A COBWEB MODEL WITH RANDOM EXPECTATIONS Serena Brianzoni‚ Università degli studi di Macerata Cristiana Mammana‚ Università degli studi di Macerata Elisabetta Michetti‚ Università degli studi di Macerata Francesco Zirilli‚ Università di Roma ‘La Sapienza’ EXTENDED ABSTRACT 1. Introduction The cobweb model is a dynamical system that describes price fluctuations as a result of the interaction between demand function depending on current price and supply function depending on expected price. A classic
Premium Random variable Probability theory Supply and demand
Manuscript ID: CO/2003/022870 Specialty Area: Cost & Schedule Audience: Researchers PROBABILITY OF PROJECT COMPLETION USING STOCHASTIC PROJECT SCHEDULING SIMULATION (SPSS) Dong-Eun Lee1 ABSTRACT This paper introduces a software‚ Stochastic Project Scheduling Simulation (SPSS)‚ developed to measure the probability to complete a project in a certain time specified by the user. To deliver a project by a completion date committed to in a contract‚ a number of activities need to be carried out. The time
Premium Project management Critical path method Random variable
UNIVERSITI UTARA MALAYSIA COLLEGE OF ARTS AND SCIENCES SCHOOL OF QUANTITATIVE SCIENCES GROUP ASSIGNMENT SQQS1013 ELEMENTARY STATISTICS 2nd SEMESTER SESSION 2012/2013 INSTRUCTIONS: 1. Five (5) persons in a group. 2. Answer ALL questions and show all your calculations clearly. 3. Report must be typewritten using A4 paper. 4. Every question and answers must be written on a new page. 5. The front cover for the report is as in Appendix
Premium Random variable Normal distribution Cumulative distribution function
M11/5/MATME/SP1/ENG/TZ1/XX 22117303 mathematics staNDaRD level PaPeR 1 Wednesday 4 May 2011 (afternoon) 1 hour 30 minutes iNSTrucTioNS To cANdidATES candidate session number 0 0 Examination code 2 2 1 1 – 7 3 0 3 Write your session number in the boxes above. not open this examination paper until instructed to do so. do are not permitted access to any calculator for this paper. You Section A: answer all questions in the boxes provided. Section B: answer all questions on the
Premium Random variable
M11/5/MATME/SP1/ENG/TZ1/XX 22117303 mathematics STANDARD level Paper 1 Candidate session number 0 0 Wednesday 4 May 2011 (afternoon) Examination code 2 1 hour 30 minutes 2 1 1 – 7 3 0 3 instructions to candidates Write your session number in the boxes above. not open this examination paper until instructed to do so. Do You are not permitted access to any calculator for this paper. Section A: answer all questions in the boxes
Premium Random variable
MTH3301 Fall 2012 Practice problems Counting 1. A closet contains 6 different pairs of shoes. Five shoes are drawn at random. What is the probability that at least one pair of shoes is obtained? 2. At a camera factory‚ an inspector checks 20 cameras and finds that three of them need adjustment before they can be shipped. Another employee carelessly mixes the cameras up so that no one knows which is which. Thus‚ the inspector must recheck the cameras one at a time until he locates all the bad ones
Premium Random variable Probability theory Cumulative distribution function
Week Two Assignment BUS308: Statistics for Managers Tiffany Aldridge January 9‚ 2012 Week Two Assignment Chapter 4: 4.4‚ 4.20 4.4 Suppose that a couple will have three children. Letting B denote a boy and G denote a girl: a. Draw a tree diagram depicting the sample space outcomes for this experiment b. List the sample space outcomes that correspond to each of the following events: 1) All three children will have the same gender. BBB‚ GGG 2) Exactly two of the three
Premium Random variable Normal distribution Standard deviation
probability (7%) 1. Let the random variable X follow a Binomial distribution with parameters n and p. We write X ~ B(n‚p). * Write down all basic assumptions of Binomial distribution. * Knowing the p.m.f. of X‚ show that the mean and variance of X are = np‚ and 2 = np(1 – p)‚ respectively. 2. A batch contains 40 bacteria cells and 12 of them are not capable of cellular replication. Suppose you examine 3 bacteria cells selected at random without replacement. What is the
Premium Normal distribution Probability theory Poisson distribution
in constant need of repair. With a particular type of terrain and make of concrete‚ past experience suggests that‚ on the average‚ 2 potholes per kilometre after a certain amount of usage. It is assumed that the Poisson process applies to the random variable for the number of potholes. i. What is the probability that there will be between 3 and 9 potholes in a given section of 5 km. [2 marks] ii. the What is the probability that there will be more than 3 km section before next pothole is found. [3
Premium Standard deviation Randomness Normal distribution
Statistical Analysis BU 510 601 2 Credit Hours Fall 2013 Instructor: Shrikant Panwalkar Office phone: (410) 234 9456 Office Hours: By appointment panwalkar@jhu.edu Required Text and Learning Materials Business Statistics in Practice; 6th Edition‚ McGraw-Hill Higher Education‚ ISBN-13 978-0-07-340183-6 (There are other ISBN numbers) Authors: Bowerman‚ Bruce; O’Connell‚ Richard. (the cover shows a third author – Murphree) Please note: 7th edition is available‚ however
Premium Arithmetic mean Probability theory Statistics