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Find the PMF of the random variable Y = X mod(3). Find the PMF of the random variable Y = 5 mod(X + 1).
Each natural child has equal probability of being a girl or a boy, independent of the other children. Find the PMF of the number of girls out of the 7 children.
How can we generalize to the case where the probabilities of a left and a right pocket selection are p and 1- p, respectively?
Find the PMF of the number of trials you will need to open the door, under the following alternative assumptions: (1) after an unsuccessful trial.
Find the values of p for which n = 5 is better for the Celtics than n = 3. Find the values for p for which n = 2k + 1 is better for the Celtics than n = 2k - 1.
Under which of the following market conditions is it most difficult to maintain a cartel agreement?
In the past few years, the demand for donuts has greatly increased. This increase in demand might best be explained by:
Do you believe consumers do behave rationally? Is so, how do you explain impulse buying, buying as a result of advertising.
A gambler makes a sequence of independent bets. In each bet, he wins $1 with probability p. What is the probability that the gambler will end up with $n?
Given the probability of bad weather on a given day, obtain an expression for the probability that the professor will teach her class on that day.
To keep the game relatively simple, assume the life insurance being considered is term life, i.e. insurance without an accumulating investment value.
The cellular system has a total capacity of c bits/sec. What is the probability that more users want to use the system than the system can accommodate?
The part, called WISCO, is a component of the company's finished product.
Discuss the importance of efficiency and effectiveness as key managerial interests, and analyze the primary conditions for each.
Suppose that any one plant can produce enough electricity to supply the entire city. What is the probability that the city will experience a black-out?
What is meant by the term "utility" and how does it relate to purposeful behavior?
Taxes are often used as a means of distributing income. What kind of tax system would you favor (regressive, flat, progressive)? Why?
The system is operational if at least K out of the n components are operational. What is the probability that the system is operational?
How can they use the biased coin to make a decision so that option (opera or the movies is equally likely to be chosen?
At what level of initial wealth will he be indifferent between taking on the risk of getting no income and buying the insurance that removes the risk?
What is the probability that the sibling is male? Assume that every birth results in a boy with probability 1/2, independent of other births.
Question: Portfolio selection using the utility function u(w)=-exp(-bw).
Assuming independent coin tosses, show that the probability that after all coins have been tossed, Bob will have gotten more heads than Alice is 1/2.
From the expenditure function derive the Hicksian demand functions, h1(p,u) and h2(p,u). Do Hicksian demand functions satisfy relevant homogeneity conditions?
The release of two out of three prisoners has been announced. but their identity is kept secret. What is wrong with this line of reasoning?