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There are 6 white balls and 4 red balls in an urn. Consider selecting one ball at a time from the urn. What is the probability that the first ball is white and the second ball is also white? Express the probability in fraction format. (Show all work.)
(a) Assuming the ball selection is with replacement.
(b) Assuming the ball selection is without replacement.
It has been estimated that private prisons are about 10 percent cheaper, on a every prisoner basis, than public prisons.
During a holiday period do you think the price elasticity of demand for airline tickets would be the same as in the off-season or would it become more elastic
HI5003 Economics for Business Assignment. GDP - Compare Australia with any other economy and discuss their GDP last 2 to 5 years and factors affecting their GDP. Unemployment - Discuss the unemployment rate, types, issues, and government policy of ..
Select an article from The Wall Street Journal or some other business or economic periodical that relates to the economic topic(s) covered in Workshop Two. Prepare a one to two page analysis of your article . Be sure to include the topic, the author’..
What are the positive and negative aspects of budget deficits and surpluses? What policy is best for today's economy? Explain your answer.
Suppose the government institutes a tax on soft drinks. Assume that short-run and long-run demand curves are the same, while the long-run supply curve is more elastic than the short- run supply curve. Compare the tax incidence in the short run to the..
The introduction of a stylish line of Toyotas makes some consumers prefer foreign cars over domestic cars. d. The central bank doubles the money supply. e. New regulations restricting the use of credit cards increase the demand for money.
As the price level rises
Suppose that, using past data, the staff of the Board of Governors of the Federal Reserve estimates the currency-to-deposit ratio equals 40 percent and the excess reserve-to-deposit ratio equals 6 percent. Using the multiplier model of the money supp..
A random group of 20 depressive patients has been given the MMPI. Their scores on a depression scale are as follows:
A building contractor buys 70?% of his cement from supplier A and 30?% from supplier B. A total of 85?% of the bags from A arrive? undamaged, and a total of 95?% of the bags from B arrive undamaged. Find the probability that a damaged bag is from sup..
Suppose that the U.S. noninstitutional adult population is 206 million and the labor force participation rate is 67%. What us the size of the labor force? If 72 million out of the 206 million adults are not working, what is the unemployment rate?
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