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A college basketball player makes 77% of his free throws. At the end of a game, his team is losing by two points. He is fouled attempting a three-point shot and is awarded three free throws. Assuming each free throw is independent, what is the probability that he makes at least two of the free throws?
A local company drafted a proposal to invest $1,200,000 on this product resulting annual change in cash flow of $200,000 over 20 years period with interest rate of 5% should we accept the proposal what if the interest rate changes to 20%
Assume that the market equilibrium rent for two-bedroom apartments in Santa Monica, California is $1500 per month and the quantity is 40,000 units. The city council of Santa Monica establishes a rent control of $1200 per month on two-bedroom apart..
a farmer buys a new tractor for $146,000 and assumes that it will have a trade-in value of $92,000 after 10 years. the farmer uses a constant rate of depreciation to determine the annual value of the tractor.
Consider a Cournot game in which there are two firms that face a market demand represented as Q = 500 - p and the cost function of firm i is Ci(qi)=50qi. Part a . Derive the best response functions for each firm. Part b . Calculate the Nash Equilib..
The equation of exchange is MV = PQ, where M is the money supply, V is the velocity of money, P is the price level, and Q is real GDP. The island economy of Monet is rather simple. The only good produced in Monet is "Things," and the island is abl..
Enrollment at City University is increasing 3% per year, its cost per credit hour is increasing 8% per year, and states funds are decreasing by 4% per year. State funds currently pay half of the costs for City U., while tuition is required
A person arranges to repay a a$1000 bank loan in 10 equal payments at a 10% annual interest rate. Immediately after his third payment he borrows $500, also at 10% annual interest rate. When he borrows the $500, he talks the banker into letting him..
Demand estimation for brand-name consumer products is made difficult by the fact that managers must rely on proprietary data. There is simply not enough publicly available data, which can be used to estimate demand elasticity for brand-name produc..
What is the firm's individual supply curve Suppose that the price of typewriters is p = $20. How many typewriters should the firm produce to maximize profit What is the firm's profit at this price For what price does the firm make positive profit
This is, in part due to the fact that the company spent 1.2 billion developing the drug and obtaining FDA approval. An economist has estimated that, at the current price of $1.25 per pill, the own price elasticity of demand for the drug is -2.5.
A movie producer has to decide whether to bid for the film rights of a modestly successful novel. If he bids, he believes there is a 90% chance that he will be successful in obtaining the rights. If the bid is unsuccessful he will have to pay lega..
Suppose we are interested in bidding on a piece of land and we know one other bidder is interested.1 The seller announced that the highest bid in excess of $10,000 will be accepted. Assume that the competitor's bid x is a random variable that is u..
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