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Consider four independent rolls of a 6-sided die. Let X be the number of 1s and let Y be the number of 2s obtained. What is the joint PMF of X and Y?
Interpret the coefficient on log(dist). Is the sign of this estimate what you expect it to be? Do you think simple regression provides an unbiased estimator of the ceteris paribus elasticity of price with respect to dist? (Think about the city's d..
Consider the demand and supply curves for rental apartments: Qd= 1000 - P, Qs=P - 100. Assume that the government imposes a price ceiling on rental apartments of 400. In this situation the deadweight loss is equal to
Since Fall of 2011, the price of oil has shown a sharp increase again as continuation steady rise in oil price attributed to the Arab Spring (the political uprising in the Middle Eastern and North African countries) started in the beginning of 201..
Which of the two specifications fits the data better? How can you tell? What is one advantage of running a logit regression instead of estimating a linear probability model with OLS?
When she charges $4 per pie, she sells 30 pies per week. When she charges $5 per pie, she sells 24 pies per week. If she charges $4.50, she sells 27 apple pies per week.a. Is the apple pie market perfectly competitive
Remember that a good essay begins with an interesting introductory paragraph with a focusing thesis statement, then moves to body paragraphs that support the thesis using specific elements from the story (including commentary, analysis, reflection..
A U.S. dollar costs 7.5 Norwegian kroner, but the same dollar can be purchased for 1.25 Swiss francs. What is the Norwegian krone/Swiss franc exchange rate?
Consider a bilateral bargaining situation, in which both the seller's cost c and the buyer's valuation v are distributed uniformly on [0, 1]. The buyer and seller play a trading game, in which the rules are as follows.
Susan consumes apples and bananas. Her utility function is given by U(A,B) = AB where A is the quantity of apples and B is the quantity of bananas. Sarah is maximizing her utility by consuming 5 apples and 10 bananas. With the number of apples on ..
Is the statement that "Inflation is always and everywhere a monetary phenomenon" a statement that refers to the medium run or the short run?
Revenue at a major cellular telephone manufacturer was $1.4 billion for the nine months ending March 2, up 97 percent over revenues for the save period last year. Management attributes the increase in revenues to a 137 percent
design specifications require that the diameter of an automotive axel measure 200 plusmn 18 mm. the milling process
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