scarcity and
What is Economics About? - Activity
This Activity is designed to help you to understand at least something about what you
will be studying over the coming months and to be able to identify some of the key
economic issues and problems that make up the subj
CHAPTER 1: Basic PRinciplcs or Economics
0
At the heart of every decision is a choice that has to be madethe selection
of one alternative over others. State the problem in a clearly focused question. .
0 What should Lani do over the weekend?
ldentify th
Production Resources and
Economic Goals
Ms Chaudhary
Productive Resources
Anything that can be used to create or
manufacture goods.
Tangible Resources
Have physical properties that can be seen and
touched and are therefore easily quantified.
Intangible
Question 3
The ANOVA Procedure
Class Level
Information
Class
Levels Values
region
4 1234
sales
3 123
Number of Observations
Read
1
2
Number of Observations Used
1
2
Alyssa Morrison, 100973618
The SAS System
The ANOVA Procedure
Dependent Variable: units
So
Components of Decision Making
STAT 2112
A decision-making situation includes several components the decisions themselves and the actual
events that may occur in the future, known as states of nature. At the time the decision is made, the
decision maker is
STAT 2112
ESTIMATING PROBABILITY VALUES USING BAYESIAN ANALYSIS
Earlier we discussed the concept of the expected value of the perfect information. Although perfect
information about the future is rare, it is often possible to gain some amount of additiona
DECISION MAKING UNDER RISK
STAT 2112
(Decision Making with Probability)
In many real-world situations, it is common for the decision maker to have some idea about the
probabilities of occurrence of the different outcomes or states of nature. These probabi
Inventory Models
STAT 2112
The central problem we face in making any decision involving physical storage is finding an efficient
inventory policy. A key element in establishing such a policy is to determine how many items should be
stocked periodically an
Project Scheduling with Known Activity Times
STAT 2112
In many situations, managers are responsible for planning, scheduling, and controlling projects that
consist of numerous separate jobs or tasks performed by a variety of departments and individuals.
O
Project Scheduling with Uncertain Activity Times
STAT 2112
Once we develop the project network, we will need information on the time required to complete
each activity. This information is used in the calculation of the total time required to complete the
A Blend Example
STAT 2112
A petroleum company produces three grades of motor oil super, premium, and extra from three
components. The company wants to determine the optimal mix of the three components in each
grade of motor oil that will maximize profit.