User Account

All Pages

Define the set of outcomes

Assignment Help Business Economics
Reference no: EM133083129

Three friends decided to meet at 10 AM. The first friend will be late with probabil- ity 20%, the second friend will be late with probability 40%, and the third friend with probability 50%. Assume the friends will be late independently of each other.

(a) Define the set of outcomes and define on it the random variable X, the number of friends who come on time.

(b) Find the distribution of X.

Reference no: EM133083129

Questions Cloud

Explain the federal funds rate being lower : What can explain the federal funds rate being lower than the interest on excess reserves?
Sustainability of the public pension plan : Explain how the aging of the baby-boom generation may affect the dependency rate and as a result, may threaten the sustainability of the public pension plan?
Lorena income and the cost of types of entertainment : Lorena likes to play golf. How many times per year she plays depends on two things: (1) the price of playing a round of golf, and (2) Lorena's income and the c
How extensive was the area affected : How extensive was the area affected?
Define the set of outcomes : (a) Define the set of outcomes and define on it the random variable X, the number of friends who come on time.
Maintain caiptal-asset ratio : If banks experience high default risk on a sovereign bond and the bond experiences higher interest rate and higher bond yields, banks uses assets to meet to its
Discuss gagne events of learning : Discuss how gagne's events of learning can help one to be an effective teacher.
Write the element stiffness matrix for each of the members : Write the element stiffness matrix for each of the members in the truss and Write the reduced global matrix by applying boundary conditions
Innovation through intellectual property protection : Patenting creates a monopoly but it also encourages innovation through intellectual property protection.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd