Bundle: Principles Of Economics, Loose-leaf Version, 8th + Lms Integrated Mindtap Economics, 1 Term (6 Months) Printed Access Card
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Chapter 22, Problem 6PA

Subpart (a):

To determine

Application of Borda count and Arrow’s impossibility theorem.

Subpart (b):

To determine

Application of Borda count and Arrow’s impossibility theorem.

Subpart (c):

To determine

Application of Borda count and Arrow’s impossibility theorem.

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An actuary analyzes a company’s annual personal auto claims, M and annual commercialauto claims, N . The analysis reveals that V ar(M ) = 1600, V ar(N ) = 900, and thecorrelation between M and N is ρ = 0.64. Compute V ar(M + N ).
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