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John’s preferences over toothpaste (good 1) and beer (good 2) are represented by utility function u = ln x1+ x2. Prices are given by p1 and p2, and he has income of m. What fraction of his income does he spend on toothpaste?
Business Economics, Economics
In a random sample of 100 college student 60 were females, 65 were under 21 years of age and 15 males were 21 years of age or older, a student is selected at random from the sample. What is the probability that a female ...
Patients are randomly assigned to one of the four treatment groups to cure a disease: 1) Control 2) Experimental 1 3) Experimental 2 4) Experimental 3 There are 200 patients in the trial; 20 are randomly assigned to the ...
Programming Assignment 1: A prime number is a positive integer evenly divisible by exactly two positive integers: itself and 1. The first five prime numbers are 2, 3, 5, 7, and 11. Sometimes two consecutive odd numbers a ...
When asked to call heads or tails for a coin toss, are people equally likely to choose heads or tails? Conventional wisdom indicates that people tend to pick heads more often than tails. What are the observational units ...
Is Implementing TQM can be difficult & expensive. 1) What do you think are the top 3 or 4 causes of implementation failure? 2) Why are these issues are such a problem.
Suppose that a firm that produced buttons had a production function given by: q= 4L 0.5 K 0.5 . The firm has 16 units of capital in the short run. Determine the amount of labor required to produce 64 units of output ...
In an experiment with equiprobable outcomes, the sample space is S = {1,2,3,4} with P(s) = 1/4. A1 = {1,3,4}, A2 = {2,3,4}, A3 = ∅(null set). Are the events independent? Show all works.
You are the sales manager supervising a sales force of three in a kitchen appliance department. You are considering changing the compensation and would like to know if there is a significant difference in sales among the ...
Give an example of a binary relation which is connected and transitive but not reflexive.
A team of researcher randomly separates their Study's participants into two groups, giving one group a placebo and the other a new treatment to be tested. As the treatment i not experimental, both participants and resear ...
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Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate
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