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Tennessee just instituted a state lottery. The initial jackpot is $100,000.00. If the first week yields no winners, the next weeks jackpot goes up, depending on the number of previously players who placed the $1.00 lottery bets .The probability of winning is 1 in 1 million(1-10-6) What must the jackpot be before the expected payoff is worth your $1.00 bet. Assume that the state takes 60% of the jackpot in taxes, that no one else is a winner, and that you are risk -neutral (i.e. you value the lottery at its expected value).
Suppose that David has $1000. In the beginning of a year he decided to put his money in a saving account with 5% interest rate per year. The CPI was 150 in the beginning of that year. He expected that the CPI would be 153 in the beginning of the n..
Michael Illitch bought the Detroit Tigers in 1992 for $82 million, which amounted to $114.15 million in 2005 dollars. By 2005, the Tigers were worth $292 million. Calculate the real compound annual rate of return on that investment.
How much can Wells Fargo lend to developer who will repay the loan by selling first 6 view lots out of 13 lots at $190,000 each 2 year from now Assume the bank will lend at a nominal 14% per year, compounded semiannually.
The ending inventory units were 100% complete as to material and 50% complete as to labor. overhead is applied to production at the rate of 60% of direct labor cost. determine the unit production costs for material and conversion.
Suppose income declines by 2.85%, how much do I have to cut value in order to maintain existing customers and it begins with being given a regression analysis that has the following:
Given the simple demand schedule information in the table above, calculate the coefficient of price elasticity of demand four times. Note that the coefficient of price elasticity of demand over the entire range of the demand schedule is 1, indicat..
An alternative for manufacturing a certain part has a first cost of $50,000, an annual cost of $10,000, and a salvage value of $5,000 after its 10 year life. At an interest rate of 10% per year, what is the capitalized cost of the alternative
Annual revenue from operations = $290,040 Payments to workers = $160,003 Utilities (electricity, water, disposal) costs = $8,010 Entrepreneur's potential economic profit from the next best entrepreneurial activity = $80,100
A radiology firm charges $2,000 per exam. An insurer's allowed fee is 80 percent of charges. Its beneficiaries pay 25 percent of the allowed fee. If the radiology firm raised its charge to $3,000.How much would the insurer pay
Suppose that the CAPM is a good model of risk in the stock market. Suppose also that the average excess return on stocks is 10% and that the risk free interest rate is 1%. What would you expect to be the return to stocks with each of the following..
Suppose a tax on beans of $0.05 per can is levied on firms. As a result of the tax, the equilibrium price increases from $0.20 to $0.22. What fraction of the incidence falls on consumers Suppose the supply elasticity is 0.6. What must the demand e..
You are buying a new car for $20,000. You signed a contract for the loan for 4 years. Your loan has an interest rate of 12% interest (APR). You make monthly payments and the interest is compounded monthly. What is the monthly interest rate
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