Define a random variable X which is equal to the number of heads occurring on the two coin tosses. Create a probability distribution table showing the possible values of X and the probability of getting each of those values. Explain why your probability distribution is valid (remember there are two conditions). Don't remember? See Module 6.50 introductory notes.

Plot the logarithm of arrivals for each transportation mode against time, all on the same graph. Which now appears to be growing the fastest?

Exercise A5 How does the appearance of positive slope differ from negative slope and from zero slope?

Exercise B1 What point is preferred along an indifference Curve?

Exercise A4 Why is a bar chart the best way illustrate comparisons?

Exercise D7 What does the 45-degree line show?

Exercise B6 What is a substitution effect?

Exercise B2 Why do indifference curves slope down?

Metropolitan Hospital has estimated its average monthly bed needs as N=1,000+9X where X=timeperiod(months);January2002=0 N=monthlybedneeds Assume that no new hospital additions are expected in the area in the foreseeable future. The following monthly seasonal adjustment factors have been estimated, using data from the past five years: Forecast Metropolitans bed demand for January, April, July, November, and December 2007. If the following actual and forecast values for June bed demands have been recorded, what seasonal adjustment factor would you recommend be used in making future June forecasts?

Exercise B7 What is an income effect?