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Let y ∈ [0, 1] be the probability that a certain slot machine yields a success. The slot machine is played n times, and the results are recorded as a vector (x1, x2, . . . , xn), where xi = 1 if there was a success on the i-th play of the slot machine, and xi = 0 otherwise.
(i) What is the probability of obtaining x for a given y?
(i) Determine the Maximum Likelihood estimate hML of y.
(ii) Is the Maximum Likelihood estimate of y unbiased?
You and your boss are having a discussion about a changing supply factor for the good you bring to market. You manufacture widgets, specifically left-handed widgets for sale in the Maryland marketplace. Your boss has won awards celebrating her entrep..
Please explain opportunity cost and some constraints the firm would face in maximizing the profit.
The more bank capital the bank holds on its balance sheet, the better off are its equity holders. Is this true, false or uncertain? Explain
A man is buying a small garden tractor. There will be no maintenance cost during the first 2 years because the tractor is sold with 2 years free repairs. The third year the maintenance is estimated at 80. Subsequent years will increase by $40 per yea..
What are the potential advantages and disadvantages of the government setting prices for goods or services in a market? What are potential advantages and disadvantages of government utilization of special taxes or subsidies for certain goods and serv..
Big Switch is a medium-sized sales organization with 100 employees with annual revenue of $10 million. Big Switch has a central office of 30 employees.
The price elasticity of a demand for a good is -0.94, the cross-price elasticity is 1.94, the income elasticity is 1.23, and consumers currently purchase 1,318 units of the good. Find the change in units demanded when the price changes -3.2 percent.
a. What was the rate of growth of per capita real GDP before the increase in population growth?
You are thinking about becoming a Paradise Coffee franchisee. Franchisees are offered a business specializing in producing an exclusive line of exotic coffee drinks (similar to Starbucks). What is the estimated explicit (accounting) cost of your prop..
And what they are designed to do, the impact of the exceptions, and whether you think they are successful in preventing unethical behavior.
what is the return on operating capital that BIDDLE is currently deriving? Then if J.P. Morgan chase is loaning operating capital to the company at 7.5%, what is the cost of capital for the BIDDLE Company and is the company covering opportunity c..
A series of quarterly cash flows began with the first cash flow on April 1,1990 and ends with the last cash flow on January 1,2000. The first quarterly cash flow is equal to $24,000. Each successive cash flow increases $850. The series of quarterly c..
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