Fred, Susan, Edward and John are all 4 qualifiers for a charity raffle with two $200...

Fred, Susan, Edward and John are all 4 qualifiers for a charity raffle with two $200 prizes. One of their names will be drawn for the first prize the replaced at which point the second prize winner will be drawn. Draw a tree diagram to determine the sample space and find the probability that:A. One person wins both prizes, B. There are two different winners C. Susan wins at least one prize D. Fred wins both prizes E. The two winners are John and Edward

Expert Solution

orchestra answered 2 years ago

Frank, Sofia, Eldridge, and Jake are the four qualifiers for a charity raffle with two $500...

Frank, Sofia, Eldridge, and Jake are the four qualifiers for a charity raffle with two $500 prizes. One of their names will be drawn for the first prize then replaced, at which point the second prize winner will be drawn. Draw a tree diagram to determine the sample space and find the probability that (a) One person wins both prizes. (b) There are two different winners. (c) Sofia wins at least one prize. (d) Frank wins both prizes. (e) The...

Jane’s current income is $200, the price of food is $4 and the price of all...

Jane’s current income is $200, the price of food is $4 and the price of all other goods is $1. The government gives Jane $100 in food stamps. Draw her budget line. Draw a set of indifference curves that show that Jane would not care whether she receives $100 in cash or $100 in food stamps. Now a black market developes where Jane can trade $1 of food stamps for $.50 in cash. Draw Jane’s new budget line. Will she...

John spends all his income of 10000 dollars on two commodities: cheese and wine. The price...

John spends all his income of 10000 dollars on two commodities: cheese and wine. The price of cheese is 15 dollars (per kilogram) and the price of wine is 8 dollars (per liter). a) Describe John's budget set. b) In a two-dimensional coordinate system in which wine is measured in the vertical axis and cheese on the horizontal axis, draw the budget line of this consumer and show his budget set. c) Find the points where the budget line hits...

Exercise Two - 4 Subject: Individual Instalments John Lee, a resident of Newfoundland, had net tax...

Exercise Two - 4 Subject: Individual Instalments John Lee, a resident of Newfoundland, had net tax owing for 2018 of $3,500, net tax owing for 2019 of $1,500, and expects to have net tax owing for 2020 of $4,500. Is he required to make instalment payments for 2020? If so, what would be the minimum quarterly payment and when would each instalment be due? Exercise Two - 5 Subject: Individual Instalments At the beginning of 2020, the following information relates...

John Company of Akron, Ohio has two manufacturing departments—Machining and Assembly. The company considers all of...

John Company of Akron, Ohio has two manufacturing departments—Machining and Assembly. The company considers all of its manufacturing overhead costs to be fixed costs. It provided the following estimates at the beginning of the year as well as the following information with respect to Jobs A and B: Estimated Data Machining Assembly Total Manufacturing overhead $500,000 $100,000 $600,000 Direct labor-hours 10,000 50,000 60,000 Machine-hours 50,000 5,000 55,000 Job A Machining Assembly Total Direct labor-hours 5 10 15 Machine-hours 11 2...

Answer all 4 of the questions/topics: Each response must be at least 200-300 words. Communication Describe...

Answer all 4 of the questions/topics: Each response must be at least 200-300 words. Communication Describe and explain the importance of a good integrated information & communication system. What is the importance of communication between departments and what negative impact can a poor system of communication have for a hotel? Discuss 2 important forms of integrated PMS/Communication systems or examples of data information. Future of Hotels Imagine the hotel room of the future (10 years from now). What does the...

Jane spends all of her $200 weekly income on two goods, X and Y. Her utility...

Jane spends all of her $200 weekly income on two goods, X and Y. Her utility function is given by U(X,Y) = 2XY, If the price of X = $4/ unit and the price of Y = $10 a unit, how much of Y should she buy?

4. Discuss ALL of the energy transfers that occur for the two basic types of membrane...

4. Discuss ALL of the energy transfers that occur for the two basic types of membrane transport—passive and active—and how the two are related to each other. Be very specific. 2. Compare and contrast the different types of membrane proteins that you could find in a lipid bilayer, including a description of the physical properties of the proteins that allow them to be maintained in their membrane position.

Question 4: Suppose we can divide all the goods produced by an economy into two types...

Question 4: Suppose we can divide all the goods produced by an economy into two types : consumption goods and consumer goods. Capital goods such as machinery, equipment, and computers, are goods used to produce other goods. Use a production possibilities frontier graph to illustrate the trade-off an economy between producing consumption goods and producing capital goods. Is it likely that the production possibilities frontier in this situation would be a straight line or a bowed out? Briefly explain. Suppose...

A monopolist faces two totally separated markets with inverse demand p=200−2?1 and p=320−4?2 respectively. The monopolist...

A monopolist faces two totally separated markets with inverse demand p=200−2?1 and p=320−4?2 respectively. The monopolist cost is C=?2. Note that q=?1+?2. (a)Find the profit maximizing total output and how much of it that is sold on market 1 and market 2 respectively if the monopoly uses third degree price discrimination. What prices will the monopolist charge in the two separate markets?(b)Calculate the price elasticity of demand in each market and explain the intuition behind the relationship between the prices...

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