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Suppose that a medical test has a 92% chance of detecting a disease if the person has it (i.e., 92% sensitivity) and a 94% chance of correctly indicating that the disease is absent if the person really does not have the disease (i.e., 94% specificity). Suppose 10% of the population has the disease.
(a) What is the probability that a randomly chosen person will test positive?
(b) Suppose that a randomly chosen person does test positive. What is the probability that this person really has the disease?
In the 2010 holiday season, Steve Richardson decided to cut the prices of his handcrafted wooden puzzles to increase sales. According to a newspaper account, "the number of orders at Stave Puzzles Inc., his Norwich, Vermont, business, hasn't been ..
a study of the costs of electricity generation for a sample of 56 british firms in 1946-1947 yielded the following
A large employer gives each new hire an aptitude test, which is scored from 1 to 20. Let T be a worker's score on the test. The firm then pays the new worker a wage of w = 0.57' + 0.5G where G is the average score for the worker's gender: 16 for wome..
At the end of 1973 Japan had a per capita real output of $14,379. If, on average, Japan’s real per capita output grew at a rate of 3 percent per year between 1973 and 1993. What would Japan’s output per capita have been at the end of 1993?
to implement the program you must write several subroutines and a main program to operate an engine control unit which
You are the owner of a family-owned restaurant. You do not pay yourself a salary or an hourly wage. How and why does this practice affect the economic cost of serving your patrons?
Use the IS-LM-FX model to illustrate the effects of the temporary shock and the policy response. (Note: Assume the government responds by using monetary policy to stabilize output.) For each case, state the effect of the shock on the following dom..
Write a critical commentary on the Stern review on climate change from the perspective of African nations. You can use case studies of one or more African nations.
Express variable cost (VC), total cost (TC), and marginal cost (MC) as functions of L and as functions of Q; and average variable cost (AVC), average fixed cost (AFC) and average total cost (ATC) as functions of Q.
What is the value of the vertical intercept of the aggregate expenditures function when we add net exports. What is the total (equation wise) of autonomous spending with net exports added.
to the permanent income hypothesis, households will tend to react to a temporary tax cut by assuming the new tax level will be permanent.
1. in a perfectly competitive industry in the short run if the government places a per - unit tax on output which of
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