To demonstrate: The reason of X should not be approximated by the binomial distribution.

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Answer 1

Question

Chapter 4.4, Problem 4.69ACB

a.

To determine

To demonstrate: The reason of X should not be approximated by the binomial distribution.

b.

To determine

To show: The properties of the hypergeometric probability distribution are satisfied for this experiment.

c.

To determine

To find: The values of μ and σ for the probability distribution of X.

d.

To determine

To calculate: The probability that x=2 .

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Consider the simple discrete job search model that we studied in class. Only the unemployed can receive one offer per period from F(w) that is a uniform distribution on [0,2]. There is a constant probability of being laid off at the end of each period while employed. Assume that she can get a new offer right away when laid off. We want to understand the reservation wage, WR, in this model. Assume that u(c) = c. The parameters are a discount factor ẞ and an unemployment benefit b.R and show that T is contraction on [0, ∞). Explicitly state any additional assumptions that you may need.(Grading guide line: 5pt for the exact form of T, 10pt for showing contraction, and 5pt for stating correct assumptions.)< (b) Discuss why (a) is useful to understand the reservation wage wд in this economy.< (c) We write WR = WR (b,ẞ,λ) to reveal its dependence on (b,ẞ,λ). Show that 0 ≤ aWR дь OWR дл ≤1 and ≥0. What about ? awR ав State any additional assumptions that you may need.< (d) Briefly explain the…

Answer 2

Question

Chapter 4.4, Problem 4.69ACB

a.

To determine

To demonstrate: The reason of X should not be approximated by the binomial distribution.

b.

To determine

To show: The properties of the hypergeometric probability distribution are satisfied for this experiment.

c.

To determine

To find: The values of μ and σ for the probability distribution of X.

d.

To determine

To calculate: The probability that x=2 .

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Answer 3

Question

Chapter 4.4, Problem 4.69ACB

a.

To determine

To demonstrate: The reason of X should not be approximated by the binomial distribution.

b.

To determine

To show: The properties of the hypergeometric probability distribution are satisfied for this experiment.

c.

To determine

To find: The values of μ and σ for the probability distribution of X.

d.

To determine

To calculate: The probability that x=2 .

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 4

Question

Chapter 4.4, Problem 4.69ACB

a.

To determine

To demonstrate: The reason of X should not be approximated by the binomial distribution.

b.

To determine

To show: The properties of the hypergeometric probability distribution are satisfied for this experiment.

c.

To determine

To find: The values of μ and σ for the probability distribution of X.

d.

To determine

To calculate: The probability that x=2 .

Expert Solution & Answer

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Answer 5

Chapter 4.4, Problem 4.69ACB

a.

To determine

To demonstrate: The reason of X should not be approximated by the binomial distribution.

b.

To determine

To show: The properties of the hypergeometric probability distribution are satisfied for this experiment.

c.

To determine

To find: The values of μ and σ for the probability distribution of X.

d.

To determine

To calculate: The probability that x=2 .

Answer 6

Chapter 4.4, Problem 4.69ACB

a.

To determine

To demonstrate: The reason of X should not be approximated by the binomial distribution.

Answer 7

Chapter 4.4, Problem 4.69ACB

a.

To determine

To demonstrate: The reason of X should not be approximated by the binomial distribution.

Answer 8

b.

To determine

To show: The properties of the hypergeometric probability distribution are satisfied for this experiment.

Answer 9

b.

To determine

To show: The properties of the hypergeometric probability distribution are satisfied for this experiment.

Answer 10

c.

To determine

To find: The values of μ and σ for the probability distribution of X.

Answer 11

c.

To determine

To find: The values of μ and σ for the probability distribution of X.

Answer 12

d.

To determine

To calculate: The probability that x=2 .

Answer 13

d.

To determine

To calculate: The probability that x=2 .

Answer 14

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Answer 15

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Answer 16

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Answer 17

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To demonstrate: The reason of X should not be approximated by the binomial distribution.

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To demonstrate: The reason of X should not be approximated by the binomial distribution.

To show: The properties of the hypergeometric probability distribution are satisfied for this experiment.

To find: The values of μ and σ for the probability distribution of X.

To calculate: The probability that x=2 .

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