Given Independent Random Variables with Means and Standard Deviations as Shown,find

question 148

Multiple Choice

Given independent random variables with means and standard deviations as shown,find the mean and standard deviation of the variable X + Y.Round to two decimal places if necessary. $$\begin{array} { l | l l } & \text { Mean } & \text { SD } \\\hline \mathrm { X } & 40 & 4 \\\mathrm { Y } & 70 & 7\end{array}$$

• A)? = 2800,? = 11
• B)? = 110,? = 65
• C)? = 110,? = 8.06
• D)? = 2800,? = 8.06
• E)? = 110,? = 11

Analyze the dynamics of competitive markets, including entry and exit of firms.

Comprehend the impact of external factors, such as transportation costs and supply limitations, on market prices and rent.

Grasp the ethical and economic implications of illegal markets and government policies aimed at regulating such markets.

Understand the concept of the short-run industry supply curve and how it is influenced by fixed and variable costs.

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Definitions:

Corporation

A legal entity created by individuals, shareholders, or shareholders, with rights and liabilities distinct from those of its members, recognized as such under law.

Partnership

A business setup legally established by two or more partners who divide management duties and profits.

Consumer Cooperative

A type of cooperative that is owned and operated by its members, with the aim of reducing costs and/or improving the quality of goods and services.

Farm Cooperative

A group of farmers who pool their resources in certain areas of activity, aiming to increase their economic power and secure their livelihoods.