GR521
NFTT 1
1) An advertising executive is studying television habits of married men and women
during prime time. Based on past viewing habits, he has determined that husbands are
watching television 60% of the time. It has also been determined that when

a) Suppose that P&P system is functioning as it had in the past
(i.e., average time, = 3.90, with a standard deviation, = 1.08).
Using the above decision rule, what is the probability that you will
incorrectly conclude that you have serious problems with

GR521
PART 2 DISTRIBUTIONS
AND STATISTICAL INFERENCE
1
To describe the outcome of a probabilistic or
statistical process, we define a
random variable
a numerical equivalent to a group of events
2
EXAMPLE:
We make 4 investments (S = success, F = failure)
L

Can Use the PPC to Explain
International Trade
Assume
Two countries
Two products
Output per worker is constant for all
workers and all levels of output
California wheat
5 tons per worker
vegetables
10 tons per worker
Kansaswheat
3 tons per worker
vegeta

GR 522
Instructor
Background reading
Office Hours
Grades
Two
exams
3 article analyses
Problem Sets
GR 522
Disabilities
Honor code
Dont
cheat!
ESOL Center
PowerPoint slides
Important
announcements will be
posted on Blackboard
Tentative schedule
Wh

GR 522
Fall 2016
John Leeth
Bentley University
Problem Set 2
Problems and Applications
Mankiw, pages 87-88 questions 3, 6, 8, 10, 11.
Key Terms Review
Write the key term next to its definition.
1.
:
an arrangement through which buyers and sellers
meet or

John Leeth
(781) 891-2029
Fax: (781) 891-2896
E-mail: jleeth@bentley.edu
177 Adamian Academic Center
Department of Economics
Bentley University
175 Forest Street
Waltham, MA 02452-4705
GR 522
Economic Environment of the Firm
Fall 2016
Course Goals
This co

LOTUS BLOSSOM HOTEL
The Lotus Blossom Hotel has a total of 300 rooms. Like
many hotels, and most major airlines, the Lotus Blossom Hotel has
adopted a policy of overbooking in an effort to maximize usage of
its available lodging capacity.
Past data indica

GR521
Fall, 2015
Professor Paul D. Berger
Office: Morison Hall, room 351
Tel: (cell) 617-974-5888
e-mail: pberger@bentley.edu
I. Overall Course Objective and Description:
The overall purpose of the course is to provide you
with some of the important tools