1. Queen Elizabeth has decided to auction off the crown jewels. There are two bidders: the Sultan and the Sheikh. Each will simultaneously submit a bid in a sealed envelope; the highest bidder will win, and pay what he bid. (This is a “First Price Auction”.) The Sultan is only allowed to bid an odd number: 1, 3, 5, 7, or 9. The Sheikh is only allowed to bid an even number: 2, 4, 6, 8, or 10. The Sultan places a value of 8 on the crown jewels, while the Sheikh values them at 7.Now suppose the game is a Second Price Auction instead, so the highest bidder still wins, but he pays the amount of the losing player’s bid. The players’ valuations of the jewels remain the same.

Find all Nash Equilibria of this game.

A professor tests whether the loudness of noise during an exam (low, medium, and high) is independent of grades (pass, fail). The following table shows the observed frequencies for this test.

(a) Conduct a chi-square test for independence at a 0.05 level of significance. (Round your answer to two decimal places.)
=  

Decide whether to retain or reject the null hypothesis.

Retain the null hypothesis.Reject the null hypothesis.     

(b) Compute effect size using Cramer's V. (Round your answer to two decimal places.)
V =

Problem 24-1: Compute gross pay.

Using the information given for Archway Company, compute the employees' gross pay for the payroll week ending July 14 and the year-to-date gross pay as of July 14. Employees receive time-and-a-half for overtime hours (fill in the shaded areas).

Consider a market with 6 firms, two of which have 25% market share each and four have 12.5% market share each.   

a. What is the category of market concentration for this market based on the Dept. of Justice HHI guidelines? Show the necessary calculations. (2)

b. If the two firms with 25% market share each merge to form one firm with 50% market share (and the other four firms maintain their 12.5% market share each), how will concentration in the doodad market, as measured by HHI, change? Would this merger cause the DOJ question the merger and review it carefully? Show the necessary calculations (4)

Consider a locus with two alleles - B and b. B is dominant, while b is recessive. There is no mutation. B has a selective advantage relative to b, so that the fitnesses of the three genotypes are BB = 1, Bb = 1, and bb = 1-s. In this case, s = 0.50, so that bb homozygotes have 50% fitness of heterozygotes and BB homozygotes. If the population has the following genotypic counts prior to selection of BB = 500, Bb = 250, and bb = 250, what is the frequency of B after one generation with selection? Please give your answer to two decimal places.

Note: the answer is not .39 or .625

Market Equilibrium Worksheet

1. The following table shows the supply and demand schedules in a market for sandals.

1. What is the equilibrium price in the sandals market?

2. What is the equilibrium quantity in the sandals market?

3. At a price of $2, will there be a surplus or shortage of sandals in this market?

4. At a price of $8, how large of a surplus will there be in this market?

If the supply curve shifts to the right, will the price in this market rise or fall?

I.W., aged 62, is a male who is new to your practice. He is reporting shortness of breath on exertion, especially after climbing steps or walking three to four blocks. His symptoms clear with rest. He also has difficulty sleeping at night (he tells you he needs two pillows to be comfortable). He tells you that 2 years ago, he suddenly became short of breath after hurrying for an airplane. He was admitted to a hospital and treated for acute pulmonary edema. Three days before the episode of pulmonary edema, he had an upper respiratory tract infection with fever and mild cough. After the episode of pulmonary edema, his blood pressure has been consistently elevated. His previous physician started him on a sustained-release preparation of diltiazem 180 mg/d. His medical history includes moderate prostatic hypertrophy for 5 years, adult-onset diabetes mellitus for 10 years, hypertension for 10 years, and degenerative joint disease for 5 years. His medication history includes hydrochlorothiazide (HydroDIURIL) 50 mg/d, atenolol (Tenormin) 100 mg/d, controlled-delivery diltiazem 180 mg/d, glyburide (DiaBeta) 5 mg/d, and indomethacin (Indocin) 25 to 50 mg three times a day as needed for pain. While reviewing his medical records, you see that his last physical examination revealed a blood pressure of 160/95 mm Hg, a pulse of 95 bpm, a respiratory rate of 18, normal peripheral pulses, mild edema bilaterally in his feet, a prominent S3 and S4, neck vein distention, and an enlarged liver.

Diagnosis: Heart Failure Class II

Answer the following questions. Include two references, cited in APA style.

List specific goals of treatment for I.W.

What drug(s) would you prescribe? Why?

What are the parameters for monitoring the success of your selected therapy?

Discuss specific patient education based on the prescribed therapy.

Describe one or two drug–drug or drug–food interactions for the selected agent(s).

List one or two adverse reactions for the selected agent(s) that would cause you to change therapy.

What would be the choice for the second-line therapy?

What over-the-counter or alternative medications would be appropriate for this patient?

What dietary and lifestyle changes should be recommended for I.W.?

I.W., aged 62, is a male who is new to your practice. He is reporting shortness of breath on exertion, especially after climbing steps or walking three to four blocks. His symptoms clear with rest. He also has difficulty sleeping at night (he tells you he needs two pillows to be comfortable). He tells you that 2 years ago, he suddenly became short of breath after hurrying for an airplane. He was admitted to a hospital and treated for acute pulmonary edema. Three days before the episode of pulmonary edema, he had an upper respiratory tract infection with fever and mild cough. After the episode of pulmonary edema, his blood pressure has been consistently elevated. His previous physician started him on a sustained-release preparation of diltiazem 180 mg/d. His medical history includes moderate prostatic hypertrophy for 5 years, adult-onset diabetes mellitus for 10 years, hypertension for 10 years, and degenerative joint disease for 5 years. His medication history includes hydrochlorothiazide (HydroDIURIL) 50 mg/d, atenolol (Tenormin) 100 mg/d, controlled-delivery diltiazem 180 mg/d, glyburide (DiaBeta) 5 mg/d, and indomethacin (Indocin) 25 to 50 mg three times a day as needed for pain. While reviewing his medical records, you see that his last physical examination revealed a blood pressure of 160/95 mm Hg, a pulse of 95 bpm, a respiratory rate of 18, normal peripheral pulses, mild edema bilaterally in his feet, a prominent S3 and S4, neck vein distention, and an enlarged liver.

Diagnosis: Heart Failure Class II

Answer the following questions. Include two references, cited in APA style.

List specific goals of treatment for I.W. What drug(s) would you prescribe? Why?

What are the parameters for monitoring the success of your selected therapy?

Discuss specific patient education based on the prescribed therapy. Describe one or two drug–drug or drug–food interactions for the selected agent(s).

List one or two adverse reactions for the selected agent(s) that would cause you to change therapy.

What would be the choice for the second-line therapy?

What over-the-counter or alternative medications would be appropriate for this patient?

What dietary and lifestyle changes should be recommended for I.W.?

I.W., aged 62, is a male who is new to your practice. He is reporting shortness of breath on exertion, especially after climbing steps or walking three to four blocks. His symptoms clear with rest. He also has difficulty sleeping at night (he tells you he needs two pillows to be comfortable). He tells you that 2 years ago, he suddenly became short of breath after hurrying for an airplane. He was admitted to a hospital and treated for acute pulmonary edema. Three days before the episode of pulmonary edema, he had an upper respiratory tract infection with fever and mild cough. After the episode of pulmonary edema, his blood pressure has been consistently elevated. His previous physician started him on a sustained-release preparation of diltiazem 180 mg/d. His medical history includes moderate prostatic hypertrophy for 5 years, adult-onset diabetes mellitus for 10 years, hypertension for 10 years, and degenerative joint disease for 5 years. His medication history includes hydrochlorothiazide (HydroDIURIL) 50 mg/d, atenolol (Tenormin) 100 mg/d, controlled-delivery diltiazem 180 mg/d, glyburide (DiaBeta) 5 mg/d, and indomethacin (Indocin) 25 to 50 mg three times a day as needed for pain. While reviewing his medical records, you see that his last physical examination revealed a blood pressure of 160/95 mm Hg, a pulse of 95 bpm, a respiratory rate of 18, normal peripheral pulses, mild edema bilaterally in his feet, a prominent S3 and S4, neck vein distention, and an enlarged liver.

Diagnosis: Heart Failure Class II

Answer the following questions. Include two references, cited in APA style.

List specific goals of treatment for I.W. What drug(s) would you prescribe? Why?

What are the parameters for monitoring the success of your selected therapy?

Discuss specific patient education based on the prescribed therapy.

Describe one or two drug–drug or drug–food interactions for the selected agent(s).

List one or two adverse reactions for the selected agent(s) that would cause you to change therapy.

What would be the choice for the second-line therapy?

What over-the-counter or alternative medications would be appropriate for this patient?

What dietary and lifestyle changes should be recommended for I.W.?

What strategies for mourning would you suggest to a friend or someone who has lost a loved one?