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Sam and Allen have applied for scholarships. The probability that Sam gets a scholarship is 0.87. The probability that Allen gets a scholarship is 0.78. The probability they both get scholarships is 0.75.
(a) What is the probability that Sam gets a scholarship but Allen doesn't?
(b) What is the probability neither receives a scholarship?
(c) If Sam receives a scholarship, what then is the conditional probability that Allen will also receive a scholarship?
(d) If Allen receives a scholarship, what then is the conditional probability that Sam will not receive a scholarship?
Will the offering need to be registered with the Securities and Exchange Commission (SEC) under the Securities Act of 1933? Explain. Does your answer differ if "Shares in Learning" are issued by Private College, a proprietary for-profit institution t..
Discuss the nature and function of a price index, and describe the difference between nominal and real GDP, Assume that nominal GDP for 2012 was $700B with a price index of 110 (using 2004 as the base year). What is the real GDP for 2012? Why do econ..
Young Americans (ages 21 to 30) are healthier on average and have lower expected health care costs than older Americans. Despite that, younger people have enrolled in health insurance through Affordable Care Act (ACA) at almost the same rate as older..
Where Q indicates the number of copies sold and P is the price in dollars. a. Find the price and quantity that maximizes the company’s profit. b. Find the price and quantity that would maximize social welfare (the competitive equilibrium). c. Calcula..
Distribution of costs and benefits of free trade. In other words, does everyone share in the gains and the costs equally? Competing with different labor restrictions (or lack of), such as slave or child labor. Differences in environmental standards.
Output is produced according to Q = 4LK, where L is the quantity of labor input and K is the quantity of capital input. If the price of K is $10 and the price of L is $5, then the cost minimizing combination of K and L capable of producing 32 units o..
Given your research and findings, are monopolies and oligopolies (firms demonstrating power) always bad for society? Be sure to provide real world examples of where this may be the case to strengthen your position.
The table below depicts the prices and total costs a local used-book store faces. The bookstore competes with a number of similar stores, but it capitalizes on its location and the word-of-mouth reputation of the coffee it serves to its customers.
Suppose the short run total cost functions for all existing and potential firms in a competitive industry are given by:: TC = 100 + 10 q + q 2,
Suppose there are two consumers, A and B. The utility functions of each consumer are given by: UA(X,Y) = X*Y UB(X,Y) = 2X + Y The initial endowments are: A: X = 4; Y = 2 B: X = 4; Y = 6. What is the marginal rate of substitution for consumer A at the..
If the installment plan is chosen, what is the effective annual interest rate being paid on the "loan"? (Answer: 53.7%)
Name at least two different types of hospital business structures.
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