Question 1 The unemployment rate of persons with a disability is typically higher than for those with no disability. Recent statistics report that the unemployment rate amongst those with a disability is 14.5%. An advocacy group in Sydney selects a random sample of 250 people with a disability. What is the probability that no more than 30 people in this sample are unemployed? Use the sampling distribution of the sample proportion.a. 0.0018b. 0.1314c. 0.9500d. 0.8686e. 0.6573Question 2Suppose that in the exit poll from the state of Florida during the year 2000 presidential elections in the United States, the pollsters recorded only the votes of the two candidates who had any chance of winning, Democrat Albert Gore and Republican George W. Bush. The polls close at 8:00 PM.The number of votes cast for the Republican in the poll is x=407. The sample size is n=765. Estimate the population proportion of republican voters with 95% confidence level.Use TWO decimal points accuracy. a. Lower Bound 53.15% and Upper Bound 53.26%b. Lower Bound 49.66% and Upper Bound 56.73%c. Lower Bound 50.23% and Upper Bound 56.67%d. Lower Bound 51.48% and Upper Bound 54.91%Question 3Consider a coin tossing game where you win 9 dollars if a head appears on a single toss of a fair coin but you lose 9 dollars if a tail appears. Let the random variable R represent the return on a single toss.What is the variance of R?Question 4Let p be the probability of success in a binomial experiment.Of the following values of p, which one will produce a binomial probability distribution with the smallest standard deviation, given that the sample size is the same in each case?a. p=0.3b. p=0.5c. p=0.7d. p=0.8Question 5Let possible level of returns from a portfolio of shares be classified as low, medium or high.The table below shows the marginal probability distribution for returns.Returns low medium highProbability 0.3 p 2p What should p equal in order for this to be a valid probability distribution? (Your answer should be correct to two decimal places.)Question 6A statistics instructor believes that fewer than 20% of Silk Valley College (SVC) students attended the opening night midnight showing of the latest Star Wars movie. She surveys 84 of her students and finds that 11 of them attended the midnight showing. At a 1% level of significance, an appropriate conclusion is:a. There is insufficient evidence to conclude that the percent of SVC students who attended the midnight showing of Star Wars is less than 20%b. There is sufficient evidence to conclude that the percent of SVC students who attended the midnight showing of Star Wars is more than 20%c. There is sufficient evidence to conclude that the percent of SVC students who attended the midnight showing of Star Wars is less than 20%d. There is insufficient evidence to conclude that the percent of SVC students who attended the midnight showing of Star Wars is at least 20%e. None of the aboveQuestion 7Suppose 0.3 of the graduates of a job training centre receive lower paying jobs than they had prior to entering the job training program.In a random sample of six graduates, what is the probability that exactly five have jobs paying more than they earned before entering the program? (Your answer should be correct to four decimal places.)Question 8A Tasmanian pet training school has a larger than average proportion of clients who compete in competitive professional events. A confidence interval for the population proportion of dogs that compete in professional events from 150 different training schools is constructed. The lower limit is determined to be 0.08 and the upper limit is determined to be 0.16. Determine the level of confidence used to construct the interval of the population proportion of pets that compete in professional events. What is the closest to the correct answer?a. 95% confidence levelb. 86.9% confidence levelc. 99% confidence leveld. 90% confidence levele. 81.7% confidence levelQuestion 9From considerable past experience, a student knows that the time elapsed between placement of a pizza order and delivery of the pizza is uniformly distributed between 10 and 40 minutes.What proportion of pizza deliveries take between 20 and 36 minutes? (Your answer should be correct to two decimal places.)Question 10It is known that 45% of your local electorate voted for the political party in government at a recent election.In a random sample of eight drawn from the local electorate, what is the probability that less than four voted for the party in government?a. 0.7396b. 0.7799c. 0.9115d. 0.4770Question 11The following joint distribution that has been constructed using data from the 1995 National Health Survey conducted by the Australian Bureau of Statistics. This is a large, nationally represented survey of Australians. The data in the Table refer to whether an individual has used any medications in the last 2 weeks prior to interview and their self-assessed health status (SAHS). For SAHS individuals are asked to rate their current health on a five-level scale ranging from poor to excellent. Table : Joint frequency distribution of self assessed health and use of medications for Australians in 1995 Self-assessed health Excellent Very good Good Fair Poor TotalsUse medication 10.7 20.7 20.0 9.7 3.5 64.6No medication 9.4 13.7 9.7 2.2 0.4 35.4Totals 20.1 34.4 29.7 11.9 3.9 100.0 Using the distribution as an estimate of the population distribution, which of the following is not correct?a. The probability that a randomly selected Australian did not use medication in the last two weeks is 0.354b. The probability that a randomly selected Australian is in fair health is 0.119c. Australians in poor health are much more likely to be using medications than not using medicationsd. The conditional probability of being in excellent health given not using medications is equal to the probability of being in excellent health.Question 12Let X represent the number of visits to a GP over the last 12 months. From past records of patients, the GP has constructed the following probability distribution for X.x 0 1 2 3 5P(X=x) 0.5 0.2 0.1 0.1 0.1 What is the expected number of visits given that a patient has had at least one visit? (Your answer should be correct to one decimal place.)
Hello, I need help with this financial math problem.Note: It details the exercise, the data and the table very well.Apply
Hello, I need help with this financial math problem.Note: It details the exercise, the data and the table very well.Apply the formulas Gradual Amortization and Constant Amortization:Amortization problem:A debt of $ 50,000 must be amortized with 12 monthly payments, with 48% NOMINALmonthly. Calculate the value of each payment and make a debt amortization table.Use both methods.I leave you an example of exercise to guide you:Thanks in advance!!
The above graph demonstrates that an artificial or a forced increase in the minimum wage from its natural market equilibrium
The above graph demonstrates that an artificial or a forced increase in the minimum wage from its natural market equilibrium point will cause an increase in unemployment rates (quantity supply exceeds quantity demand). However, many politicians, labor unions, several activists group mostly support the idea of raising the minimum wage. Your humble instructor does not understand the rationales behind how a government or a third party can fix the price of a product or service in a market economy. If this policy works then why shouldn’t the government raise the wage immediately from $8.25 to $15/ hour? (Please, research outcomes in Seattle) Have you recently been to McDonald’s on the Chicago Ave. and State? Have you noticed those kiosk available to place orders?* Is it a common trend in the fast food industry where machines takes over human workers? Therefore, higher minimum wages may be forcing companies to adopt to alternative means? Does raising minimum wage hurt poor people (cost shifting, e.g. final price of Wonder bread goes up)? Why a wage should or should not be left alone to the market to determine the equilibrium rate?
Suppose the demand model and the cost function facing a firm is expressed as P= 120-5Q and TC= 20 30Q
Suppose the demand model and the cost function facing a firm is expressed as P= 120-5Q and TC= 20 30Q 2Q2 1. Calculate i. the profit maximizing equilibrium level of output that the monopolist will produce ii. the price that the monopolist would chargeiii. and the profit of the monopolist2. Repeat the above calculations if the firm were to be in perfectly competitive market3. Compare the results in 1 and 2 above, and give reasons for this
Wallace Pharmaceuticals is preparing to release its latest hangover relief medicine. The company has spent $12 million on developing the
Economics Assignment Writing ServiceWallace Pharmaceuticals is preparing to release its latest hangover relief medicine. The company has spent $12 million on developing the formula and getting the FDA approval.They have done estimates of the demand for this product in the United States and Canada. For the United States, their marketing research department estimated their demand equation to be QUS = 30 – 2 P, where Q is in million doses sold in a month, and P is in dollars.The research they did for Canada was less thorough but they were able to confidently state that the elasticity of demand for this product in Canada is ECAN = – 2.3 within a fairly broad price range.The marginal cost of making each dose of the medicine is $8. There is no cost difference between the product sold in U.S. and in Canada.a. (7 pts) What is the optimal price (in U.S. dollars) Wallace Pharmaceuticals should charge in each market? Show your work. b. (2.5 pts) Will your answer change if you are reminded that the Canadian market is smaller than the U.S. market? Explain.c. (2.5 pts) What issues does the company need to worry about when it charges different prices in different markets?
12Two pita-bread stores (Pita Pan and Pita Wrapbit) have both recently opened up in a new suburb and are interested
12Two pita-bread stores (Pita Pan and Pita Wrapbit) have both recently opened up in a new suburb and are interested in expanding their market share. Both are considering advertising in the surrounding area to entice more customers to come to their stores. The following table depicts the strategic outcome that results from the game. The profits of the two pita-bread stores under two advertising scenarios are shown. If both stores follow a dominant strategy, Pita Pan’s profits will be:Select one:a. $250b. $2950c. $1450d. $750
An individual has 40,000 in income per year. The person will get sick with probability 0.1. If he does get
An individual has 40,000 in income per year. The person will get sick with probability 0.1. If he does get sick, the medical bills will total 30,000. The following tables shows the utility derived from certain amounts of income:Income Utility40,000 20037,000 19535,000 19030,000 17020,000 14010,000 100At the actuarially fair rate, will the person choose to buy insurance or face the risk of going uninsured? Explain why.
United Airlines and American Airlines compete on the route between Chicago and Kansas City. Every year, they have to decide
United Airlines and American Airlines compete on the route between Chicago and Kansas City. Every year, they have to decide what price to charge for the Christmas season tickets.Tickets go on sale on the same day, therefore both companies have to make their decisions independently and simultaneously.The profits in each possible outcome are given by the following table, the United figure listed first. a. (3 pts) In a one-shot version of the game, does any of the airlines have a dominant strategy? If so, state what those are.b. (2.5 pts) If the two airlines collude, trying to maximize their combined profits, which strategy should each of them play?c. (7.5 pts) Suppose the game is played repeatedly, every year, an infinite number of times. United discounts payoffs in future periods at the 10% rate. American is experiencing some cash flow problems and is much more concerned with the immediate profit. Because of that, the rate of discounting for American is 25% per period. Under these circumstances, if American follows the collusive agreement from part b, then the present value of its profits is If American cheats, the present value of its profits isIf United lives by the collusive agreement, the present value of its profits is If United cheats, the present value of its profits isBased on your findings above, can collusion in the repeated game be sustained?
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