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The policy in the U.S. for the sugar industry can be hard to explain. Suppose our analysis shows that each of the 12,000 or so sugar producers in the U.S. tends to get on average $160,000 in rents each year from the U.S. sugar policies. Furthermore, each of the 120,000,000 or so U.S. households tends to lose about $20 each year from paying higher prices for sugar than they would otherwise pay without the sugar support policies in place. Let's try to explain the policy outcome using the Stigler equation: V = nh - (N-n)s Where •n = the number of potential votes in support of the policy •N- the number of total potential voters •h= the probability of voters in support of the policy actually turning out and voting • s- the probability of voters in opposition to the policy actually turning out and voting 3a. What does the outcome variable V mean? OV- the total number of votes cast in support of the policy OV- the total number of votes cast against the policy Ov- the net number of votes cast for the policy minus votes cast against the policy

The policy in the U.S. for the sugar industry can be hard to explain. Suppose our analysis shows that each of the 12,000 or so sugar producers in the U.S. tends to get on average $160,000 in rents each year from the U.S. sugar policies. Furthermore, each of the 120,000,000 or so U.S. households tends to lose about $20 each year from paying higher prices for sugar than they would otherwise pay without the sugar support policies in place. Let's try to explain the policy outcome using the Stigler equation: V = nh - (N-n)s Where •n = the number of potential votes in support of the policy •N- the number of total potential voters •h= the probability of voters in support of the policy actually turning out and voting • s- the probability of voters in opposition to the policy actually turning out and voting 3a. What does the outcome variable V mean? OV- the total number of votes cast in support of the policy OV- the total number of votes cast against the policy Ov- the net number of votes cast for the policy minus votes cast against the policy

Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 28EQ
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3b. Based on the description above, what value would you put in for n? O 12,000 O 120,000,000 119,988,000
Transcribed Image Text:3b. Based on the description above, what value would you put in for n? O 12,000 O 120,000,000 119,988,000
The policy in the U.S. for the sugar industry can be hard to explain. Suppose our analysis shows that each of the 12,000 or so sugar producers in the U.S. tends to get on average $160,000 in rents each year from the U.S. sugar policies. Furthermore, each of the 120,000,000 or so U.S. households tends to lose about $20 each year from paying higher prices for sugar than they would otherwise pay without the sugar support policies in place. Let's try to explain the policy outcome using the Stigler equation: V = nh - (N-n)s %3D Where •n= the number of potential votes in support of the policy •N= the number of total potential voters •h= the probability of voters in support of the policy actually turning out and voting • s- the probability of voters in opposition to the policy actually turning out and voting 3a. What does the outcome variable V mean? O v- the total number of votes cast in support of the policy OV- the total number of votes cast against the policy OV- the net number of votes cast for the policy minus votes cast against the policy
Transcribed Image Text:The policy in the U.S. for the sugar industry can be hard to explain. Suppose our analysis shows that each of the 12,000 or so sugar producers in the U.S. tends to get on average $160,000 in rents each year from the U.S. sugar policies. Furthermore, each of the 120,000,000 or so U.S. households tends to lose about $20 each year from paying higher prices for sugar than they would otherwise pay without the sugar support policies in place. Let's try to explain the policy outcome using the Stigler equation: V = nh - (N-n)s %3D Where •n= the number of potential votes in support of the policy •N= the number of total potential voters •h= the probability of voters in support of the policy actually turning out and voting • s- the probability of voters in opposition to the policy actually turning out and voting 3a. What does the outcome variable V mean? O v- the total number of votes cast in support of the policy OV- the total number of votes cast against the policy OV- the net number of votes cast for the policy minus votes cast against the policy
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