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Suppose you are dealt two cards from a standard deck of playing cards. a) What is the probability of being dealt a pair of aces? b) There are 13 possible pairs possible (Aces through Kings). What is the probability of being dealt a pair of any type (That is, the probability of a pair of Aces OR 2s OR 3s, etc.)? c) What is the probability of being dealt two cards of the same suit? d) What is the probability of being dealt any two cards greater than a 10? This includes Jacks, Queens, Kings, and Aces.
Another area where monetarists differ from Keynesians is money supply and interest rates. In the Keynesian analysis with less than full employment level equilibrium, the interest r
Compute the following probabilities a) If Y is distributed N(1,4) find Pr(y ? 3) b) If Y is distributed N(3,9) find pr(y>0) c) If Y is distributed N (50,25) find pr(40?Y?5
Write the compensation principal of socitovsky
It refers to the study of feasibility of a project in terms of its total economic cost and total economic advantages. It means to compare total cost with total advantage if we
What are the different stages of analysis in planning activities?
Explain about the diminishing returns to an input. There are diminishing returns to an input while an increase within the quantity of which input, holding the levels of each of
Now we will analyse how macroeconomic variables fit together and present models which explain the main macroeconomic variables. Using these models we can, for instance, analyse
Question 1 Consider an investor who has the von Neumann-Morgenstern utility index u(x ) = 3 + 4√ x An investment provides income according to two possible future scenari
Money is anything which is acceptable in settlement of a debt. But, paradoxically, the main asset used to settle debts in modern economies is other debts. After all, bank deposits
Financial Development A well developed financial system is very essential for the smooth functioning of any economy. One set of important statistical indicators that is used to
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