The following table shows the number of students at a college who were offered teaching positionsbefore graduation. Determine the probability of each event assuming that one of the studentsrepresented in the table is randomly selected.Offer No OfferFemale5232Male7527Enter answers in fraction form.a. Student is a male who received a teaching position offer.The probability isb. Student is a female, and she did not receive a teaching position offer.The probability isc. Student received a teaching position offer or is a female.The probability is

Given: The formula to compute the probability is: Probability=Number of favorable outcomesTotal…

Answered: The following table shows the number of…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A master student interested in pursuing a PhD is deciding between two courses: advanced game theory x = A and introduction to game theory x = I. The student can be one of two types: 0 = L or 0 = H. The PhD admission officer can observe the courses chosen by the student x = {A, I} but not the type of the student 0. Before observing the course chosen by the student, she believes both types are equally likely. She admits students only if she is sure that they are type 0 = H (that is if she believes P(0 = H|x) = 1). The student gets 10 units of utility from being admitted to a PhD and 0 units if not admitted, and pays costs c(0) if she chooses advanced game theory and costs 0 if she chooses introduction to game theory. We assume that c(H) = 0 < c(L) = 15. 1) What is a separating equilibrium? What does it mean in the game above? 2) What is a pooling equilibrium? What does it mean in the game above?
A local university has a student population that is 57% male. 64% of the students are undergraduates; 40% are both male and undergraduates. What is the probability that a randomly selected student is either male or an undergraduate?
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Exercise 1.4. There are two players. Each player is given an unmarked envelope and asked to put in it either nothing or $300 of his own money or $600. A referee collects the envelopes, opens them, gathers all the money, then adds 50% of that amount (using his own money) and divides the total into two equal parts which he then distributes to the players. (a) Represent this game frame with two alternative tables: the first table showing in each cell the amount of money distributed to Player 1 and the amount of money distributed to Player 2, the second table showing the change in wealth of each player (money received minus contribution). (b) Suppose that Player 1 has some animosity towards the referee and ranks the outcomes in terms of how much money the referee loses (the more, the better), while Player 2 is selfish and greedy and ranks the outcomes in terms of her own net gain. Represent the corresponding game using a table. (c) Is there a strict dominant-strategy equilibrium?
A television station would like to hold a two-day marathon of a police procedural show. They post a survey and ask viewers to rank their favorite shows. The results are compiled in the preference schedule below. Number of Votes 47 40 25 47 80 1st Choice NCIS NCIS CSI CSI Criminal Minds 2nd Choice CSI Criminal Minds NCIS Criminal Minds CSI 3rd Choice Criminal Minds CSI Criminal Minds NCIS NCIS The television station decides to select the winner by using the Copeland Method. What show will the station highlight in the two-day marathon? Make sure to include an explanation along with your answer.
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A researcher believes that 8% of pet dogs in Europe are Labradors. If the researcher is right, what is the probability that the proportion of Labradors in a sample of 630 pet dogs would be greater than 7%? Round your answer to four decimal places.
When a new machine is functioning properly, only 6% of the items produced are defective. Assume that we will randomly select two parts produced on the machine and that we are interested in the number of defective parts found. (a) Describe the conditions under which this situation would be a binomial experiment. (Select all that apply.) For each part selected, the probability of a defective part being produced must be 0.06. The parts must be selected independently. The selection of a part is dependent on the first part selected. The number of successes and failures in this experiment are equal. The probability of choosing a part that is defective must be 0.94. (b) Draw a tree diagram similar to this section's example showing this problem as a two-trial experiment. Tree Diagram Description ---Select--- ---Select--- ---Select--- ---Select--- Not Defective Defective ---Select--- Not Defective ---Select--- ---Select--- O O O 0 O

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