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Players of a lottery pay $1 for a ticket that lets them select 6 non-repeating numbers from 1 to 49. What is the probability of correctly guessing all 6 values with just one ticket?
Business Economics, Economics
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A brewery pulls 905 bottles of beer to sample them for quality control. In the past there has been a 0.12 probability that a bottle of beer is defective. Assuming this trend continues, what is the probability that fewer ...
How are prospective payments using DRGs intended to change the incentive structure for hospitals
A decision maker has ordered every commodity in Walmart alphabetically according to the commodity's name. Every time when he needs to choose from several commodities, he always choose the second one according to his orde ...
Currently, fringe benefits make up about 30% of U.S. workers' total compensation. Suppose the U.S. government decides to tax fringe benefits as ordinary income. How might this affect the level of fringe benefits as a sha ...
A researcher conducts a well-designed study to compare a sample mean to a known population mean and uses alpha=.05, two-tailed. She finds a z-test of 1.98, p-value=.048. What should she conclude? a. The 95% confidence in ...
In lecture we discussed why the production possibilities frontier (the boundary of the production possibilities set) is bowed 'outwards'. When might the production possibilities set be bowed 'inwards'? Give an example of ...
Garber and Skinner suggest that the large per capital health spending in the US (and relatively low returns to health) are due to productive and allocative inefficiencies. Which inefficiency (if either) do you think char ...
Many manufacturing problems involve the accurate matching of machine parts, such as shafts, that fit into a valve hole. A particular design requires a shaft with a diameter of 22.000 mm, but shafts with diameters betwe ...
COWCOR COPR currently has $76 million in debt outstanding with a 6% interest rate. The terms of the loan require it to repay $19 million of the balance each year. Suppose the marginal corporate rate is 40% and that the i ...
Why are farmers paid so little? The price of agricultural goods like chickens and coffee has been falling for decades and the share going to farmers has also been falling. What is the "Global division of labor" in food p ...
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