The normal distribution should be used for the sample mean because:
The process standard deviation is known, and the normal distribution is appropriate for describing a variable with a known standard deviation.
The central limit theorem states that the distribution of sample means will be approximately normal, even if the underlying population is not normally distributed, as long as the sample size is large enough. And in this case, the sample size is not specified.
The normal distribution is a common distribution used to model many real-world phenomena, and it is especially useful for data that is continuous and symmetric.
It's worth mentioning that there are other distributions that could be used to model the sample mean, such as the t-distribution, but the Normal distribution is a good choice for the sample mean since it is a common, well-understood distribution that can be easily calculated and used for statistical inference.
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Jack Welch, the former CEO of GE, was well known for his philosophy of getting rid of the bottom _____ of GE's employees; Welch would not settle for weak performers and knew that these people would bring down others in the organization.
Former GE CEO Jack Welch was well known for his idea of firing the poorest 10% of the company's workers; Welch would not accept underperformers and was aware that these individuals would bring down other members of the business.
Who was Jack Welch?
From 1981 to 2001, Jack Welch served as the chairman and CEO of General Electric (GE). Welch oversaw a significant rise in GE's market value from $14 billion to $410 billion. After completing his Ph.D. in chemical engineering from the University of Illinois at Urbana-Champaign, Welch started working at GE as a junior engineer in 1960. Between 1981 and 2001, he worked his way up the corporate ladder to become the company's chair and CEO.
Welch repeatedly threatened to leave the company in his early years of work because of ineffective bureaucracy. But he sought to reduce red tape and boost growth in his capacity as CEO and chair.
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carla questioned the ethics of her company in hiring an indonesian firm to manufacture its clothing products. she knew that women who worked in these sewing factories were forced to work long hours in substandard conditions and she knew she wouldn't like to work that way. carla is demonstrating the use of
Carla is demonstrating the use of Moral imagination. Moral imagination is a method of inference that is intended to combat the organisational elements decision-making that skew ethical judgement.
The four decision-making processes defined by Rest (1986), namely moral sensitivity, moral judgement, moral intention, and moral behaviour, are what we refer to as the four components of the psychology of moral imagination. According to philosopher Mark Johnson, moral imagination entails imagining all potential outcomes in a certain circumstance in order to address an ethical dilemma. Johnson underlines that upholding moral principles frequently calls for more than just moral fortitude. To decide what is right or wrong and what people should behave in a given scenario, moral reasoning applies critical analysis to particular events.
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What is direct finance in financial system?
When someone borrows money directly from the financial markets rather than through an intermediary or third-party service.
This is typically done to avoid the high borrowing costs associated with indirect finance, where interest rates can raise the overall cost of loans.
When you apply for a loan through the same lender, which is usually a bank or other financial institution, this is referred to as direct financing. You'll get your personal loan or interest rate with direct finance, and you'll know how much you'll have to spend at the dealership.
Direct financing is when you apply for a car loan directly from the lender, such as a bank or financial institution. In this case, you know how much money you have before going to the dealership. Finance Direct Examples: A corporation purchases newly issued commercial paper directly from another corporation; a household purchases a newly issued government bond through the services of a broker (no asset transformation).
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lee just started working in a traditional, corporate setting that has many workplace regulations. lee's previous job was with an innovative start-up company. she wants to send a question to her manager about a presentation she is planning. she needs an immediate answer, so she decides to send an instant message. which of the following should she consider before sending the message? (choose every correct answer.)
Lee should evaluate the meta message of her instant message. Lee should think about her manager's attitudes toward instant messaging.
What is instant messaging?Instant messaging (IM) is a text - based communication method in which two people engage in a single discussion via their computers or mobile devices in a chatroom on the Internet.People may communicate knowledge instantly using instant messaging and take swift judgements. Typically , messages are sent between two or more parties when each user enters text, which causes a transmission to the receiver, who is also connected to the same network.Lee should evaluate the meta message of her instant message. Lee should think about her manager's attitudes toward instant messaging.To learn more about instant message refer to:
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Which of the following principles does utilitarianism emphasize?
a. Producing the greatest good for the greatest number
b. Acting only out of self-interest
c.Ensuring that a fair decision is an impartial decision
d. Obeying the law and keeping promises
Producing the greatest good for the greatest number utilitarianism emphasizes.
In this case, option A is correct
This kind of consequentialism exists here.According to utilitarianism, a decision should be made if it will result in the greatest amount of benefit for the greatest number of people. The only moral foundation that can support the use of force or war is this one. Because it takes into account costs and benefits, it is also the method of moral reasoning that is most frequently applied in business.But it's hard to say for sure whether the effects of our actions will be positive or negative because we can't predict the future. The utilitarian philosophy has some drawbacks, including this.As for values like justice and fairness, utilitarianism has a difficult time explaining them.To know more about utilitarianism here
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Among the following "Producing the greatest good for the greatest number" is the principles utilitarianism emphasizes.
An action is appropriate if and only if it contributes to the general welfare at least as much as any other action the agent could have taken. To put it another way, an agent always behaves correctly if she optimises general well-being, and incorrectly if she does not.
For instance, the utilitarian viewpoint holds that you should select the flavour of ice cream that would make you feel the happiest if you are making a decision for yourself. If you like chocolate but detest vanilla, go with chocolate for the delight it will provide and stay away from vanilla since it will make you unhappy.
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FILL IN THE BLANK a(n) ________ is an example of an ecosystem with high primary productivity, while a _______ is an example of an ecosystem with low primary productivity.
An algal bed is an example of an ecosystem with high primary productivity, while a desert is an example of an ecosystem with low primary productivity.
What is Net Primary Productivity?Net Primary Productivity (NPP) is the percentage at which biomass or energy accumulates. NPP is mainly calculated as a rises in biomass per unit time per unit area. Photosynthesis is the process by which solar energy is converted to chemical energy. This process results in the creation of biomass. This energy is useful in order to move up the food chain.
Water amount, temperature, nutrient content, and sunlight are factors that determine the low or high level of primary productivity. An algal bed can quickly convert solar energy to biomass energy and therefore has a high primary productivity. On the other hand, desert organisms do not quickly convert solar energy to biomass energy and therefore has a low primary productivity.
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Have companies done enough to adjust to women in the workplace?
They still need to do more, the workplace may be made more welcoming for women by offering generous maternity leave, flexible hours, and remote work to relieve childcare issues.
What is a workplace?A workplace is a place where someone performs work—either for their employer or for themselves. Such a location could be anything from a home office to a sizable office complex or factory.
Your workplace is the place where you go to work each day and are employed. Your workplace is an example of where you go to work each day to perform your duties.
Specifically, "You go to work at the workplace, and you work at the workspace." In essence, your workspace and workplace are synonymous terms for where you go to work. While they are both always changing and have room for improvement.
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I hate to ________ with you over the cost of a few gallons of gasoline, but I have to because I don't have a dime to spare.
I hate to fight with you over the cost of a few gallons of gasoline, but I have to because I don't have a dime to spare. Thus the correct answer to the blank is fight.
Numerous distinct compounds containing hydrogen and carbon make up gasoline (hydrocarbons). About 150 distinct hydrocarbons, including butane, pentane, isopentane, and the BTEX chemicals, are often included in a normal gasoline combination. Because of its high energy of combustion and ability to mix easily with air in a carburetor, gasoline originally a byproduct of the petroleum industry, with kerosene being the main product became the favored fuel for automobiles. Gasoline is therefore another name for petrol.
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technology improves the productivity of a farmer by enabling access to the latest prices for commodities and using satellites to view his fields. what are two other ways that technology has improved the productivity of a farmer? multiple select question. showing the farmer how to seed and fertilize to get the best yields watching the nightly weather reports on television using high tech equipment to minimize the farmer's yields to reduce the costs of fertilizer and seed accessing websites to communicate with farmers around the world
Yes, that is correct. Precision agriculture uses technology to gather data on soil conditions, weather patterns, and crop growth, which can be used to optimize planting, fertilization, and harvesting for maximum yields.
Livestock monitoring uses technology to gather data on the health and behavior of livestock, which can be used to improve breeding and feeding practices, resulting in increased productivity.
Precision agriculture: the use of technology such as GPS, drones, and sensor-based equipment to optimize planting, fertilization, and harvesting, resulting in increased yields and reduced costs.
Livestock monitoring: the use of technology such as sensors, cameras, and wearable devices to monitor the health and behavior of livestock, which can improve breeding and feeding practices, resulting in increased productivity
Crop forecasting and prediction: use of technology such as machine learning and big data analytics to make predictions about crop yields, weather patterns and market conditions which can help farmers make better decisions.
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the concept requires that the financial statements and notes include all necessary information to prevent a reasonably astute user of the financial statements from being misled.
The term "full disclosure" refers to the idea that the financial statements including notes must contain all pertinent information to guard against deceiving a prudent user of a financial statements.
Define the term full disclosure?Full disclosure generally is the general requirement for both parties to disclose the complete truth regarding any significant aspect of a business transaction.
For illustrate, in real-estate transactions, a seller often signs a disclosure document that, if it is later revealed that the seller willfully misrepresented or omitted material facts, might subject the seller to legal repercussions. Both closing the deal, the seller and the real estate broker or broker must be open and truthful about all pertinent details. One or even both parties could be accused of perjury if they lied or omitted to reveal crucial information.The term "full disclosure" refers to the idea that the financial statements including notes must contain all pertinent information to guard against deceiving a prudent user of a financial statements.
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Of the manufactured goods exported by developing countries, most of them are ______ and include ______ of technology in their production
a. labor intensive, modest amounts
b. labor intensive, large amounts
c. capital intensive, modest amounts
d. capital intensive, large amoun
Of the manufactured goods exported by developing countries, most of them are labor-intensive and include modest amounts of technology in their production. Hence option (a) is the answer.
What are manufactured exports?Any developing economy's primary source of growth in exports. It may have an impact on a nation's interest rates, GDP, and amount of inflation. Exports that are manufactured are made up of four categories of resource-based exports, low-tech exports, medium-tech exports, and high-tech exports. Exports that are medium-high in technology are made up of both medium-tech exports and high-tech exports.
Manufacturing net exports combined represent the total value of manufacturing exports globally. Due to scale and specialized advantages, it is preferable in exporting manufactured items. Due to the ability to specialize their product lines and take advantage of economies of scale made possible by access to international markets, exporters' productivity and average production costs are lowered.
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a. many people regularly commute from the suburbs to downtown pleasantville. due to traffic congestion, the trip takes 30 minutes via highway but only 15 minutes via side streets.
No, there is no equilibrium here. Many individuals often travel into downtown Pleasantville from the suburbs. The drive takes 30 minutes on the highway but still only 15 minutes on minor streets because of traffic congestion.
Explain the term equilibrium?A theoretical condition of balance inside a social system known as "social equilibrium" refers to both an internal balance among linked social phenomena and the interaction the system upholds with its surroundings.
For the given question:
Many individuals often travel into downtown Pleasantville from the suburbs. The drive takes 30 minutes on the highway but still only 15 minutes on minor streets because of traffic congestion.Assume that people just care about how long it takes them to get to work, not other factors like the number of turns they must make or the scenery. Some folks could benefit more from taking the side streets because it would speed up their commute. Travel times just on highway and the side streets ought ultimately eventually equalize as the situation progresses toward equilibrium (such that, as more people utilize the side streets).Thus, no, there is no equilibrium here.
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The complete question is:
Many people regularly commute from the suburbs to downtown pleasantville. due to traffic congestion, the trip takes 30 minutes via highway but only 15 minutes via side streets.
Does this situation describe an equilibrium?
FILL IN THE BLANK The purpose of a model is to construct an abstraction from real-world ______ to make events _______. To be useful, a model requires ______ assumptions.
The purpose of a model is to construct an abstraction from real-world complexities to make events understandable. To be useful, a model requires simplified assumptions.
A model is a condensed depiction of a complicated system used to comprehend it and make predictions about it. For instance: Economists construct theories and models similar to how a map is drawn. They remove certain details from reality and abstract them from it. They concentrate on the main elements or variables that will, in their opinion, explain the fact they are attempting to comprehend. In research, models are frequently employed to examine real-world systems that are too complicated to be directly understood.
A model's goal is to represent the key characteristics of the system or phenomenon being researched while simplifying minor details. A model must include simplified assumptions about the system or phenomenon being researched to be useful. Certain assumptions are made based on what is known about the system and what is pertinent to the idea being addressed.
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businesses can be more successful by responding to a customer's needs and wants they track using: multiple select question. databases that use bar codes to track customer's purchases databases of customer buying preferences competitors' patented information databases that track a customer's specific choices
Businesses can be more successful by responding to a customer's needs and wants they track using databases that track a customer's specific choices.
All customer data is gathered, controlled, transformed, and shared within a business in a CRM (customer relationship management) database. It has features for marketing and sales reporting that are beneficial for running sales and marketing campaigns and raising client involvement. Consider a customer database as a smart, interactive contact list. Your database contains important data on your clients, including emails, demographics, and past purchases. Customer data consists of the behavioural, demographic, and private data that companies gather on their clients.
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Sloane analyzes the quantity of goods or services that businesses are willing to sell at different prices at specific times. Sloane is focusing on
Sloane examines the volume of commodities or services that companies are prepared to offer at certain prices at particular times. Sloane is concentrating on competition.
What is competition?Whenever companies or buyers battle against one another for consumers' company in an attempt to achieve a specific corporate goals, such as profits, revenue, and/or share of the market, the marketplace is said to be in a competitive race. Competition & conflict are frequently interchangeable in this situation.
Economic theory demonstrates that when companies must compete for clients, the end effect is lower prices, better products and services, greater variety, and significantly more innovation. Competition in business reduces a firm's market share as well as its clientele, particularly when there is a to provide constraint.
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Jones Company signs a $15,000, 12-month note and receives $14,250 from the bank. On the day that Jones signs the note, the company should debit (Select all that apply.)discount on notes payable for $750.cash for $14,250.
The day Jones signs the note, the business must deduct $750 from the discount on notes payable (Select all that apply). for $14,250 in cash.
The payables are who or what?
Accounts payable (AP), sometimes known as "payables," refers to a company's current, short-term obligations to its creditors or suppliers. A company's balance sheet displays its current liabilities, also known as payables.
A person will receive the money if their name appears on a check made out to them or their business: Don't forget to make checks payable to Oxford Ecobuild.
Whether or not the due date has past, the term "due" means any sum for which payment is legally required. Any debt that is "payable" means it can be paid
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In the case of positive externalities, tax breaks for businesses that set up in areas of high unemployment might be justified because
- tax breaks can be passed along to workers as higher wages.
- additional employment will increase the income tax base.
- positive externalities require that tax breaks be given.
- additional employment will increase the housing demand.
In the case of positive externalities, tax breaks for businesses that set up in areas of high unemployment might be justified because additional employment will increase the income tax base.
What is income tax base?The whole amount of income, property, assets, consumption, transactions, or other economic activity that a tax authority is allowed to tax is known as the tax base. It is ineffective and non-neutral to have a small tax base. A wide tax base lowers the cost of tax administration and enables more revenue generation at lower rates. The total market value of all the assets, properties, and income in a given region or jurisdiction is what is referred to as the tax base. The tax base must be multiplied by the tax rate to determine the overall tax obligation: Tax Base x Rate = Tax Liability.As an example, the total dollar amount of taxable income in the case of personal income tax or the total dollar value of real estate in the case of real property tax are two common examples of tax bases that are quantified as a dollar amount to which a tax rate is applied.To learn more about income tax base refer to:
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Exhibit 3-13 displays Quantity Demanded. Assume that Jose, Kaitlyn, Leah, and Maria are the only buyers in this market.
Price Jose Kaitlyn Leah Maria Market
$5 50 20 25 40 (A)
6 45 18 23 36 (B)
7 40 16 20 32 (C)
8 28 14 17 28 (D)
9 15 12 14 20 (E)
10 6 10 10 12 (F)
Refer to Exhibit 3-13. Fill in blanks (A) and (B) respectively with the market quantity demanded at each given price.
135; 122
82; 72
27; 20.33
none of the above
96; 86
82; 72 respectively with the market quantity demanded at each given price.
What Is Quantity Demanded?The phrase "quantity demanded" is used in economics to refer to the overall quantity of an item or service that customers demand during a specific period of time. Whether or whether a market is in equilibrium is irrelevant; what matters is the cost of an item or service.The term "demand" in economics refers to the complete curve depicting the connection between price and quantity. A given location on that curve, where a certain price is connected to a particular amount, is referred to as the "quantity desired."82; 72 respectively with the market quantity demanded at each given price.
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With _________, government has total control over all economic activity whereas with _______ the markets and prices direct nearly all economic activity.
With a command system, government has total control over all economic activity whereas with laissez-faire the markets and prices direct nearly all economic activity.
What is comman system?A command economy is one in which the government has complete authority over the economy. This economy is distinguished by state control over wages and prices, restricted property rights, government ownership of important firms and industries, and thriving black markets.
Define the characteristics of a command economy.A command economy is one in which all economic decisions are made by a central authority. The land and methods of production are owned by the government or a communal.
What is laissez-faire system?It let private firms to produce as much money as they could without government intervention, with the hope that this riches would trickle down to citizens.
Is laissez-faire a good or bad?When governments reduce taxes to boost the market, this is also based on laissez-faire doctrine. Damages might be extremely costly when the market environment is volatile and rapidly changing. Its leadership can lead to ineffective crisis management.
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hlp ltd. has already set up a private web server for its corporate network with windows as an operating system, and now they have contacted you to make their network remotely accessible to a certain group of employees. they have also requested you to ensure that the selected protocol provides secured and encrypted transmissions. Which of the following protocols would you apply so that the employees can have secured remote access to the computer server?
RDP protocols will be applied so that the employees can have secured remote access to the computer server.
Microsoft developed the Remote Desktop Protocol, a safe network communication standard (RDP). Users can use their actual work desktop PCs from a distance, and network administrators can utilize it to remotely identify problems that certain users are experiencing.
RDP can be used by employees who require remote access to their work computers while at home or traveling. Administrators who need to undertake system maintenance as well as support specialists who need to remotely diagnose and fix a user's system typically use RDP.
To use a remote desktop session, a user or administrator must connect to a distant Windows PC or server running RDP server software using RDP client software.A graphical user interface enables the distant user or administrator to access apps and modify files just as if they were physically present.
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An insured has a Social Insurance Supplement (SIS) Rider in her disability plan. Following disability, she begins receiving SS benefits that are smaller than the SIS. At that point her insurance ends the SIS benefit payments. Which of the following best describes the situation?
-This is typical in a SIS rider
-Insured should contact insurer. SIS rider should pay the difference between the rider amount and the actual benefit
-Miscommunication. Proper authorities should be notified to end SS payments so SIS rider will continue to pay
-Although a mistake may have occurred, the insured has no recourse.
The insured should contact the insurer to ascertain her actual Social Security benefit amount. The SIS rider should pay the difference between the rider amount and the actual benefit. So option b. is correct.
An SIS rider can lessen your premium because it minimizes the insurance company's responsibility to pay you disability usefulness. Depending on the insurance company, social insurance riders may be called a social insurance supplement riders (SIS) or social insurance alternate benefits riders, or supplemental disability income riders (SDIR). The SIS rider directs you to involve in SSDI if you become disabled, and your Social Security advantages will be utilized to offset the benefits you obtain from your personal disability coverage.
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The President of PDQ Corporation donates restricted PDQ shares to the United Way after holding them for 3 years fully paid. United Way can sell the stock without restriction: Correct A. immediately StatusB B. after holding the securities for 90 days StatusC C. after holding the securities for 2 years StatusD D. after holding the securities for 3 years - The best answer is A. As long as the 6-month holding period requirement has been met on the restricted shares (the officer held them 3 years) when they are donated, the charity can sell them immediately. There is no requirement that another 6-month holding period be met.
Option A id correct. The President of PDQ Corporation holds all restricted PDQ shares for three years before donating them to the United Way. United Way can sell shares immediately without restrictions.
Who are PDQ`s current President?In 1991, Charlie Lieb, now the president of PDQ, joined the small company as chief operating officer, providing expert management skills. PDQ Manufacturing Co., Ltd.
What does PDQ in manufacturing mean?Before the term Retail-Ready Packaging (RRP) became standard, Walmart called this process "PDQ labeling." It means "pretty darn quick. The concept was that brands would package the products in such a way that Walmart stores could shelve the products quickly.
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the following balances were taken from the general ledger of howser corporation as of december 31. all balances are normal. cash $13,500 accounts receivable $24,300 accounts payable 13,500 common stock 81,000 equipment 67,500 dividends 5,400 utilities expense 4,500 administrative expense 18,000 sales revenue 38,700 prepare a trial balance.
A trial balance is a financial statement that lists the balances of all accounts in the general ledger at a given point in time. The following is the trial balance for Howser Corporation as of December 31:
Debit Accounts
Cash: $13,500
Accounts Receivable: $24,300
Accounts Payable: $13,500
Equipment: $67,500
Utilities Expense: $4,500
Administrative Expense: $18,000
Sales Revenue: $38,700
Credit Accounts
Common Stock: $81,000
Dividends: $5,400
Total Debit Accounts: $147,200
Total Credit Accounts: $86,400
The trial balance for Howser Corporation as of December 31 shows that the total debit accounts equal the total credit accounts. This indicates that the company's books are in balance and that the company has correctly recorded its transactions.
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There is a constantly recuring issue between human resources departments and operating managers as to who should make critical human resources-related decisions. Line managers claim they are responsible for results; therefore, they should have the authority to hire, fire, compensate, and perform other human resources activities. However, when operating managers are given complete control, inequities and inconsistencies arise.
1. You are the executive president of ITN Logistics Itd. And were asked to resolve this dispute, which argument would you agree with and why?
2. Can you suggest a compromise that would allow line managers to make these decisions constantly?
As they must communicate the types of personnel needed so that human resources can hire and discharge people in accordance with those requirements, the operations team should have the power to manage any injustices and discrepancies that may develop.
What to suggest a compromise that would allow line managers to make these decisions constantly?Some of the suggestions are-
Foster a strong culture through communication. Examine the Pay and Benefits.Develop internal talent, implement wellness programs, and guarantee compliance.Accept technology and analytics.Recognize the strategic goals of your company.Thus, The operations team should have the authority to control over the inequities and inconsistencies arise.
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The division of responsibility between corporate and business strategy is consistent with the following principle:
a. The hierarchical nature of authority within organizations
b. Corporate level strategy is the domain of headquarters executives; divisional managers are responsible for business strategies
c. Delegation is the key to reconciling responsiveness and adaptability with overall integration
d. Corporate level strategy is the domain of the parent company; functional managers are responsible for business strategies
B) Executives at headquarters are in charge of corporate-level strategy; Business strategies are the responsibility of divisional managers.
Who in an organization is in charge of strategic management?
The CEO is in charge of the strategic planning process and is in command of it. They frequently play the role of the visionary, hoping to present the options available for the future and obtain board approval.
Which division is in charge of strategy?
As a coordinating body, a corporate strategy department creates and implements strategies that advance the company's overall objectives while also meeting the needs of individual departments.
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True or false? If requested by the contractor, the Resident Project Representative or inspector may offer suggestions as to how to do the work.
They could be held accountable for the work if they do not. Owners' representatives or inspectors have no authority over how work is done.
The statement given is false.
What relationship should the resident project representative maintain with the contractor?You must remain calm and decisive in your decisions while still maintaining a good relationship with the Contractor and Client. Communication includes scheduling updates, problem-solving, responding to the Contractor's inquiries for clarification and adjustments, and communicating about potential issues.
The contractor's working procedures and methods should be left in the contractor's hands rather than being managed by the resident project representative.
The contractor develops a "change order proposal" in order to bill for the extra work. After the owner and contractor agree on the scope, cost, and schedule, a formal, written change order is created and signed by all parties. Once the task has been modified, the contractor gets to work.
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what are the basic factors for selecting business? Explain any two factor of it.
Answer:
The choice of an appropriate form of ownership organisation is a crucial entrepreneurial choice since it has an impact on the performance and expansion of a business, affecting factors like profit margins, business risk, and other factors. As was previously said, there are differences between the various types of private ownership organisations in terms of profit distribution, control, risk, legal requirements, flexibility, etc.
In light of this, only that type of ownership should be adopted after careful examination of the issue. It is preferable to examine this issue at both of these levels because the necessity to choose an ownership organisation emerges both early on when starting a business and later on to fulfil the needs of growth and expansion.
two examples are - nature of activity and scale of operations.
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What is an example of internal-operational communication
Answer:
Blogs for businesses. Employee education within a company. Meetings with individuals. Employees converse over the phone.
table shows the payoff matrix for walmart and target from every combination of pricing strategies for the popular playstation 4. at the start of the game each firm charges a low price and each earns a profit of $7,000. is the current strategy in which each firm charges the low price and earns a profit of $7,000 a nash equilibrium? if not, why and what is the nash equilibrium? a. yes, the current situation is a nash equilibrium. b. no, it is not a nash equilibrium because each firm can do better by charging the high price. the nash equilibrium occurs when each firm charges the high price and earns a profit of $10,000. c. no, the current situation is not a nash equilibrium; it is a dominant strategy equilibrium. there is no nash equilibrium in this game. d. no, the current situation is not a nash equilibrium. the nash equilibrium for each firm is to have the other charge a high price and for the firm in question charge a low price.
The table shows- a cooperative equilibrium in which each firm charges the high price.
In economics, the concept of "cooperative equilibria" has been introduced from game theory. It refers to the equilibria of economic situations that are modelled using cooperative games and resolved by making use of the proper cooperative solution concept. Though not entirely in one direction, the influence does exist. The Cournot-Nash equilibrium and the Core, for example, are formalizations of economic concepts that have been around for a while. In a non-cooperative game in which no player has any incentive to alter their initial strategy, Nash Equilibrium, a concept from game theory, determines the best course of action. The Nash equilibrium states that, assuming the other players also maintain their initial strategies, a player does not benefit from changing their course. Multiple Nash equilibria can exist in a game, or none at all.
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recall that we use nominal and ordinal measurement scales to represent categorical variables. which of the examples below represent a nominal scale representation of a categorical variable?
Recall that we use nominal and ordinal measurement scales to represent categorical variables.Hair color is also a categorical variable having a number of example blonde, brown, brunette, red,etc
The most useful graph for displaying the relationship between two quantitative variables is a scatterplot.The correlation coefficient (r) is a numerical measure that measures the strength and direction of a linear relationship between two quantitative variables.Predictive analytics is the use of data, statistical algorithms and machine learning techniques to identify the likelihood of future outcomes based on historical data.The goal is to go beyond knowing what has happened to providing a best assessment of what will happen in the future.Business analytics techniques that help to find answers to the should we do in the future are called prescriptive analytics.
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