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This is a statistics probability question using the concept of conditional probability. The question is:
In a card game a player needs to get two cards of the same suit in order to win. What is the probability that he/she wins, if the first card the player draws is a heart?
Which of the following activities could be categorized as backward planning? A certain index for the cost of purchasing and installing utility boilers is keyed to 1988, where its baseline value was arbitrarily set at 100. What is the approximate cost..
Define carefully the concept of a nation's external wealth and explain how it varies with the current account and capital gains on external wealth.
Suzanne is a recent chemical engineering graduate who has been offered a 5-year contract at a remote location. She has been offered two choices.
Omar's marginal utility for cups of coffee is constant at 1.5 utils every cup no matter elucidate how many cups he drinks.
An individual has an income of $1000 per month with which they buy the composite good with a price of $1 and food with a price of $2/unit of food. Draw the budget constraint for the individual with the composite good on the y-axis and food on the x-a..
Are budget deficits (especially what we have witnessed in the U.S. over the past 20 years) necessarily a bad thing? Elucidate.
What percentage of drivers have a reaction time more than 1.88 seconds? What percentage of drivers have a reaction time less than 1.46 seconds?
Which of these types of firms can earn a positive economic profit in the long run.
What economic inefficiencies does the original Uber operating model exploit? How does your answer change for drivers who rent cars to provide Uber services?
Trace a copy of this diagram. Graphically depict the substitution and income effects. 2.2. Which effect is strongest? How can you tell?
One of the demands of railroad in recent labor negotiations has been to eliminate the caboose from trains, cutting train crews from four to three. The unions have resisted this because of the loss of jobs. Are the unions right? Would removing the cab..
Why did freed slaves believe that land ownership would be so important for their freedom? How did the system of sharecropping limit their freedom and make land ownership difficult to achieve? Do you think the government should have seized the land of..
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