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1. Why must the probabilities of the possible outcomes of a lottery add up to 1?
2. What is the expected value of a lottery? What is the variance?
Find the demand equation assuming that it is linear. Plot the graph and determine the maximum monthly ridership if bus rides were free. Does a linear model seem appropriate near p = 0?
do you think you will get a good deal from this company?
Economan has been infected by the free enterprise bug. He sets up a firm on extraterrestrial affairs. The rent of the building is $4,000, the cost of the two secretaries is $40,000, and the cost of electricity and gas comes to $5,000.
What should Liu do? He has only minutes to determine how he can juggle these competing demands and how he should approach these issues.
Drink Tax: The weekly supply Qs(p), and demand, Qd(p), of beer in a city are given by: Qs(p) = p; Qd(p)=6.2 - .55*p where p is the price of a beer in dollars and quantities are in hundreds of thousands of beers. To find the equilbrium quantity and..
The P-values for the Shapiro-Wilk test for the data appearing in probability plots (a) and (b) are 0.235 and 0.00015. Which P-value corresponds to which plot? What is the basis for your decision?
How does the strength of other economies outside of the U.S. affect your organization?
A professor's rule of thumb is that students should spend 2 hours studying for each 1 hour spent in class. Professor Bob teaches a class that meets 3 hours per week. He randomly selects 8 students and finds that they study the following amounts pe..
A sample of 60 individuals, all in reasonably good health, was selected; 20 individuals were residents of Florida, 20 were residents of New York, and 20 were residents of North Carolina.Each of the individuals sampled was given a standardized test..
List the basic elements that should appear in an unqualified auditor's report.
Assume the demand function for basketballs is given by QD = 150 - 3P + 0.1I, where P = price of a basketball and I = average income of consumers. Also, assume the supply of basketballs is given by QS =2P. If the market for basketballs is perfectly..
In a given day, once you subtract 8 hours for sleep, you effectively have 16 hours from which you can choose to work or enjoy leisure (that is to say, sleep doesn't count as leisure). You have a job that pays $20/hour and that is your only source ..
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