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Question: How is data analytics important for decision making? What does it mean to make analytic-driven decisions? What does an analytic-driven culture look like in an organization? What roles and responsibilities are needed? How would you advise government agencies in your country to move toward an analytic-driven approach? --
A game has 100 players, you and 99 others. Each players are asked to provide a number between 1 and 100, on a paper, and return the paper. The person whose numb
The decision rule is adopted to shut down the filling machine if the sample mean weight for a sample of 40 bags is below 49.7.
Why do prices in monopolistic competitive markets remain above the prices that would exist in perfectly competitive markets even in the long run after entry has eliminated above normal profits?
Janice really likes potatoes. At best any other goods are worth less than a dollar to her, potatoes cost $1.00 per pound, and she has $5.00 that she could possibly spend on potatoes or other items. Suppose she feels that the first pound of potatoes i..
If production causes an external cost and the supply including the externality is given by 1/3P=Q. What is the socially efficient price if demand is Q=30-1/2P?
Sometimes they are paid tens or hundreds of millions of dollars in a single year. Their work cannot possibly be worth that much."
Why did you deducted 8% at operator salary deducted and 2% at the cost? Isn't the 8% and 2% supposed to be added to the total annual cost?
Acme Tobacco is currently selling 5,000 pounds of pipe tobacco per year. Due to competitive pressures, the average price of a pipe declines from $15 to $12. As a result, the demand for Acme pipe tobacco increases to 6,000 pounds per year. What is the..
A number of people have argued for a flat tax with each person getting a personal exemption of, say, $10,000, meaning that they pay zero tax on the first $10,000 of income and then 20% on all income above that. Is such a flat tax progressive, proport..
Increased demand for biofuels is increasing the global demand for corn. If the corn producing industry has many of the characteristics of perfect competition: U
Consider the following game. Firm 1, the leader, selects an output q1, after which firm 2, the follower, observes the choice of q1 and then selects its own output q2. The resulting price is one satisfying the industry demand curve P = 200 − q1 − q2. ..
A researcher is using data for a sample of 274 male employees to investigate the relationship between hourly wage rates Yi (measured in dollars per hour) and firm tenure Xi (measured in years). Preliminary analysis of the sample data produces the fol..
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