T. A repeat offender is in mm with the same judge from his previsrua mass. In the past the defendant has
beer: furund tn be either guilty cfw_'3 or not guilty cfw_N. If a judge is susceptible tn the bet hand fallacy,
and the prehabzillty of guilt in each
l. Suppoee you roll two dioe. Which pair of events helm.r is dependent.
a] Dland D2=4
h DI+D2=4and 32:1
3
e] Dl=1andD2=
d] D1+DZ=TendD2=5
17. Consider a. random Word that has a. length of 4 letters and can only have the BE lowereaee letters.
What. is the
3. You are watching the presidential debate, and trying to gure out whether the candidate is a liar cfw_L.
If the candidate is liar. then they tell the truth cfw_T 10% of the time and they lie cfw_F 90% of the time.
If they are not a liar, then they tell
4. How many combinations of birthdays are there for two individuals:
5. When looking at a large data set of used car auctions, there 1was a relatively large price difference between
cars that had 19999 miles was these that had sense. This large price diff
13. Consider the prefemnoes: I like peanut butter and jelly1 hot I only want them :in the ratio 2 units of
peanut butter for each 1 unit of jelly. Any additional beyond that ratio is not benecial to me. What
other point is on the same indifference curve a
13. What is the probability that out of 4 people, at least 2 of them have a birthday in the name month.
cfw_Assuming each month in equally likely to be born in.
_ 12x11x1><9
a] l rexrexrexre
14. Consider the two situations:
I Situation A. - Jacket for $12
2 Multiple Choice (3 points each, as points total)
1.
Which of the following is a descriptive claim:
a) People should osnsidsr opportunity costs.
b People sometimes overestimate oertain probabilities.
II
c] Peoples choises should not be aEected by adding
cfw_3:5
2. Consider the following value function for dollars:
cfw_-3,-9
[a] Calculate the value for the following points cfw_3,3,1.1,2.3. Plot thae points on the above
panel and draw a line through them to plot this value fmetion cfw_please clearly labe
1 Analytical Questions [as points eeeh, as points total
1. cfw_a Fbr each of the four lines helm:
i. Circle the type nf the etetementr either A cfw_axiom er D [denitinn.
ii. Circle the name of the statement: either C cfw_campletenesrs, l cfw_indifference.
9. Suppose you have $100 and good it costs $10 per unit and good B costs $25 per unit. If you have
preferences such that you are always willing to substitute 3 units of good A for 1 unit of good E and
vice versa. 1What is the rational choice?
1|]. In what