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Consider a dice game: no points for rolling a 1, 2, or 3; 5 points for a 4 or 5; 50 points for a 6.
(a) Write the probability model for the points from this game, and find the expected value and the standard deviation.
(b) Imagine doubling the points awarded. What are the new mean and standard deviation?
(c) Now imagine just playing the game twice. What are the mean and the standard deviation of your total points from the two games?
(d) Suppose you and a friend both play the dice game. What are the mean and standard deviation of the difference in your points?
When nominal interest rates become "sufficiently negative" (meaning they exceed cash storage costs) , does money demand behave assymptotically and approach infinity?
Find the equilibrium prices and quantities. Construct a graph of supply and demand for this market, showing all intercepts, and showing the equilibrium prices and quantities you have calculated. At the market equilibrium price, what would be the tota..
In considering the international realm, let's consider the concept of economic treaties. Specifically, let's think about an organization like the European Union (EU).
Even though they are a near monopoly, they should not be regulated by the government because they give their search engine services away for free."
Both the database and the ERP software runs on an operating system like Oracle, SAP or NetSuite. During the testing step of the ETL process, the data in normalized. ETL is a database process designed to standardize data across systems. It stands for ..
A local car dealer is advertising a 24 month lease of a sport utility vehicle for 520 payable at the beginning of each month. the lease requires a 2500 down payment plus a 500 refundable security deposit that is refunded at the end of the 24 month le..
The term "unemployment rate" in economics refers to:
Priyesh’s preferences for goods x and y is given by the utility function U = x2/3y1/3. His income is $192 and the price of good y is always $1. Suppose the price of x starts at $8 and then decreases to $4. The substitution effect results in Priyesh b..
A merchandise trade deficit arises when: The balance of payments on financial account: When capital can flow freely among countries: If the dollar appreciates against the euro: Which of the following is true at the equilibrium exchange rate? A floati..
The title Where Angels Fear to Tread is taken from Alexander Pope’s An Essay on Criticism. What is the full quotation and what does it mean? How does this phrase describe the events that take place in this novel? Is this a good title for the novel? W..
Find the 90% confidence interval for the compensation of a year when the productivity is 85 and interpret the CI.
Moving along a demand curve, the quantity demanded decreases 8 percent when price increases 10 percent. Find the arc price elasticity of demand over the price range from $3 to $7. Interpret the value of price elasticity.
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