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A finite lot of 40 digital watches includes 30% nonconforming units. Using the hypergeometric distribution, what is the probability that a sample of 6 will contain 3 nonconforming watches? Show your work.
Suppose you are planning entering a market serviced through a monopolist. You currently receive $0 economic profits, while monopolist receives $5.
There are 10 flights from Minneapolis to St. Cloud each day. The probability that any one flight is late is 0.05. Using the binomial probability formula, what is the probability that 1 or more are late?
Create the strategic form payoff matrix, Determine the Nash equilibrium, Suppose the interaction is sequential where Holland Sweetener chooses to enter
A 5-card poker hand is said to be a full house if it consists of 3 cards of the same denomination and two other cards of the same denomination(of course,different from the first denomination). How many hands of full house are possible?
Assume that the companies in an oligopolistic market engage in a price war and, as a result, all companies earn lower profits. Game theory would describe this as what?
In a public opinion poll, 48% of 189 respondents favor an elimination of taxes on dividend income.
A random sample of 100 computers showed a mean of 115 gigabytes used with a standard deviation of 20 gigabytes. What is the standard error of the mean.
Ken and Gerard are roommates for a weekend and have succeeded in making their living quarters cluttered in very little time.
In order to answer the following questions, first draw a density curve describing this distribution. Pay attention to the height of the curve!
A worker faces a review every year. He prefers to spend time making if he will be reviewed; otherwise he would prefer to use time somewhere else.
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.
Determine the solution to the given advertising decision game between Coke and Pepsi, assuming the companies act independently.
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