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A traveler has to pass tests of increasing difficulty to meet an Eastern mystical master. For the first test, he meets a pair of twins at a fork in the road: one path leads to the jungle, the other to the mystic. One of the twins always says the truth, the other always lies. What yes/no question should you ask one of the twins to determine the path that goes to the mystic? For the second test, the traveler encounters a second fork in the road. Again, one path leads to the jungle, the other to the mystic. This time, there are three look-alike brothers: one always tells the truth, the second always lies but the third sometimes tells the truth and sometimes lies. What two Yes/No questions should the traveler ask two of the brothers to determine the path to the mystic? Each question is answered by only the brother it is posed to. For the second question, the traveler may choose the brother and the question depending upon the answer to the first question.
Give your opinion on whether being an effective critical thinker makes decision making easier or more challenging. “The major difference between a successful person and one that is not successful is that the successful person, over time, tends to mak..
Suppose the labour market in the house cleaning industry in Quebec City can be described by the following demand and supply equations: LD = 400 - 10w and LS = 40 + 20w. Calculate the equilibrium wage and employment if the market is free. Draw a graph..
(a) Alalyze full the assumption of "homocedasticity" of a CLRM. Moreover, which are the differences wit heteroscedasticity? (b) Analyze fully the assumption of specification bias and use an example to show your intuition.
The present value of a perpetuity that pays $F every year when the annual rate of discount is i is? Consider a three-year fixed-payment security that has a present value of $1,000. If the annual rate of discount is 7 percent, the payment made at the ..
Maxwell Software, Inc., has the following mutually exclusive projects. Year Project A Project B 0 –$24,000 –$27,000 1 14,000 15,000 2 10,500 11,500 3 3,300 10,500 a-1. Calculate the payback period for each project. What is the NPV for each project if..
Flexible Felix views present and future consumption as imperfect substitutes and he discounts future consumption by a bit to reflect the uncertainties of his life. His utility function is given by U(C_0,C_1 )=3C_0+(4C_1) ⁄ ((1+δ) ) where δ (which is ..
q1. tanisha owns one share of ibm stock which is currently trading at 80. there is a 50 chance that the share price
A banks loan officer rates applicants for credit. The ratings are normally distributed with a mean of 200 and a standard deviation of 50.
How does game theory explain why strategic moves fluctuate? Some oligopolies use a form of implicit cooperation called price leadership, which is legal in the US. Why do you think these firms try to engage in this practice? And why does price leaders..
Caliber Home Loans is one of the few new players in the subprime market that have emerged post-financial crisis. Briefly describe the similarities and differences between the pre-crisis subprime market and Caliber's business model as described in our..
The price elasticity of demand is: The demand curve for physician office visits is quite inelastic; therefore, a:
Discuss binding price ceiling and binding price floor with an example. Your answersmust companytwo diagrams, one for each. Youare allowed
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