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A certain cancer is found in 1 person in 5000. If a person does have the disease, in 92% of the cases the diagnostic procedure will show that he or she actually has it. If a person does not have the disease, the diagnostic procedure gives, in 1 out of 500 cases, a false positive result. Determine the probability that a person with a positive test result has the cancer.
How does Mancur Olson explain differences in economic performance of nations by the concept of public goods?
What is the probability that a bottle would have a mean of more than 20.3 oz?
What single amount on October 1 , 2012 , is equal to a series of $1000 quarterly deposits made into an account ? The first deposit occurs on October 1, 2012, and the last deposit occurs on January 1 , 2026. The account earns 13% compounded continuous..
The President of the United States receives an annual salary of $400,000. Aaron Judge, outfielder for the New York Yankees
The Darwin Economy question: Why is the title of chapter 6 called, Perpetrators and Victims, and how does it relate to the work of Ronald Coase?
The Federal Reserve Discount Window was fundamental to the founding of the Fed in 1913. And while the basic structure has stayed the same, in at least one way its importance has been diminished and in at least one way its importance remains significa..
Discuss how a business manager might use CPI statistics? Find the annual CPI index numbers for gasoline prices for the years of 1995, 2000, 2005, 2010 and 2015.
Products, like people, are viewed as having a life cycle. Product life stage cycles include (a) Introduction, (b) Growth, (c) Maturity, and (d) Decline. What Life stage would you say the following items reside? What marketing strategies would you sug..
However, during nonwinter months tourism drops dramatically and travelers have no problem securing rental car reservations. Determine the optimal pricing strategy, and explain why it is the best pricing strategy.
An argument can be made that the Government could improve consumer welfare by requiring companies to provide accurate information to consumers about their products. Should the Government increase, decrease or remain the same in its level of intervent..
Find the equilibrium quantity and price. Calculate consumer surplus, producer surplus, and total surplus in this market.
How do we fight a recession using Monetary Policy (Make sure to include the 4 tools of monetary policy and how we should use them.) and Fiscal Policy (Make sure to include all appropriate graphs and equations):
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