Suppose you have been hired as a management consultant by a major oil company to help it optimally price gasoline at its service stations. You have assigned your staff member, Troy, to divide a group of survey participants into a treatment group and a control group. The intent is tell Group A that gas prices have increased, and group B will be told that gas prices have not changed. Participant members will then be surveyed about their purchasing habits. When you come back from lunch you notice how Troy has set up the groups: Number of people Number of Men Number of Women Group A 75 2 73 Group B 75 70 5 You tell Troy that...... because the groups are........
Q: Suppose Ryan and Rita were randomly shown the numbers 68 and 21, respectively, and then asked to…
A: Suppose Ryan and Rita were randomly shown the numbers 68 and 21 respectively and then asked to…
Q: You and a classmate are assigned a project on which you will receive one combined grade. (You each…
A: Note: Since, you've posted question with multiple sub-parts, we will solve the first the first three…
Q: According to the Centers for Disease Control and Prevention, a 40-year-old woman has a 15 in 10,000…
A: Insurance is an agreement in which an insurer repays one more against misfortunes from explicit…
Q: There is a beach with nine regions in it and two pop sellers must choose in which region to situate.…
A: Choosing district 2 rule picking locale 1 is unequivocally on the grounds that every one of the…
Q: Suppose that an incumbent can commit to producing a large quantity of output before the potential…
A: As the game tree shows, the incumbent firm enjoys a first-mover advantage. By moving first, the…
Q: Sonia Music Entertainment (SME) is an American company that holds copyrights of popular songs.…
A: Marginal cost of itone is = w Marginal cost of SME = 0
Q: Suppose that some members of a population are infected with a sexually transmitted virus that causes…
A: Population: A populace is a whole pool from which a measurable example is drawn. A populace may…
Q: Consider the following static Bayesian game: 1. Nature determines whether the payoffs are as in Game…
A: Given information There are 2 players: Row player and Column player There are 2 games: Game A and…
Q: You are the manager of an organization in America that distributes blood to hospitals in all 50…
A: The demand and supply question is given below.
Q: You are the manager of an organization in America that distributes blood to hospitals in all 50…
A: The new demand function for blood, Qd = 210 – 1.5 P 1.5 P = 210 – Qd P = 140 – (Qd/1.5) The new…
Q: ABC Instrument, a manufacturer of precise scientific instruments, relies heavily on the efforts of…
A: We are going to use the concepts such as Participation constraints and incentive compatibility…
Q: Two medical laboratories (lab 1 and lab 2) join forces to develop a new antibiotic. Each laboratory…
A: There are two Labs 1 & 2 providing for the researchers . There are two types of researchers : r1…
Q: Companies should use investment entry modes whenever possible because they offer the greatest…
A: The investment entry method is the one that necessitates the most time and financial and human…
Q: Assume that the two universities in USA (UA and UAA) are competing with one another to attract top…
A: A payoff matrix represents the startegic decision of players which shows their payoff in the case of…
Q: The New York City Council is ready to vote on two bills that authorize the construction of new roads…
A: We are going to use game theoretic approach to answer this question.
Q: Equity Group has launched a private sector focused stimulus package to accelerate economic recovery…
A: Marketing is in charge of informing clients about products, such as who is selling them and why they…
Q: Describe the traditional and interactive communications models of attitude change. Within these…
A: Communication models: Communication is a multidimensional process. It can be difficult to pinpoint…
Q: 1. If when asked how much he or she would pay to have parcel of land set aside for a park, the…
A: At a marketplace, research is made to identify the behavior of an individual towards a specific…
Q: Suppose that some members of a population are infected with a sexually transmitted virus that causes…
A: a. The vaccine helps to eliminate the virus that causes the sexually transmitted disease from the…
Q: Due to an increased number of patients seeking COVID-19 tests and counselling the clinic and the…
A: Hi, according to our guidelines we are allowed to answer only 1 question with upto three…
Q: Two oil companies are deciding how much oil to extract from their properties, which lie above the…
A: Prisoner’s dilemma is the situation where both the party gets success only when they cooperate and…
Q: One way of which has been proposed for sustaining high levels of contribution in voluntary…
A: Allowing participants to pay to penalise free-riders has been suggested as one strategy to maintain…
Q: In a small business, there are two players: the boss and the employee. The employee has to choose…
A: Given information Two players Employee and boss Employee has 2 choices : Training and no training…
Q: Suppose that you are interested in estimating the causal effect of X on Y; however, you are worried…
A: Making causal inferences regarding sensitive and unattainable mindful objects is difficult in the…
Q: You and your partner are choosing how much effort to put towards a group project for a course . You…
A: There are two players : Player y & Player p Player Y payoff = 60yp - y3 Player P payoff = 60yp…
Q: Suppose the two countries can trade shares in the ownership of their perspective assets. Further…
A: When good year reception , Farmer will get 75 plenty of kiwi from home and 12.5 tons from foreign…
Q: County 2 Left -10, -10 -100, -100 Right -100, -100 -8, -8 Left County 1 Right The numbers in each…
A:
Q: ayer 1 and Player 2 are trying to agree on how to split a pie of size 1 in a two-stage bargaining…
A: This is an alternate version of Stahl's bargaining game. Recall that an SPNE is a pair of…
Q: describe how COVID-19 may differentially affect families across the socioeconomic spectrum. That is,…
A: Concerns of a new recession and financial collapse require strong and resilient leadership in…
Q: Assume that the two universities in USA (UA and UAA) are competing with one another to attract top…
A: Payoffatrix is tue representation of the startegic decision and it's pay off corresponding to the…
Q: Pareto’s Principles states that there is an optimal solution that cannot be improved upon without…
A: Pareto efficient outcome is where resources are allocated in the most efficient way. In this when a…
Q: A pharmaceutical company advertises to consumers that their drug HeartONE helps lower the chance of…
A: The problem arises in the market because of the differences in the information. When traders on one…
Q: The mayor of Green City is considering whether to institute a Covid vaccine mandate for public…
A: There are two players in the game : Mayor , Fire Chief Mayor Has Two strategies : Mandate , Non -…
Q: We will loosely model the petrol crisis the UK has recently experienced as a game. Start with a…
A: There are two players : Player 1 & 2 Strategy Set of player1 = Strategy Set of player 2 = {…
Q: Supply & Demand In supply (and demand) problems, y is the number of items the supplier will produce…
A: We are going to use linear equation systems to answer this question.
Q: Your firm imports manufactured goods from China. You are worried that U.S.-China trade negotiations…
A: Given: The marginal tax rate falls to = 35% to 15% An insurance firm pays for a trade insurance…
Q: The onset of the COVID-19 pandemic forced many companies to conduct business remotely rather than in…
A: A market condition of the "monopolistic/imperfect" type will welcome new entrants/products in its…
Q: Suppose that you are interested in estimating the causal effect of X on Y; however, you are worried…
A: Making causal inferences regarding sensitive and unattainable mindful objects is difficult in the…
Q: PQ 18.02 (and 18.03) Two businesses in a market can decide to increase the amount of stores they…
A: Weakly dominant strategy: irrespective of other players actions it given the payoff atleast as high…
Q: Two firms sell an identical product in a market by setting prices simultaneously. Consumers buy from…
A: Nash Equilibrium is the starategy from which no player has the incentive to deviate from chosen…
Q: two timber companies, Alpha and Beta, have to decide whether to harvest timber from the North Hill…
A: The Nash equilibrium is a dynamic hypothesis inside game hypothesis that expresses a player can…
Q: Each player simultaneously chooses a number from {1, 2,..., 10} and writes it down on a piece of…
A: We are given that each player simultaneously chooses a number from [1,2,3...,10]. Let the number…
Q: Three people, Dora, Ellen, and Fabian, are offered to participate in a contest to win a $120 gift…
A: As per BNED Guidelines, we will answer the first question only. If you want us to solve the other…
Q: Two medical laboratories (lab 1 and lab 2) join forces to develop a new antibiotic. Each laboratory…
A: There are two Labs 1 & 2 providing for the researchers . There are two types of researchers : r1…
Number of people | Number of Men | Number of Women | |
Group A | 75 | 2 | 73 |
Group B | 75 | 70 | 5 |
You tell Troy that...... because the groups are........
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 1 images
- When a famous painting becomes available for sale, it is often known which museum or collector will be the likely winner. Yet, the auctioneer actively woos representatives of other museums that have no chance of winning to attend anyway. Suppose a piece of art has recently become available for sale and will be auctioned off to the highest bidder, with the winner paying an amount equal to the second highest bid. Assume that most collectors know that Valerie places a value of $15,000 on the art piece and that she values this art piece more than any other collector. Suppose that if no one else shows up, Valerie simply bids $15,000/2=$7,500 and wins the piece of art. The expected price paid by Valerie, with no other bidders present, is $________.. Suppose the owner of the artwork manages to recruit another bidder, Antonio, to the auction. Antonio is known to value the art piece at $12,000. The expected price paid by Valerie, given the presence of the second bidder Antonio, is $_______. .Two oil companies are deciding how much oil to extract from their properties, which lie above the same underground reservoir. The faster that oil is extracted, the less total oil is extracted. Letting x denote the extraction rate for company X and y denote the extraction rate for company Y, we assume that the total amount of oil extracted is 1/(x + y) million gallons of oil. Of the total amount that is extracted, the share going to company X is x/(x + y), and the share to company Y is y/(x + y); that is, a company’s share depends on how fast it extracts compared with the other company. The price of oil is $100 per gallon. Each company chooses its extraction rate from the interval [1,10] in order to maximize the monetary value of the oil that it extracts. Find the Nash equilibrium extraction rates. (Note: You can assume that the payoff function is hill shaped.)You and a classmate are assigned a project on which you will receive one combined grade. You each want to receive a good grade, but you also want to avoid hard work. In particular, here is the situation: • If both of you work hard, you both get an A, which gives each of you 40 units of happiness. • If only one of you works hard, you both get a B, which gives each of you 30 units of happiness. • If neither of you works hard, you both get a D, which gives each of you 10 units of happiness. • Working hard costs 25 units of happiness. Complete the following payoff matrix given the previous information. In each cell, your classmate's payoff is on the left and yours is on the right. Your Decision Work Shirk Classmate's Decision Work , , Shirk , , The likely outcome is that your classmate and you . If you get this classmate as your partner on a series of projects throughout the year, rather than only once, you are…
- You and a classmate are assigned a project on which you will receive one combined grade. (You each want to receive a good grade, but you also want to avoid hard work. In particular, here is the situation:• If both of you work hard, you both get an A, which gives each of you 40 units of happiness.• If only one of you works hard, you both get a B, which gives each of you 30 units of happiness.• If neither of you works hard, you both get a D, which gives each of you 10 units of happiness.• Working hard costs 25 units of happiness. a. Fill in the payoffs in the following decision box: REFER IMAGE b. What is the likely outcome? Explain your answer.c. If you get this classmate as your partner on a series of projects throughout the year, rather than only once, how might that change the outcome you predicted in part (b)?d. Another classmate cares more about good grades: She gets 50 units of happiness for a B and 80 units of happiness for an A. If this classmate were your partner (but your…You and a classmate are assigned a project on which you will receive one combined grade. (You each want to receive a good grade, but you also want to avoid hard work. In particular, here is the situation:• If both of you work hard, you both get an A, which gives each of you 40 units of happiness.• If only one of you works hard, you both get a B, which gives each of you 30 units of happiness.• If neither of you works hard, you both get a D, which gives each of you 10 units of happiness.• Working hard costs 25 units of happiness.a. Fill in the payoffs in the following decision box: b. What is the likely outcome? Explain your answer.c. If you get this classmate as your partner on a series of projects throughout the year, rather than only once, how might that change the outcome you predicted in part (b)?d. Another classmate cares more about good grades: She gets 50 units of happiness for a B and 80 units of happiness for an A. If this classmate were your partner (but your preferences…The Government of Malaca has decided to sell pollution permits that will allow people to discharge pollutants into its largest freshwater lake. Each permit represents the right to discharge one tonne of pollutants. Malaca has determined that the lake will tolerate a maximum of 40 tonnes of pollutants per year and has decided to sell the permits using a Dutch auction. This means that the auction starts at a very high price, which is reduced in steps until the price reaches a level that will result in all 40 tonnes of pollution permits being sold at the same price. The results of the bidding are shown in table below. Price per PollutionPermit BidderA BidderB BidderC BidderD BidderE $5,500 2 5,000 4 6 4,500 6 6 1 1 1 4,000 8 7 2 2 2 3,500 10 7 4 3 3 3,000 12 9 6 3 4 2,500 14 10 8 3 5 2,000 16 11 9 4 6 1,500 18 12 10 4 7 a. What will be the price of pollution permits as a result of this auction? Price: $ b. Suppose that Bidder E happened to be an…
- You are the manager of an organization in America that distributes blood to hospitals in all 50states and the District of Columbia. A recent report indicates that nearly 50 americans contractHIV each year through blood transfusions. Although every pint of blood donated in the unitedstates undergoes a battery of nine different test, existing screening methods can detect only theantibodies produced by the bodyâs immune system-not foreign agents in the blood, newlyinfected HIV donors can pass along the virus through blood that has passed existing screeningtests. Happily, researchers have developed a series of new tests aimed at detecting and removinginfections from donated blood before it is used in transfusions. The obvious benefit of these testsis reduced incidence of infection through blood transfusions. The report indicates that the currentprice of decontaminated blood is $60 per pint. However, if the new screening methods areadopted, the demand and supply for…Equity Group has launched a private sector focused stimulus package to accelerate economic recovery and resilience in the Eastern and Central Africa region as it recovers from the devastating health, social, humanitarian, and economic impacts of the COVID-19 pandemic. Equity’s Eastern and Central Africa Recovery and Resilience plan is envisaged to provide financing of up-to 2% of the combined GDP of the six economies, in which the Group operates, to the private sector in the form of blended financing of short-term overdrafts, medium term loans and credit facilities which require long-term project and development financing. While launching the Recovery and Resilience Plan Dr. James Mwangi, Equity Group Managing Director and CEO said, “A total of Kshs 678 billion (USD 6 billion) will be available to 5 million MSMEs and 25 million individual borrowers for the next 5 years. The plan conceives that the 5 million businesses largely comprising MSMEs will create 50 million jobs, 25 million…A decrease in the supply of in building materials (shortage) means that construction companies cannot get enough materials to complete all their projects. The owners of construction companies in Fiction Town have a choice between these two options: To lay off (temporarily fire) 10% of their least experienced workers. To reduce the hours of all employees by 5 hours a week, meaning they will be paid for 5 fewer hours of work. What happens to the average income of people who are employed as construction workers? The owners of the companies make profit from the payments made on their construction projects. What happens to the income of the owners? Assume that construction workers are counted as part of the average income in all of Fiction Town. What happens to the average income of people there? Why?
- You are the manager of an organization in America that distributes blood to hospitals in all 50 states and the District of Columbia. A recent report indicates that nearly 50 Americans contract HIV each year through blood transfusions. Although every pint of blood donated in the United States undergoes a battery of nine different tests, existing screening methods can detect only the antibodies produced by the body’s immune system—not foreign agents in the blood. Since it takes weeks or even months for these antibodies to build up in the blood, newly infected HIV donors can pass along the virus through blood that has passed existing screening tests. Happily, researchers have developed a series of new tests aimed at detecting and removing infections from donated blood before it is used in transfusions. The obvious benefit of these tests is the reduced incidence of infection through blood transfusions. The report indicates that the current price of decontaminated blood is $60 per pint.…You are the manager of an organization in America that distributes blood to hospitals in all 50 states and the District of Columbia. A recent report indicates that nearly 50 Americans contract HIV each year through blood transfusions. Although every pint of blood donated in the United States undergoes a battery of nine different tests, existing screening methods can detect only the antibodies produced by the body’s immune system – not foreign agents in the blood. Since it takes weeks or even months for these antibodies to build up in the blood, newly infected HIV donors can pass along the virus through blood that has passed existing screening tests. Happily, researchers have developed a series of new tests aimed at detecting and removing infections from donated blood before it is used in transfusions. The obvious benefit of these tests is the reduced incidence of infection through blood transfusions. The report indicates that the current price of decontaminated blood is $60 per pint.…Suppose that an insurance company has 100 people in the insurance pool. Suppose further that the insurance company charges premiums based on the average health expenditures from the previous year.In 2017 health expenditures totaled $500,000 for the insurance company, so the company will set premiums equal to _____ in 2018. Suppose an event occurred in 2018, causing total health expenditures to rise to $800,000. The insurance premiums in 2019 will _____. Suppose that an insurance company has 100 people in the insurance pool. Suppose further that the insurance company charges premiums based on the average health expenditures from the previous year. a. $6,250; $13,333 b. $13,333; $6,250 c. $500,000; $800,000 d. $5,000; $8,000