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Suppose a random experiment can be represented by 2 sets of events ,Ai and Bj, with each pair of sub events (A1 and A2, and B1, and B2) being mutually exclusive and collectively exhaustive. Find the conditional probabilities P(B1 | A1) and P(B2 | A1) by using Bayes' theorem and P(A1 | B1) = 0.6, P(A1 | B2) = 0.5, P(B1) = 0.3, and P(B2) = 0.7
The price at point a is $70 and the price at point c is $10 per bag. The price at point d is $56 and the price at point e is $31 per bag. The price at point f is $67 and the price at point g is $32 per bag. Apply the formula for the area of a trian..
A local restaurateur whose business had been profitable for many years recently purchased a liquor license, giving her a legal right to sell beer, wine and spirits at the restaurant. The license cost $75,000. While the license is transferable
Sam is subject to a 40 percent tax on income, and her after-tax income is 90,000. Now suppose the government permits her to deduct her contributions (to oscar0 from her income before the 40 percent tax rate is applied. How will this deduction affe..
At the profit maximizing outputrate, what are the monopolist's average total cost and averagerevenue At the profit maximizing outputrate, what are the monopolist's total cost and total revenue What is the maximum profit
A bauxite mine can be purchased for $20,000,000 and is expected to yield $5,300,000 annually for the next 20 years. After that, the mine is closed and $4,000,000 will be required to restore the site to original environmental conditions
A rich graduates of engineering program at your University wishes to start an endowment that will provide scholarship money of $40,000 per year beginning in year 5 and continuing indefinitely.
Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Value, Compensation of employees $216.2, U.S. exports of goods and services 19.8, Consumption of fixed capital 11.8,Gover..
Tamara received $500,000 from an insurance company. She wants to to deposit this in a savings account that earns interest at a rate of 6% compounded monthly. Then she would like to make 60 equal monthly withdraws over five years.
If the Federal Reserve wants to keep the annual inflation rate constant at 1 percent, and the average growth rate of real GDP over time is 3 percent per year, how fast should the money supply grow on average over time to achieve the target inflati..
The Third National Bank has reserves of $20,000 and checkable depositts of $100,000. The reserve ration is 20%. Households deposit $5,000 in currency into the bank that is added to reserves
The bank pays a. 10%, b. 11.25%, per year, compounded annually, on such deposits. What is the maximum fixed amount Mr. Jones can withdraw at the end of each year and still have the funds last for 15 years? Ans: a.$9,203.16; b. 9,869.27
Tony spends $36 per month on cookies. For him, chocolate chipcookies and peanut butter cookies are perfect substitutes.Chocolate chip cookies are $4 per dozen and peanut butter cookiesare $3 per dozen.
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