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For a class activity, your group has been assigned the task of generating a quiz question that requires use of formula for conditional probability to compute P(B/A). Your group comes up with the following question" "If P(A and B) -0.40 and P(A) =0.20, what is the value of P(B/A)?" What is wrong with this question? Hint: Consider the answer you get when using the correct formula, P(B/A) = P(A and B)/P(A).
Consider the following data for a simultaneous move ggiven: If you advertise and your rival advertises, you will each earn 5 million dollar in profits.
There are 10 flights from Minneapolis to St. Cloud each day. The probability that any one flight is late is 0.05. Using the binomial probability formula, what is the probability that 1 or more are late?
Barbara and Juanita, Two basketball players, are best offensive players of the school's team. They know if they work together offensively-feeding the ball to each other,
In an enterprise the unit cost of the product is 200 dollars in 2000, 160 dollars in 2005, please calculate the average annual decline rate of unit cost during the period from 2000 to 2005. If in 2010 the unit cost of the product down to 112 dolla..
Suppose you are planning entering a market serviced through a monopolist. You currently receive $0 economic profits, while monopolist receives $5.
A hat contains three coins - one gold, one silver and one copper. You will select coins one at a time without replacement until you choose the gold coin. The outcome of interest is the sequence of coins that are selected during this process.
There is 0.02% probability that a credit card holder of a company reports the loss or theft of the credit card each month. The company has 15,000 credit cards in Memphis. Use the Poisson distribution to answer the following questions.
It costs each company Brokely $3,000 per period to use filters that avoid polluting the lake. However, each company must use the lake's water in production
Pertaining to the matrix need simple and short answers, Find (a) the strategies of the firm (b) where will the firm end up in the matrix equilibrium (c) whether the firm face the prisoner’s dilemma.
In a study to estimate the portion of residents in a certain city and its suburbs who favor the construction of a nuclear power plant, it is found that 63 of 100 urban residents favor the construction while only 59 of 125 suburban residents are in..
Suppose that the MBA education industry is constant cost and is in long run equilibrium. Demand raise, but due to strict accreditation standards, new companies are not allowed to enter the market.
In a one shot game, if you promote and your rival promotes, you will earn $7 million and your rival will earn $2 million in profits.
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