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30% of the students doing a course in statistics use the book authored by A1 45% use the one authored by A2 and 25% use the one authored by A3. The proportion of students who learnt about each of these books through their teachers are: A1= 0.50, A2=0.30 and A3=0.20. One of the students selected at random revealed that he learnt about the book he is using through his teachers. Find the probability that the book used is authored by A2
Identify a company in your local area that you would classify as a monopoly. Explain why you classified the company as a monopoly, and state how the company relates to at least two characteristics of that particular market.
Explain the equilibrium price will remain unchanged, smokers will consume the same number of cigarettes. Do you agree or disagree with this view.
What policy rule do monetarists believe the Fed should follow? What are the major assumptions underlying this policy prescription? What average annual inflation rate would a monetarist expect if the Fed maintained a growth rate of M2 = 10% per year f..
a. Calculate the present value of net benefits for the project using the analysts' predictions.
The Gentle Warming Company is purchasing a new cooling system. To pay for the system, the company agrees to make 12 installment payments of $8186 per year, beginning at the end of year 1. How much should the company set aside today to pay for the coo..
A set of cash flows begins at $200,000 at the end of year 1. It deceases by 10% at the end of year 2 and so on, until n = 10 years. If the MARR = 8%, what is the PW of the flow? Lucky Linda, a very good Avon salesperson, is averaging $100,000 per yea..
A bright OU student plans to win first prize in the Ohio University Scripps Innovation Challenge that began Jan 17 and ends March 13. He will invest his $10,000 winnings in a friend’s 5-year-old startup company and expects to gain 10% interest per ye..
You know the following information about the test for a disease: Out of the general population .6% of the population have the disease.
In a competitive model, the only valid argument for a tariff is the Optimum Tariff Argument. All other arguments are ones for subsidies.' Discuss.
How does a government budget deficit affect the economy? Identify two periods in recent history in which the United States has run budget deficits. What were the reasons for the deficits during those time periods?
Nominal and Real Values, Growth and Per Capita Issues. Year 1965 1966 1967 1968 1969 1970 GDP ($B) 4,837 5,146 5,792 6,142 6,687 7,140 CPI (1965) 100 102 106 114 126 130 Pop. (m) 116 121 151 155 162 168 Determine real per capita GDP (1965) for 1970. ..
Identify and discuss at least two economic phenomena for which the linear-in-parameters/linear-in-variables regression model may not be appropriate (besides any mentioned in the text). Select an economic phenomenon and determine which of the models d..
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