What is the chance they both will fail
A safety device and its independet back up each have 3% failure rate. What is the chance they both will fail?
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The probability of getting a certain disease is 0.2. A certain test is available which returns positive result 90% of the time for those with the disease,
John is considering starting a t-shirt company. To do so would require the purchase of a machine to imprint the t-shirts. A corporate "friend" has promised John a one-year contract for 20,000 shorts, if his price is "right".
A study of US clinical population found that 23.4% are diagnosed with a mental disorder, 12.2% are diagnosed with an alcohol-related disorder, and 5% are diagnosed with both disorders.
Would total consumer expenditure on cigarettes rise or fall in the short run if the government were to impose a tax that raised the price of cigarettes by 5 percent What about in the long run?
How much must it pay for each hour it uses its capital if the George Firm is minimizing costs, its RTS is 1.5, and it pays its workers $30 per hour?
If "correlation does not imply causation," what does it imply? Are there ever any circumstances when a correlation can be interpreted as evidence for a causal connection between two variables? If yes, what circumstances?
Consider what might happen to demand and supply if a significant number of retailers decided to implement the price-match guarantee.
A magnetic disk drive manufacturer produces precision bearings with the diameter which follows normal distribution having mean value of 0.2508 inches and standard deviation of 0.0008 inches.
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Jane is doing a study about tattoos. She is interested in studying the idea of the "tramp stamp" (a tattoo in the small of a woman's back).
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How is it rational for the owner of a factory or plantation to work his laborers to death or disability when they can easily be replaced cheaply?