Why might a college athlete invest heavily in training to become a pro basketball player given...

Why might a college athlete invest heavily in training to become a pro basketball player given that the chances of succeeding are less than 2%? Does this mean that investing in human capital in the form of practicing jump shots is necessarily a bad investment?

Expert Solution

Rahul Sunny answered 2 years ago

1. A pro basketball player is a poor free-throw shooter. Consider situations in which he shoots...

1. A pro basketball player is a poor free-throw shooter. Consider situations in which he shoots a pair of free throws. The probability that he makes the first free throw is 0.51. Given that he makes the first, suppose the probability that he makes the second is 0.64. Given that he misses the first, suppose the probability that he makes the second one is 0.36. What is the Probability he makes both free throws? 2. The most likely scenario for...

A. You are training a 20-year-old male who is a college football player with no previous...

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Companies often invest in training their employees to raise their productivity. Economists sometimes wonder why companies...

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