What is probability of making correct prediction by chance

Assignment Help Macroeconomics
Reference no: EM13208185

The soccer league in 1 community has 5 teams. You are required to predict, in order, the top 3 teams at the end of the season. Ignoring the possibility of ties, calculate the number of different predictions you could make. What is the probability of making the correct prediction by chance?

Reference no: EM13208185

Questions Cloud

Are the events mba and over age 35 mutually exclusive : Staff inc, a management consulting company, is surveying the personell of Acme Ltd. It determined that 35% of the analysts have an MBA and that 40% of all analysts are over age 35. Further, of those who have an MBA, 30% are over age 35.
Compute the eocell of the unfavored reaction : determine if a redox reaction would occur if you were to mix them in a single solution. For those pairs of substances that would not react, calculate the EOCELL of the unfavored reaction between the two substances.
Calculates how many km had went a man : Write a program that calculates how many km had went a man and how far he was from the initial point .
Determine which resumes are chosen for further scrutiny : determine which resumes are chosen for further scrutiny. Is such screening fair to applicants? Why or why not? Justify your answers using examples and reasoning.
What is probability of making correct prediction by chance : The soccer league in 1 community has 5 teams. You are required to predict, in order, the top 3 teams at the end of the season. Ignoring the possibility of ties, calculate the number of different predictions you could make.
How much tier 1 and tiear 2 capital is required : Suppose that the assets of a bank consist of $500 million of loans to BBB-rated corporations. The PD for the corporations is estimated as 0.3%.
Explain three-methylcyclohexene and methylenecyclohexane : Do you think you could distinguish between 3-methylcyclohexene and methylenecyclohexane by their GC retention times?
How the reduction in supply from the reduced fishing waters : On april 20, 2010 an oil drilling platform owned by British Petroleum exploded in the Gulf of Mexico, causing oil to leak into the gulf at estimates od 1.5 to 2.5 million gallons per day for well over two months. Due to oil spill, the government c..
Determine how much oil is purchased : b.If the United States imposed a price ceiling of $18 per barrel on the oil market, would there be an excess supply or an excess demand for oil How much c.Under the price ceiling, quantity supplied and quantity demanded differ. Which of the two wi..

Reviews

Write a Review

Macroeconomics Questions & Answers

  Assume the government proposes to tax these benefits

Assume the government proposes to tax these benefits at the same rate as other types of income. What is the impact of the proposed tax on the optimal retirement age.

  Explore how a firm determines the optimal scale of a plant

Explore how a firm determines the optimal scale of a plant for a given rate of output and why this determination relates to longer run strategies versus current operations. Also, discuss the differences between economies of scale and economies of ..

  Relationship among fiscal and monetary policy in an open

Analyze the relationship among fiscal and monetary policy in an open economy.

  Explain the price elasticity of demand of widgets

Suppose the price of widgets falls from $7 to $5 and consumption of widgets rises from 15 widgets a month to 25 widgets.calculate the price elasticity of demand of widgets.

  Determination of equilibrium price and quantity demanded

Suppose that Demand and Supply curves for coffee bean is given by-What value of t maximizes Government's tax revenue?

  Elucidate these factors in terms of the production curve

Illustrate what is the efficiency factor. Elucidate these factors in terms of the production possibilities curve.

  Pricing policy that should adopt by transportation authority

The total operating revenues of a public transportation authority are $100M while its total operatiing costs are $120M.

  Find hannahs nominal wage increased or decreased

hannah and her employer both expected inflation to be 3% between 2010 and 2011, so they agreed in a two year contract $12.00 an hour in 2010 and $12.36 per hour in 2011. However suppose inflation between 2010 and 2011 was only 2% not 3%.

  Illustrate what is internal rate of return for the college

Illustrate what is the internal rate of return for the college investment that this person faces. Write out the equation used to evaluate the net benefit.

  Description of scarcity

Explain the trade-offs between any three of these options. In other words, what will you gain, and what will you have to give up if you choose each of the three options?

  Compute the compensating and equivalent variations

Compute and interpret the compensating and equivalent variations for this tax.

  Explain how does the marginal price for a product like

Explain how does the marginal price for a product like this differ from a product like automobiles. What relevance might there be to this difference.

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!

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