The ________ of an uncertain payoff is defined as the weighted average of all possible outcomes, where the probability of each outcome is used as the weights.
A. expected value
B. variance
C. skewness
D. standard deviation
Answer: A
You might also like to view...
Define X = exports, M = imports, S = saving, I = investment, T = net taxes, G = government expenditure. Which of the following formulas is correct?
A) X - M = S - I - T - G B) X - M = S - I + T - G C) X - M = S + I + T - G D) X - M = S + I -T + G E) X - M = S + I +T + G
A university raises annual tuition by 10 percent. No other events have occurred, and the university's revenues have increased. It must be TRUE that
A) the associated change in quantity demanded was smaller than 10 percent. B) the associated change in quantity demanded was equal to 10 percent. C) the associated change in quantity demanded was greater than 10 percent. D) there was no associated change in quantity demanded.
If the quantity of bread demanded rises 2 percent when the price of bread declines 10 percent, then the price elasticity of demand is:
A. 0.2. B. 2. C. 5. D. 10.
Refer to the information provided in Table 8.4 below to answer the question(s) that follow. Table 8.4ProduceUsing TechniquesUnits of Variable KInputs L1 unit of outputA4 4?B2 6????2 units of outputA 7 6?B410????3 units of outputA 8 6?B 6 11Refer to Table 8.4. Assuming the price of capital (K) is $10 per unit and the price of labor (L) is $5 per unit, the lowest long-run total cost of producing one unit of output is
A. $8. B. $50. C. $60. D. $110.