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Sheila, a market researcher is interested in assessing whether a new model of a vacuum cleaner that has been advertised on a radio talk show had achieved more brand name recognition among people who listened to the show regularly than among people who did not. Upon conducting a survey, she finds that 15% of all people both listened to the show regularly and could correctly identify the product. Also, 16% of all people regularly listened to the show and 45% of all people could correctly identify the product. Define a pair of random variables as follows:
P = 1, if regularly listened to the show; P = 0, otherwise.
S = 1, if product identified correctly; S = 0, otherwise.
(a) Find the joint probability distribution of P and S.
(b) Find the conditional probability function of S, given P = 1.
(c) Find the correlation coefficient between P and S.
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The Apple company issues a coupon bond with the face value $1000, the coupon rate 7% and the maturity 10 years. If the interest rate is assumed to be fixed at 8%, what is the present value of the bond? Instead, people expect that the interest rate wi..
Factors that cause a shift in the aggregate demand curve are the following although the list is not exhaustive. Any change in the components of aggregate expenditure. When consumption expenditure, investments expenditure, government expenditure, and ..
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Graph the supply and demand curves. Please identify the x and y axis properly, the Price and quantity intercepts and equilibriumraph the supply and demand curves. Please identify the x and y axis properly, the Price and quantity intercepts and equili..
Errol Vass was two weeks away from harvesting a bumper crop of macadamias when Cyclone Marcia stormed in.Now his Yeppoon-based orchard is in ruins, and Mr Vass is faced with the heartbreaking reality that this could be the end of the road for his 22-..
At the current level of? production, a monopoly faces a demand curve with a price elasticity of 0.8. This means it should? __________. Consider a model where we attempt to evaluate the effect of certain variables on the price of sex services. Suppos..
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