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Joe owns a small coffee shop, and his production function is q = K1/2L1/2 where q is total output in cups per hour, K is the number of coffee machines (capital), and L is the number of employees hired per hour (labor).  Joe’s capital is currently fixed at K=64 machines, the price of K is $5 and the price of L is $8. What is the lowest cost to produce 240 cups per hour?

  The production function is q=X11/2+ 2X2, where X1 is the amount of input 1 and X2 is the amount of input 2. Does the marginal product of input 1 satisfy the law of diminishing marginal return? Does the marginal product of input 2 satisfy the law of diminishing marginal return?  

Give the net ionic equation for the reaction (if any) that occurs when aqueous solutions of K2S and Fe(NO3)2 aremixed.

Give the chemical formula for sodium perchlorate.

Write a balanced equation to show the reaction of sulfurous acid with lithium hydroxide to form water andlithium sulfite.

The nurse is caring for a client with persistent epistaxis, the health care provider prescribes a local application of phenylephrine hydrochloride (Neo-Synephrine) solution. How will this treatment help?

The career services director of Hobart University has said that 60% of the school’s seniors enter the job market in a position directly related to their undergraduate field of study. In a sample of 200 of last year’s graduates, 117 have entered jobs related to their field of study. Test at the 10% significance level the hypothesis of whether the directors claim is valid. What is your conclusion?

The career services director of Hobart University has said that 60% of the school’s seniors enter the job market in a position directly related to their undergraduate field of study. In a sample of 200 of last year’s graduates, 117 have entered jobs related to their field of study. Test at the 10% significance level the hypothesis of whether the directors claim is valid. What is the calculated value of the z statistic?

A motel owner has a bank loan for the business. The motel owner says the business has average daily revenue of at least $2,048. If the average is less than $2,048, the bank will charge the motel owner a higher interest rate on the loan.  A bank employee randomly selects 30 days during the last six months. The sample has a mean of $2,003 and standard deviation of $115.  At the 5% significance level and 29 degrees of freedom, is the average revenue less than $2048? What null and alternative hypotheses are you testing?

For a two-tailed test, at 95% confidence with 28 degree of freedom, which of the following is a critical t value: