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Question: It is said that Napoleon assessed probabilities at the Battle of Waterloo in 1815. His hopes for victory depended on keeping the English and Prussian armies separated. Believing that they had not joined forces on the morning of the fateful battle, he indicated his belief that he had a 90% chance of defeating the English; P(Napoleon Wins) = 0.90. When told later that elements of the Prussian force had joined the English, Napoleon revised his opinion downward on the basis of this information, but his posterior probability was still 60%; P(Napoleon Wins | Prussian and English Join Forces) = 0.60. Suppose Napoleon were using Bayes' theorem to revise his information. To do so, he would have had to make some judgments about P(Prussian and English Join Forces | Napoleon Wins) and P(Prussian and English Join Forces | Napoleon Loses). In particular, he would have had to judge the ratio of these two probabilities. Based on the previously stated prior and posterior probabilities, what is that ratio?
Is outsourcing another example of the benefits of trade, in this case, trade between two companies? Many of the opponents of outsourcing are fans.
Rewrite the MPK as a function of output per unit of capital. Write an expression for the total wage bill. Write an expression for the total return to capital. What is the ratio of labor income to capital income for this production function
you can never lose sight of the fact that your customers must be your first priority in meeting performance goals. Describe the elements of a service culture.
A hypothetical economy can be described by the Solow growth model. Answer the below questions for this economy by using the following information. What is the steady-state level of capital per worker? What is the level of steady-state consumption per..
What is monetary policy? How does the Fed increase money supply? What is the effect of an increase in money supply? Explain how government deficits lead to increases in the money supply.
What is the salary t predicted by the standard bargaining solution and what is the salary t predicted by the standard bargaining solution - Draw the extensive form of game and determine the subgame perfect equilibria.
A country has GDP of 10bn pesos and its government has borrowed 1bn pesos of money domestically and $4bn in U.S. dollars. The exchange rate is $1 = 1 peso. Interest rates are 10% on peso denominated debt and 5% on dollar denominated debt. What ..
The IT industry is full of patents. There are some companies, referred to as patent trolls, whom purchase these patents in hopes of making money by enforcing patents against alleged infringers. Determine the impact of government regulation
Go back to 2007 when we had the last financial crisis and present economic situation, and then outlook for the economy over the next year or two. Concentrate on unemployment, GDP growth and population structure .
The time between arrivals in an airport is exponentially distributed with a mean of 25 minutes.
The characteristics of the Perfect competition model are flawed by to many inaccuracies and offer little or no relevance to the real world
what is the concentration ratio for the industry x and y. (number of firm) ----(industry x) ------ (industry y) (1) -----------------------8,750-------- --------1,750 (2) -----------------------7,500---------------- 1,725
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