Questions
The probability that a doctor correctly diagnose a particular illness is 0.7. Given that the doctor makes an incorrect diagnosis, the probability that the patient enter a lawsuit is 0.90.


  1. The probability that a doctor correctly diagnose a particular illness is 0.7. Given that the doctor makes an incorrect diagnosis, the probability that the patient enter a lawsuit is 0.90. What is the probability that the doctor makes an incorrect diagnosis and the patients sues?

  2. A town has 2 fire engines operating independently. The probability that a specific engine is available when needed is 0.96.

    1. What is the probability that neither is available when needed?

    2. What is the probability that a fire engine is available when needed?

In: Statistics and Probability

Sew What, the best seamstress shop in town, sponsors a 401(k) plan. All the eligibleemployees and...

  1. Sew What, the best seamstress shop in town, sponsors a 401(k) plan. All the eligibleemployees and their elective deferral percentage are listed below.

Employee

Identification

Deferral Percentage

Lois

HC

6.97%

Frank

HC

8.33%

Karen

NHC

5.00%

Jeanette

NHC

8.00%

Joyce

NHC

2.00%

Ronnie

NHC

5.00%

Kali

NHC

0.00%

Will the company pass the ADP test? If not, what this firm can do to remedy this situation.

In: Finance

Chapter 2, #31 You are driving through town at 12 m/s when suddenly a car backs...

Chapter 2, #31

You are driving through town at 12 m/s when suddenly a car backs out of a driveway in front of you. You apply the brakes and begin decelerating at 3.3 m/s2. How much time does it take to stop? After braking half the time found in part A, is your speed 6.0 m/s, greater than 6.0 m/s, or less than 6.0 m/s?

In: Physics

Collusive outcome versus Nash equilibrium

Consider a remote town in which two restaurants, All-You-Can-Eat Café and GoodGrub Diner, operate in a duopoly. Both restaurants disregard health and safety regulations, but they continue to have customers because they are the only restaurants within 80 miles of town. Both restaurants know that if they clean up, they will attract more customers, but this also means that they will have to pay workers to do the cleaning. 

If neither restaurant cleans, each will earn $14,000; alternatively, if they both hire workers to clean, each will earn only $11,000. However, if one cleans and the other doesn't, more customers will choose the cleaner restaurant; the cleaner restaurant will make $18,000, and the other restaurant will make only $6,000. 

 

Complete the following payoff matrix using the information just given. (Note: All-You-Can-Eat Café and GoodGrub Diner are both profit-maximizing firms.) 

If All-You-Can-Eat Café and GoodGrub Diner decide to collude, the outcome of this game is as followis: All-You-Can-Eat Café _______ and GoodGrub Diner _______ 

 

 If both restaurants decide to cheat and behave noncooperatively, the outcome reflecting the unique Nash equilibrium of this game is as follows: All-You-Can-Eat Café _______ and GoodGrub Diner _______ 

In: Economics

Pedro is a college student who receives a monthly stipend from his parents of $1,000. He...

Pedro is a college student who receives a monthly stipend from his parents of $1,000. He uses this stipend to pay rent for housing and to go to the movies (you can assume that all of Pedro’s other expenses, such as food and clothing have already been paid for). In the town where Pedro goes to college, each square foot of rental housing costs $2 per month. The price of a movie ticket is $10 per ticket. Let xdenote the square feet of housing, and let ydenote the number of movie tickets he purchases per month.

a) What is the expression for Pedro’s budget constraint?

b) Draw a graph of Pedro’s budget line.

c) What is the maximum number of square feet of housing he can purchase given his monthly stipend?

d) What is the maximum number of movie tickets he can purchase given his monthly stipend?

e) Suppose Pedro’s parents increase his stipend by 10 percent. At the same time, suppose that in the college town he lives in, all prices, including housing rental rates and movie ticket prices, increase by 10 percent. What happens to the graph of Pedro’s budget line?

In: Economics

Developmental psychology: Analyze the answers you get for each metaphor in terms of the presence or...

Developmental psychology: Analyze the answers you get for each metaphor in terms of the presence or absence of hypothetical/deductive thinking, differentiation vs. globality, and egocentricity (one perspective explored) vs. multiple perspectives.

Metaphor 1:cat feet

Answer: means the fog moves in stealthily and silently like a cat moves.

Metaphor 2: eyes were candles

Answer: means that you could feel and see that her eyes were the one thing that most expressive and showed that she was alive, present and bright in an otherwise misty serene environment where not much detail could be seen.

Metaphor 3: banged town

Answer: gives the impression that the town's been hit hard by the festivities and weather. ( This one was kind of hard to understand but that's my best guess at what "banged town" might mean. ??

Metaphor 4: possessed all earth and air

Answer: means that for a short time the car took over the environment/space and time so it was only thing you could see, hear and feel before it moved in to background/distance again like a "droning bee" Metaphor 5:frowning arch creates the feeling that the door/entrance is ominous or menacing, dark and uninviting

In: Psychology

What are GASB requirements for bonded debt? Town Oaks’ residents want to start a fund to...

What are GASB requirements for bonded debt?

Town Oaks’ residents want to start a fund to improve their local community. Town Oaks, a gated community, has voted to create a neighborhood park with bonded debt. The bonds will be repaid by the residents and the following transactions are related to park debt:

• The community has a tax burden for the park of $5,000,000, which is imposed on January 1, 20X7.

• Payments start at the beginning of the current year and will be paid in 10 equal annual payments.

• 5% interest is due on the unpaid installments.

• Payments and interest on the unpaid payments was collected by December 31, 20X7.

• A small amount of the assessed receivables was reclassified to current in the amount of 20X8 installments.

• The initial principal payment of $500,000 and the interest on the debt was paid to bondholders on January 1, 20X8.

Required:

• Identify the type of fund the city should impose to account for this special assessed debt.

• Prepare journal entries for the city’s transactions.

• Identify how the city should report the fund in their financial statements?

• Identify how the city should report special assessed debt in their financial statements? •

Compare the treatments of special assessed debt from the United States with at least two other countries. Would the same reporting practices be used and why?

In: Accounting

Assume that we want to construct a confidence interval. Do one of the​ following, as​ appropriate:...

Assume that we want to construct a confidence interval. Do one of the​ following, as​ appropriate: (a) find the critical value t Subscript alpha divided by tα/2​, ​(b) find the critical value z Subscript alpha divided by zα/2​, or​ (c) state that neither the normal distribution nor the t distribution applies. Here are summary statistics for randomly selected weights of newborn​ girls: n= 177, overbarx= 32.7 ​hg, s = 6.2 hg. The confidence level is 99​%.

Select the correct choice below​ and, if​ necessary, fill in the answer box to complete your choice.

A) ta/2 = _

B) Za/2 = _

C) Neither the normal distribution nor the t distribution applies.

In: Statistics and Probability

Catarina recently downloaded Snapchat. She is a mom to two daughters, who are 11 and 13....

Catarina recently downloaded Snapchat. She is a mom to two daughters, who are 11 and 13. The girls recently began using Snapchat and love playing with the filters to take selfies, and they encouraged their mom to get Snapchat too so they can share fun photos with each other. Catarina feels like she is the last one in her friend group to use Snapchat, as most of her friends have been using it for several years. Catarina has very few apps on her smartphone, because she is skeptical of companies and concerned about privacy issues. Which category of adoption best describes Catarina?

a. Early majority
b. Innovator
c. Late majority
d. Laggard

In: Economics

Jennifer started a restaurant in Chicago. She rented a building, bought equipment, and hired two employees...

Jennifer started a restaurant in Chicago. She rented a building, bought equipment, and hired two employees to work full time at a fixed monthly salary. Jennifer’s utilities and other operating charges remain constant during each month. During the past two years, her business "Jenny Girl" has grown with average sales increasing 1% a month. Jenny is happy, however, she does not understand why her sales can grow by one percent a month while her profits are increasing at an even faster pace. Jennifer is afraid that she will have increased sales but decreased profits. Why is Jenny Girls profits increased at a faster rate than sales? Explain

In: Accounting