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A raffle is being held at a school to raise money for the library. The organizers sell 40 tickets. They will select 4 winning tickets at random for prizes.
a) How many different combinations of 4 winning tickets can there be?
b) Suppose you hold 6 tickets. What is the probability that you will win exactly 2 out of the 4 prizes.
Suppose there is an increase in supply (rightward shift in supply). Consider two graphs. In Graph [X], demand is relatively inelastic. In Graph [Y], demand is relatively elastic. Which of the following is true?Suppose Bill gets a pay raise of 12%, ..
To save money, they can put up with some marks and stains. The frugal students are only willing to pay a premium of $8 for a new book instead of a used book. The remaining 300 students are fastidious about their textbooks.
Determine what should you do to maximize benefits with respect to values after you acquire a substitute product. Which values should you change more?
Evaluate the merit or otherwise of the above statement by commenting on the R2 values of the estimated CAPM regressions above.
A woman is retiring and has 2,000,000 in her ORP account. How long will she be able to withdraw 100,000 per year beginning 1 year from now if the account earns a rate of 4% per year
Suppose per unit tax, T is imposed on buyers. Then what is the equilibrium quantity and equilibrium price? Now, assume T=30, then what will be equilibrium price and quantity. (Hint: use P is the price producer receives, and P+T is price paid by th..
where P is the price in cents per kilo and Q is the quantity in millions of kilos. Canada is a small producer in the world chick pea market, where the current world price (which will not be affected by anything we do) is 60 cents per kilo. The Gov..
Three students have each saved $1000. Each has an investment opportunity in which he or she can invest up to $2000. The rates of return on the students' investment projects are: Harry: 5% Ron: 8% Hermione: 20%.) If borrowing and lending is prohibit..
Estimating equation through a correcting factor to correct heteroskedasticity may cause extra correlation to enter the model, which increase the R^2.
May Brothers Department Store has constructed a survey to learn purchasing intentions of a sample of sixty-two department store customers.
If your nominal income rose by 2.8 percent and the price level rose by 3.8 percent in some year, by what percentage would your real income (approx) increase If your nominal income rose by 2.8 percent and your real income rose by 1.1 percent in som..
What is the cost function, marginal cost function, and average cost function for each plant? b) What is the efficient scale and minimum average cost for each plant? c) What is the cost function for the firm?
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