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One of the fans at this game believes in the Law of Small Numbers. She has the wrong model of how likely Curry is to make a basket. Here’s how her model works. The fan imagines that there is a deck of 4 cards. When Paul is Hot, 3 of these cards say “hit” on them, and only 1 says “miss.” Every time Curry takes a shot, one of these cards is drawn randomly without replacement from the deck, and the outcome is whatever the card says. Therefore, when Curry is Hot, he always makes 3 out of every 4 shots he takes. (When the deck is used up, the 4 cards are replaced, the deck is shuffled, and the process begins again – but that isn’t important for this problem.) Similarly, when Curry is Normal or Cold, the outcome of every shot is determined by the draw of a card without replacement from a deck of 4 cards. When curry is Normal, the deck has 2 “hit” cards and 2 “miss” cards. When Curry is Cold, the deck has 1 “hit” card and 3 “miss” cards. Explain how her model corresponds to the Law of Small Numbers.
Using the Internet or a newspaper, locate an article about a controversial environmental issue in your community. Create a critical response from a legal perspective to that issue in the form of a letter on behalf of the community (In other words, pr..
The gross domestic product (GDP) of the United States is defined as the ---------------, all --------------, ----------------- in a given period of time. Rajiv's employer as deigned him to provide consulting services to an Australian firm that's open..
Why is the continuing income inequality in the US a problem for the economy? Does it matter that so many people own such a low percentage of total wealth in this country?
Graph Mary's marginal cost curve using the orange line and her marginal revenue curve using the blue line
Banks attempt to screen out the good credit risks from the bad credit risks to reduce the incidence of loan defaults. To do this, banks do all of the following except:
Suppose that First National Bank, Second National Bank, and Third National Bank have zero excess reserves. The required reserve ratio is 20%. The Federal Reserve buys a government bond worth $1.5 million from John, a client of First National Bank. Fi..
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Is it possible for the short-run run market supply curve to show that quantity supplied increases only if price increases and for the long-run market supply curve to indicate that market price does not increase as quantity supplied increases? Why or ..
Describe the cost function and explain the difference between a short-run and a long-run cost function. Describe the elements of a cost schedule which can be derived total, fixed, and variable costs. Compare and contrast the short-run cost function a..
Assume Arturo is willing to trade 6 burritos to Dina for each 10 tacos which Dina produces also send to Arturo.
Assume that your favourite candidate is proposing a 15 percent flat tax to replace our personal income tax. Analyze the tax and tell whether it is a good tax alternative or not. What are the strengths and weaknesses of the tax?
q1. between the first quarter of 2005 and the fourth quarter of 2006 the cpi increased by 7 percent while the gdp
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