# Economics Test Questions Essay

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BUSN 603 MULTIPLE CHOICE QUESTIONS SET PART 2-8 http://www.coursehomework.com/product/busn-603multiple-choice-questions-set-part-2-8/
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Final Exam
BUSN 603 Multiple Choice Questions Set Part 2-8
Jane wants to set up a photo shop. The cost to rent is \$150 per week. The variable cost of making one photo is \$20 and she can sell it for \$50.
1. Jane has to sell ______ photos per week to break even
2. If Jane sells 10 units ,her profits would be ______ dollars
Paul wants to choose one of the two investments opportunities over three possible scenarios. Investment 1 will yield a return of \$10000 in scenario1, \$2000 in scenario 2 and a negative return of \$5000 in scenario 3.
Does the company just make enough economy gasoline to meet the demand?
A/Yes, yes b/Yes,no c/No,yes d/No,no 2/ To minimize the production cost , the optimal amount of X100 crude oil used in producing regular gasoline is ________barrels and the optimal amount of X220 Crude oil used in producing regular gasoline is _______ barrels.
3/ To minimize the production cost , the optimal amount of X100 crude oil is used in producing economy gasoline is ________barrels and the optimal amount of X220 crude oil used in producing economy gasoline is __________.
At a car wash station , on average , there are 4 cars coming in for service every 10 minutes. The average wash time is 2 minutes. The poisson distribution is appropriate for the arrival rate and service times are exponentially distributed.Please convert all rates into cars per hour and answer the following questions.
1/ The average time a car spent in the waiting line is ______hours and the total time a car spent in the car wash station is _____hour.
2/The average number of cars in this car wash station is _______
3/ The probability that there are no cars in this station is ________
4/ The probability that there are exactly two cars in this station is _________
To study the weight accuracy of a 50lbs fertilizer bag. 12 samples of 12 bags of fertilizer in each sample were taken and the results are as follows
MEAN RANGE
Sample 1