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The customers at the Take-A-Break Café always want one of two hot beverages, either tea (T) with probability P(r) = 0.60 or coffee (C) with probability P(C) = 0.40- The probability that a customer who chooses tea also wants a doughnut (D) is80%, the probability that a customer who chooses tea also wants a bagel (B) is 15%, and the probability that a customer who chooses tea also wants a muffin (M) is 5%. Inaddition, the probability that a customer who chooses coffee also wants a doughnut is 15%, the probability that a customer who chooses coffee also wants a bagel is 10%, andthe probability that a customer who chooses coffee also wants a muffin is 15%.
a) Determine the probability that a customer who wants a doughnut is a coffee-drinker.
b) Determine the probability that a customer wants BOTH a muffin AND a cup of tea.
c) Determine the probability that a customer who wants a bagel is NOT a tea-drinker.
d) Determine the probability that a customer who wants BOTH a doughnut AND a muffin is a tea-drinker.
Consider a market characterized by the following inverse demand and supply functions: PX = 10 - 2QX and PX = 2 + 2QX. Compute the equilibrium price and quantity in this market.
You are a manager in a firm that produces and sells cleaning products.
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1. Draw and label the graphs of the pdf (together, on one set of axes) of N(0,1) and N(-1, 2). Your graphs should display how the different parameters of the two distributions affect the pdfs.
Suppose that you own STL Burgers at the airport. If another shop (Macro Burgers) opens at the airport, then you’d expect that the absolute-value of Ed for your product would decrease. If a firm is earning positive accounting profits, then it must als..
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