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For a class activity, your group has been assigned the task of generating a quiz question that requires use of formula for conditional probability to compute P(B/A). Your group comes up with the following question" "If P(A and B) -0.40 and P(A) =0.20, what is the value of P(B/A)?" What is wrong with this question? Hint: Consider the answer you get when using the correct formula, P(B/A) = P(A and B)/P(A).
In a one shot game, if you promote and your rival promotes, you will earn $7 million and your rival will earn $2 million in profits.
Consider trade relations in the United State and Mexico. Suppose that leaders of two countries believe the payoffs to alternative trade policies are as follows:
The market for olive oil in new York City is controlled by 2-families, Sopranos and Contraltos. Both families will ruthlessly eliminate any other family that attempts to enter New York City olive oil market.
Question: If you were to roll a single die 10 times, the result of each roll would be __________ A) Mutually exclusive of the other nine rolls B) Proportional to the other nine rolls
Nine randomly selected statistics quiz scores are listed below. Use a .10 level of significance to test the claim that the variance of all scores in the population is more than 9. 15,18,10,19,11,12,15,17,15
Barbara and Juanita, Two basketball players, are best offensive players of the school's team. They know if they work together offensively-feeding the ball to each other,
In a study to estimate the portion of residents in a certain city and its suburbs who favor the construction of a nuclear power plant, it is found that 63 of 100 urban residents favor the construction while only 59 of 125 suburban residents are in..
For what values of p is a 5-component system more likely to operate effectively than a 3-component system?
Suppose two companies, A and B, that produce super computers. Each can manufacture the next generation super computer for math or for chip research.
Test the hypothesis that random variable 30.4 31.2 30.8 29.9 30.4 30.7 29.9 30.1 come from a normal distribution with mean 30.5. The standard deviation of the measurements is known to be 0.1
A telemarketing firm in a certain city uses a device that dials residential telephone numbers in that city at random. Of the first 100 numbers dialed, 51% are unlisted. This is not surprising because 48% of all residential phone numbers in this ci..
Describe the meaning of a Nash Equilibrium when companies are competing with respect to price. Explain why is the equilibrium stable?
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