1. It's often said that "you should only invest as much money as you can afford to lose." Do you agree with this statement? Why or why not? 2. Risk Aversion is a measure of how much a person dislikes taking risks, especially with investment. If you were on a game show and the host offered you a choice between taking $1000 and leaving, or risking everything to try to win $5000, what would you choose? How would you decide?

1. It's often said that "you should only invest as much money as you can afford to lose." Do you agree with this statement? Why or why not? 2. Risk Aversion is a measure of how much a person dislikes taking risks, especially with investment. If you were on a game show and the host offered you a choice between taking $1000 and leaving, or risking everything to try to win $5000, what would you choose? How would you decide?

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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A national chain of department stores ranks its 750,000 salespeople by the monetary value of their sales. Rafael's sales are at the 94 percentile. Maya's sales are at the 82nd percentile. (a) Which of the following must be true about Rafael's and Maya's sales? Maya's sales were higher in value than Rafael's sales. O Both Rafael and Maya had sales higher In value than the median. O The value of Rafael's sales were $1200 more than Maya's. O The values of both Rafael's and Maya's sales were in the bottom half of all of the salespeople. (b) Which of the following must be true about Rafael's sales? O Rafael had sales lower in value than about 94% of the salespeople. O The value of Rafael's sales were about 94% of the chain's total. O Rafael had sales higher in value than about 94% of the salespeople. O The value of Rafael's sales were about 6% of the chain's total. Explanation Check C Ō hp O X 5 Ⓒ2022 McGraw Hill LLC. All Rights Reserved. Terms of Use | Privacy Center Access ✔
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A national chain of department stores ranks its 900,000 salespeople by the monetary value of their sales. Lashonda's sales are at the 13th percentile. Dan's st sales are at the 21 percentile. (If necessary, consult a list of formulas.) (a) Which of the following must be true about Lashonda's and Dan's sales? O The value of Dan's sales were $800 more than Lashonda's. O The value of Lashonda's sales were $800 more than Dan's. O Both Lashonda and Dan had sales higher in value than the median. O Both Lashonda and Dan had sales lower in value than the median. (b) Which of the following must be true about Lashonda's sales? O The value of Lashonda's sales were about 13 % of the chain's total. O The value of Lashonda's sales was in the top half of all of the salespeople. O Lashonda sold $1300 in merchandise. O Lashonda had sales lower in value than about 87% of the salespeople.
Ford Car Sales Assume you are working as a statistician for the automotive company Ford. Ford's three most popular cars are the Escape (SUV), the Focus (midsize sedan), and the Fusion (hybrid sedan). Your boss is putting together next year's production numbers and asks you to determine if any of the three models are selling better or worse than the other two. You have the sales numbers from one month of sales: the Escape sold 22,274, the Focus sold 21,385, and the Fusion sold 20,808. Perform the necessary test to determine if sales are significantly different and report the conclusion(s) of interest to your boss. 1Sales from The Wall Street Journal for June 2011. Calculate the chi-square test statistic and the p-value. Round your answer for the chi-square statistic to the nearest integer, and your answer for the p-value to three decimal places. i p-value - i
Grab Bags A convenience store has made up 20 grab bag gifts and is offering them for $2.00 a bag. Ten bags contain merchandise worth $1.00. Six bags contain merchandise worth $2.00, and four bags contain merchandise worth $3.00. Suppose you purchase one bag. What is your expected gain or loss?
SportBet lists the odds against the Lakers winning their next game as 5:2. Joe bets $10 with SportBet that the Lakers will lose their next game. If the Lakers lose, how much money will Joe get (apart from receiving his $10 bet back)? (Answer: $4) BetsRUs lists the odds in favor of Ben and Jerry's going out of business as 5:3. Ever the gambler, Joe bets $10 with BetsRUs that Ben and Jerry's will go out of business. If Ben and Jerry's goes out of business, how much money will Joe get (apart from receiving his $10 bet back)? (Answer: $6) anc and
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The election is coming up in three weeks, and you’d like one last poll to see where things stand. Last month’s poll showed your candidate had 55% support, and you want to know what percent of the voters would vote for your candidate if the election were held today. You want 95% confidence in your answer, with a margin of error no more than 3%. Determine how many voters you need to survey.
You may want to create a table to help you with this problem. Consider a computer test to indicate if you like Math 123 or dislike Math 123. If positive, you like the class and if negative you dislike the class. In a sample of 25 thousand people, 80% of the population indicated they liked the class. If the test is 85.5% accurate, what are the chances that the test showed the person disliked Math 123, but in reality they actually liked the course? Round your percentage to 2 decimals.
(4) You are a contestant on a television game show and you have won $5000 so far. You are now offered a choice: either you can keep the money and leave or you can continue into the next round. where you have a 70% chance of increasing your winnings to $10000 and a 30% chance of losing the $5000 and finishing the game with nothing. (a) Which option would you choose? (b) How does your choice compare with that which would be prescribed by the expected monetary value criterion? b) As the decision tree below shows, according to the EMV criterion you should continue to the next round because your expected winnings, at $7000, are higher than your current winnings of $5000. Winnings (3) 5000 Keep the money Continue to ned 70001 0.7 Increase winnings Lose 0.3 10 000 0
A recent public survey asked the following question. "Many people believe this playground is too small and in need of repair. Do you think the playground should be repaired and expanded even if that means raising the entrance fee to the park?" Describe two ways this question may lead to response bias. *** 00000 Select all that apply. A. The question mentions higher fees, which could make people reject improvements to the playground. B. The statement points out problems the respondent may not have noticed, and might lead them to feel they should agree. C. Not all people who visit the park may answer the question. D. Some people prefer smaller playgrounds. E. The survey is not limited to those who use the park. OF. The "many people" who believe this playground is too small and in need of repair are unlikely to take this survey because they already voiced their opinion.
Think about the headline “Twelve people every year in the U.S. are killed by bee stings.” Assuming there are approximately 313.9 million people in the United States, what other ways could this headline be written? There may be more than one answer. The chances of being killed by bees in the U.S. are 12%. Bees claim one life every month in the United States alone. Someone you know may be stung by a bee. One in 26 million will die this year in the U.S. by bee sting