Ronald Coase noted‚“The cost of doing anything consists of the receipts that could have been obtained if that particular decision had not been taken.” For example‚ the opportunity set for this Friday night includes the movies‚ a concert‚ staying home and studying‚ staying home and watching television‚ inviting friends over‚ and so forth. The opportunity cost of taking job A included the forgone salary of $102‚000 plus the $5‚000 of intangibles from job B. Opportunity cost is the sacrifice of
Premium Costs Parking Variable cost
Production and Cost Analysis in the Short-Run Chapter 5 Production Function 2 A production function describes the relationship between a flow of inputs and the resulting flow of outputs in a production process during a given period of time. Q = f(L‚ K‚ M‚ …) where Q = quantity of output L = quantity of labor input K = quantity of capital input M = quantity of materials input Copyright © 2010 Pearson Education‚ Inc. Publishing as Prentice Hall Fixed and Variable Inputs A fixed input
Premium Costs Marginal cost Economics
English Assessment 2013 Importance of Physical Fitness Importance of Physical Fitness Physical fitness is one of the most important key to a healthy body. It is the basis of creative artistic activity. Physical fitness means the condition of being physically healthy‚ especially exercises and proper nutrition. It is the reason‚ a state of general well-being marked by physical health and mental stability. Physical fitness is not just bending our body. It is about having cardiovascular and overall
Premium Muscle Physical exercise Exercise
Discrete Random Variables: Homework Exercise 1 Complete the PDF and answer the questions. |X |P(X = x) |X(P(X = x) | |0 |0.3 | | |1 |0.2 | | |2 | | | |3 |0.4 | | a. Find the probability that X = 2. b. Find the expected value. Exercise 2 Suppose that you are offered the following “deal.” You roll a die. If you
Premium Random variable Probability theory
Modelling 2 Week 3: Discrete Random Variables Stephen Bush Department of Mathematical Sciences MM2: Statistics - Week 3 - 1 Random Variables • Reference: Devore § 3.1 – 3.5 • Definitions: • An experiment is any process of obtaining one outcome where the outcome is uncertain. • A random variable is a numerical variable whose value can change from one replicate of the experiment to another. • Sample means and sample standard deviations are random variables • They are different from sample
Premium Probability theory Random variable Normal distribution
NATURE OF STATISTICS AND THE DIFFERENT TYPES OF VARIABLES A. Classify the following statements as belonging to the area of descriptive statistics or inferential statistics. Write DS for descriptive statistics and write IS for inferential statistics on the space provided. 1. Yesterday’s record shows that three (3) employees were absent due to Dengue fever. _________ 2. Based from the present enrollment trend‚ it is expected that after 5 years‚ the number of BSPsych enrollee’s in CvSU
Premium Statistics Mathematics College
performance. Training priorities dictate how often and how rigorously PRT occurs. Professional development schools‚ hospitals‚ military police‚ communication centers and Department of the Army staff have various challenges in planning and conducting PRT. Leaders should make every effort to conduct phased unit or individual PRT five times a week. See Chapter 5 for unit PRT schedules. INDIVIDUAL 4-15. Commanders that authorize the use of individual training programs for their Soldiers should follow the same
Premium United States Army
B – Data Centers (1) 1. PUE (Power usage effectiveness)‚ the ratio of total facility energy to IT equipment energy within a data computer‚ which measures how much of the power is actually used by the computing equipment. It is an important place to start when considering how to reduce data center power consumption because it is one of the most effective metrics for measuring data center energy efficiency. PUE is calculated by taking the total power of consumed by a data center facility then
Premium Data center Greenhouse gas
Lifetime Health and fitness Many people end up abandoning perfectly good fitness programs and weight-loss regimens before they even lace up their sneakers. Why? Because in a world brimming with fast food‚ instant messaging‚ and a five-second disease-tracking device‚ anything at all without a rapid payoff goes in opposition to the grain of the typical American instant gratification ethic. While it would be nice to actually drop inches in just a few days like what most miracle ads proclaim‚ managing
Premium Nutrition Health Weight loss
Plant overhead $122‚000 D/L rate/hour $30 Youngstown has a traditional cost system. It calculates a plant-wide overhead rate by dividing total overhead costs by total direct labor hours. Assume‚ for the calculations below‚ that plant overhead is a committed (fixed) cost during the year‚ but that direct labor is a variable cost. 1. Calculate the plant-wide overhead rate. Use this rate to assign overhead costs to products and calculate the profitability of the four products. The assignment
Premium Cost Costs Mathematics