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- Fare F ($/trip) and travel time T (hr/trip) for Bus and Rails are given Bus: F= 40, T = 3 Rail: F = 56, T=2.5 We have a utility function u = -0.005 F -0.1 t * Use the logit model to find the probability of choosing bus * What change in rain rare would achieve the probability of choosing rail to be 55%? * What value use time is implied by the utility function? Start to think about the utility of one-hour a. it will be #% b. #$ c. $20$/hrIsabella understands that if she were to play golf, she would be able to spend time outdoors (where she likes to be) with people she enjoys. However, because she has taken golf lessons 10+ times and still cannot hit the golf ball, she does not believe that she can actually play golf. Based on what you know about Expectancy Theory, will she join her friends to play golf this summer? Group of answer choices Yes. Instrumentality and Valence are high. No. Valence is too high. No. Expectancy is low. Yes. Instrumentality is high.I. EOQ Model Suppose during your college life, every year you need $5,000 cash to spend in addition to the studying expenses. Each time in need of cash, you decide to go to the bank for that. And the transportation costsyou $5 (assumed amount) of going to the bank and coming back. Assume that the current saving/checking link account has an interest rate of 5%. Please find the optimal solution of the amount of cash each time for the withdraw.
- With the help of a diagram explain the main principles of the first-order Markov Model.In your answer explain any notation that you use. Explain what is meant by the term‘’first-order”.An individual’s utility function is given as U (X) = X 0.5 where X represents the money, he has available for spending in a given time period. This individual has income of $225 in each time period and he discounts the future at the rate of 0.7. If he invests his up-front cost is 25 and his return in in the next time period is 35. a. Would this individual consider investing if his investment is financed by borrowing and cost of borrowing is 30%? (Consider two period model to justify your answer) b. Would this individual consider investing if his investment is financed by current savings? (Use two period model to justify your answer). c. Would this individual consider investing if his investment is financed by: $10 from current savings and rest of it from borrowing and the cost of borrowing is 30%? (Use two period model to justify your answer).Decide the best choice. a. The inndividual waiting times experienced by customers in a busy breakfast cafe would be an example of a deterministic process because several customers are waiting to be seated. b. Informmation Systems and Informmation Technology are identical and synonyms that mean the exact same thing. c. In 2019, both manuffacturing and service sectors employed roughly the same percentage of the labor force in USA. d. Today, services constitute a large percentage (e.g., more than 60%) of the U.S. economy. e. Both choices ‘a’ and ‘b’ are correct.
- In DD model, suppose r=0.3 and R=4. A bank collects all 100 potatoes from individual HHs and make storage/investment decision collectively. Optimally, the bank should storage ____ potatoes and invest the rest.What is good and bad uncertainty in economics? Please include math2. “A risk-averse individual will always full insure, meaning that uncertainty is irrelevant.” Discuss this comment using relevant model(s) studied in the unit.
- Explain the difference(s) between an economic and an econometric model . Write down examples for each model by using the variables that is decided for your project .Q 2.A write a short note about the following variables and support your answers by giving examples for each variable: 1.TFC: 2.TC:Which is not a phenomenon studied under econometrics? (a). Consumption pattern.(b). Consumer behavior.(c). Production and cost.(d). Supply.What is BLUE..? (a). Best Linear Unbiased Estimator.(b). Biased Linear Unit Estimator.(c). Bohr’s Linear Unbiased Estimator.(d). Best Linear Unit Estimator.Need the correct answer urgently! Note:- Please refrain from offering handwritten solutions. Please ensure that your response maintains accuracy and quality to avoid receiving a downvote. Take care of plagiarism. Answer completely. You will get up vote for sure.
