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(3) z-score in complexchoicesAssumethere are 25 subjects that have to find 4 identical wines in a sample of 20 wines.
(a) What is the random chance for any person of being right?
(b) Assume only 1 of 25 people found the matching 4 wines. Is this different from random? Calculate the z-score and interpret it referring to its significance.
Automobile prices are notoriously negotiable, but the limits to negotiation are set by market conditions. How would the negotiating position of a seller, and consequently the markup, change if a car was rare and in high demand? What does this imply a..
Find the Herfindahl index for the industry composed of a) three firms-one with the 70 percent of the market, and the other two with 20 and 10 percent of the market, respectively; b)one firm with a 50 percent share of the market and 10 other equalized..
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consider a landscaping service market. here landscaping means mowing weeding and trimming etc i.e. a regular
how many years will it take the dollar's purchasing power to be one half what it is now. if the general inflation rate is expected to continue at rate of 6% for an indefinite period
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Using demand and supply and competitive analysis, describe what happens to a pharmaceutical company's revenues and profits from an individual drug once it loses its patent protection. Then identify at least one strategy the company can use to mitigat..
Penny is making pipe cleaner flowers to sell on Etsy for $1 apiece. Penny and her friends become more efficient as they gain practice in flower production. The first 100 flowers cost $1.50 apiece. The next 100 cost $1.25 apiece. The next 100 cost $1...
Consumers stand to benefit from more accurate and informative advertising. Accept, for the sake of argument, that the advertisements do create a false impression. Pharmaceutical companies, publishers, and broadcasters have an interest in maintaining ..
Industry studies often suggest that firms may have long-run average cost curves that show some output range over which there are economies of scale and a wide range of output over which long-run average cost is constant.
john barks owns barks computer screens inc. and wants to identify the supply and demand for screens in his market. the
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