YorMagnets and YorMugs are two companies selling merchandise to tourists visiting the city of York. YorMagnets sells fridge magnets and YorMugs sells mugs with images of popular attractions. Assume that YorMagnets is the only company producing magnets for York and YorMugs is the only company producing local mugs. The daily demand for magnets (until 2019) is given by D1 = 50/9 – 200/9 P1 + 100/9 P2.
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- Jake and Latasha are farmers. Each one owns a 20-acre plot of land. The following table shows the amount of alfalfa and barley each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing alfalfa or barley or to produce alfalfa on some of the land and barley on the rest. Alfalfa Barley ← (both in bushels per acre) Jake 14 7 Latasha 30 6 Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure.Suppose a country has 100 million inhabitants. The population can be divided into the employed, the unemployed, and the persons who are out of the labor force (OLF). In any given year, the transition probabilities among the various categories are given by Moving into: Employed Unemployed OLF Moving from: Employed Unemployed OLF 0.94 0.20 0.05 0.02 0.65 0.03 0.04 0.15 0.92 These transition probabilities are interpreted as follows. In any given year, 2 percent of the workers who are employed become unemployed; 20 percent of the workers who are unemployed find jobs, and so on. What will be the steady-state unemployment rate?11. Without excel
- A bag contains 12 yellow balls of 400 grams each and 18 blue balls of 700 grams each. Some yellow and some blue balls are taken from this bag and thrown into a second empty bag. At the end of this process; The average of the weights of the balls in the first bag was 500 grams, and the average of the weights of the balls in the second bag was 600 grams. What is the number of blue balls thrown into the second bag? A) 16 B) 14 C) 12 D) 10 E) 8Explain 16 correctlyedian household incomes tend to increase from one year to the next. In 2019, the median household income was $64,101 in Madison, Wisconsin, and $42,087 in Milwaukee. In 2020, the median household incomes were $66,847 in Madison and $44,192 in Milwaukee. Find the absolute and relative changes for median household incomes in Madison and Milwaukee from 2019 to 2020. Give any percentage values rounded to the nearest tenth of a percent and dollar values to the nearest whole dollar amount. (a) From 2019 to 2020, the absolute change for median household income in Madison was$ . (b) From 2019 to 2020, the relative change for median household income in Madison was %. (c) From 2019 to 2020, the absolute change for median household income in Milwaukee was$ . (d) From 2019 to 2020, the relative change for median household income in Milwaukee was %. Use the "Add Work" button to show your work and thought process for these calculations. You may type
- Suppose that Var(X) = 661.1, Var(X) = 8021.53, and Cov(X,Y) = 1922.11. What is Var(.64X + .36Y)? Suppose that Var(X) = 869.03, Var(X) = 7850.84, and Cov(X,Y) = 2238.69. What is Var(.67X + .33Y)?Assume that driving skill, S, varies throughout the population. Automobile insurers classify drivers into two categories: “Good” and “Bad”. Good drivers are those people who have driving skills above a threshold level of driving skill, S*. Bad drivers, on the other hand, have driving skills that fall below the threshold level, S*. Good drivers pay lower rates than Bad drivers. Additionally, assume that it’s common knowledge that Welsh are more skillful drivers than Scots, such that a higher proportion of the Welsh population has driving skills above S* than the Scottish population. Also assume that there is a law that prohibits insurers from learning a person’s driving skill. Suppose that drivers can decide to use a new device that will send credible real time driving data to their insurance company (e.g., speed, stopping distance, driving times, etc.) that allows insurers to correctly classify a driver as having skill greater than or less than S*. Which group would be most likely to…Assume that driving skill, S, varies throughout the population. Automobile insurers classify drivers into two categories: “Good” and “Bad”. Good drivers are those people who have driving skills above a threshold level of driving skill, S*. Bad drivers, on the other hand, have driving skills that fall below the threshold level, S*. Good drivers pay lower rates than Bad drivers. Additionally, assume that it’s common knowledge that Welsh are more skillful drivers than Scots, such that a higher proportion of the Welsh population has driving skills above S* than the Scottish population. Also assume that there is a law that prohibits insurers from learning a person’s driving skill. Suppose that drivers can decide to use a new device that will send credible real time driving data to their insurance company (e.g., speed, stopping distance, driving times, etc.) that allows insurers to correctly classify a driver as having skill greater than or less than S*. Who is most likely to employ these…
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