Mete is Esra's boyfriend. Esra is expecting a marriage proposal from Mete. Today is Sunday. Mete says Esra that: (1) he is going to propose Esra on Monday or Tuesday or Wednesday or Thursday or Friday, at 10:00 pm. (2) he knows right now the day when he will propose (3) but the day of proposal will be a surprise to Esra: On the day of the proposal, she would not be expecting the proposal that day. Esra says Mete that what he says is impossible. Explain why Esra is right in a few sentences.
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Mete is Esra's boyfriend. Esra is expecting a marriage proposal from Mete.
Today is Sunday. Mete says Esra that:
(1) he is going to propose Esra on Monday or Tuesday or Wednesday or Thursday or Friday, at 10:00 pm.
(2) he knows right now the day when he will propose
(3) but the day of proposal will be a surprise to Esra: On the day of the proposal, she would not be expecting the proposal that day.
Esra says Mete that what he says is impossible. Explain why Esra is right in a few sentences.
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- A clothing store and a jeweler are located side by side in a shopping mall. If the clothing store spend C dollars on advertising and the jeweler spends J dollars on advertising, then the profits of the clothing store will be (36 + J )C - 2C 2 and the profits of the jeweler will be (30 + C )J - 2J 2. The clothing store gets to choose its amount of advertising first, knowing that the jeweler will find out how much the clothing store advertised before deciding how much to spend. The amount spent by the clothing store will be Group of answer choices $17. $34. $51. $8.50. $25.50.Portsmouth Bank has foreclosed on a home mortgage and is selling the house at auction. There are three bidders for the house, Emily, Anna, and Olga. Portsmouth Bank does not know the willingness to pay of these three bidders for the house, but on the basis of its previous experience, the bank believes that each of these bidders has a probability of 1/3 of valuing it at $600,000, a probability of 1/3 of valuing at $500,000, and a probability of 1/3 of valuing it at $200,000. Portsmouth Bank believes that these probabilities are independent among buyers. If Portsmouth Bank sells the house by means of a second- bidder, sealed- bid auction (Vicktey auction), what will be the bank's expected revenue from the sale?Arielle is a risk-averse traveler who is planning a trip to Canada. She is planning on carrying $400 in her backpack. Walking the streets of Canada, however, can be dangerous and there is some chance that she will have her backpack stolen. If she is only carrying cash and her backpack is stolen, she will have no money ($0). The probability that her backpack is stolen is 1/5. Finally assume that her preferences over money can be represented by the utility function U(x)=(x)^0.5 Suppose that she has the option to buy traveler’s checks. If her backpack is stolen and she is carrying traveler’s checks then she can have those checks replaced at no cost. National Express charges a fee of $p per $1 traveler’s check. In other words, the price of a $1 traveler’s check is $(1+p). If the purchase of traveler’s checks is a fair bet, then we know that the purchase of traveler checks will not change her expected income. Show that if the purchase is a fair bet, then the price (1+p) = $1.25.