Question
A consumer's optimal bundle is located at the point of
tangency between the budget line and ________.Solution
The optimum bundle of the consumer is located at the point where the budget line is tangent to one of the indifference curves. The indifference curve is a geometrical device developed by J.R. Hicks and R.G.D. Allen in the article “A Reconsideration of the Theory of Value”.
If a discrete random variable X follows uniform distribution and assumes only the values 8, 9, 11, 15, 18, 20, the value of P(|X-14| < 5) will be:
Which of the following is an example of using a sample to make inference about a population?
Marshall-Edgeworth Index number:
If the first, second, and third moment about the origin are 2, 8, and 18 respectively, then third moment about mean is
By the method of moving averages, the seasonal index for four quarters equals to:
Which of the following is NOT an approach for assigning the probability of the event?
The second and fourth moment about mean for a distribution are 4 and 18 respectively. What is the value of Pearson's coefficient of skewness β ₂ ? <...
Which of the following statements is INCORRECT?
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