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Assume breast cancer affects 0.002 of the female population between 45 and 55 years of age. There are two kinds of positive test results: True positive (the test indicates you have a disease, and you actually have it) False positive (the test indicates you have a disease, but you actually do not). Assume mammograms are 0.91 accurate detecting people who actually have breast cancer (true positive rate) 0.92 accurate for people who do not have breast cancer (true negative rate).
Compute the probability that a female between the ages of 45 and 55 who tests positive for breast cancer has breast cancer, and enter your answer with 3 decimal places.
Would consumers be better off in terms of welfare, when you compare a firm in monopolistic competition, oligopoly, and monopoly to one in perfect competition?
Please describe ONE of the three detailed growth theories covered, in detail. (do not do Malthus) For whichever you choose, give the mechanism itself, i.e. how does the model work? What assumptions are implicit in the model?
Examine the impact on a small country following an outward flow of immigrants that decreases its labor force. Assume that land is specific to agriculture and capital is specific to manufacturing, while labor is free to move between the two sectors. T..
Assume that your initial deposit occurs at the end of your first month. Use 9% nominal annual interest compounded monthly.
If the reserve requirement is 20 percent, and banks keep no excess reserves, an increase in an initial inflow of $100 into the banking system will cause an increase in the money supply of: Suppose that consumer spending is expected to decrease in the..
Which of the following is NOT a possible way for a price-fixing scheme on potatoes to fall apart? Which of the following determine an individual's wage? In 2011, Google introduced its social networking site, Google+. Even though Google+ is cleaner an..
Corporation X is in the business of buying, restoring, and selling vintage cars. A local man attempts to sell to corporation X a vintage car, estimated to be worth $50,000, for the price of $1000. If the president receives the offer but, instead pres..
Explain how an acceleration of the GDP growth rate could have contributed to the fall in the debt-GDP ratio during the 1990's.
Banks can create money through lending from excess reserves. The National Bank of the Undemocratic Republic of Swagnervania receives $1.5 million. The Federal Reserve of the Undemocratic Republic of Swagnervania stipulates all commercial banks use a ..
Gini & Marcoux give a discussion of Competition. They begin with a discussion of sports and move to a discussion of competition in business. What do they say are some of the similarities and differences between competition in sports and in business. ..
Many small businesses use Secondary data due to the low cost. However, we should also reflect that primary data can be collected by engaging with your customers and asking or watching what they do. The WalMart founder was famous for doing just that. ..
How much will $100 grow to if invested at an annual interest rate of 11.50% for 8 years?
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