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Law Incorporation [45]
3 years ago
14

There are 5 applicants for a job, all of whom have different qualifications. the employer is in a hurry, and does not interview

the applicants or check their references. 2 of the applicants are hired. what is the probability that the employer actually hired the 2 best applicants?
Business
1 answer:
Alenkinab [10]3 years ago
5 0
To choose the two best, we have a target of two candidates, A & B
The first one chosen is either A or B, with a propability of 2/5.
The second one is the only interested candidate out of 4, so 1/4.
So probability of choosing the best two is 2/5*1/4=1/10.

Alternatively, use the combination formula, 
P(AB in any order) = 5!/(2!3!)=120/(2*6)=1/10
or in general,
n choose r = nCr = n!/(r!(n-r)!)
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if a new poverty measure were calculated to include wealth (total debts subtracted from total assets), that new poverty measure
Rufina [12.5K]

If a new poverty measure were calculated to include wealth (total debts subtracted from total assets), that new poverty measure would reflect the fact that since the definition of poverty includes both wealth and income, it has taken on a two-dimensional form, meaning that different people with the same level of wealth may have different poverty levels. Similar to this, individuals with the same income level may have various levels of poverty.

Access to clean water, food, shelter, and clothing are examples of basic needs that can be used to gauge one's level of poverty. It has been proven that people can earn enough money to cover their basic needs but still spend it poorly.

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3 0
1 year ago
People are unlikely to buy Big Macs in the places where they are relatively cheap (according to purchasing power parity) and sel
Natali5045456 [20]

People will buy at places that are cheap and sell at more expensive prices because:

  • The transactions costs would be too high.
  • There's little resale market for used Big Macs.
  • They would be expensive to transport.
  • They're perishable.

<h3>What is transactions cost?</h3>

Transactions cost simply mean the expenses that are incurred when one buys or sells a particular product.

In this case, the above options are the reasons why people are unlikely to buy Big Macs in the places where they are relatively cheap according to purchasing power parity.

Learn more about transactions cost on:

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7 0
2 years ago
Rent is an example of a(n) _____.
faust18 [17]

Answer:

a. fixed cost

Explanation:

Rent is always negotiated and stated in the tenancy or lease agreement. The lease or tenancy agreement is reviewed either annually or after every two years. The rent amounts remain the same until the time a tenancy agreement is reviewed.

Fixed costs are the business expenses that remain the same throughout the financial period.  A business has to incur fixed costs as long as the business is operational. The level of business activity or output does not affect fixed costs. Rent is a good example of fixed costs. A business has the pay the same amount of rent regardless of its production level.

6 0
3 years ago
Read 2 more answers
Consider a two-step mortgage for $150,000, 30 years, monthly payments, an initial interest rate of 5%, a cap of 5%, and a single
gladu [14]

Answer:

Consider the following calculations

Explanation:

This 2-step mortgage problem requires a 2-step solution.

To solve for the PMT for the last 23 years of the loan, we first need to know what the principal is at the end of the 7th year.

Thus, step I uses the initial info to solve for the PMT for each month of the first 7 years. N=360, I/Y=5(%)/12 = 0.416667(%), PV=150,000, => PMT = 805.

The discount rate will change to 5% index rate plus 2% margin = 7% at the beginning of the 8th year.

In Step II we first determine the remaining balance at the end of year 7. This requires using the amortization worksheet.

On the TI BA II Plus, AMORT is the secondary function of PV.

Set P1, the periods at which the calculations begin, equal to 1. We cursor down to P2, which is the last period of the calculation, and set it equal to 84. Cursoring down once again, we see that BAL at month 84 = 131,917.52.  

Going back to the TVM row, we set PV remaining at the end of 23 years = 131,917.52. I/Y is calcluated as 5(%) index rate plus 2(%) margin =7%; dividing 7(%) by 12 = 0.583333(%).  N=360-84 = 276 months left.

Finally, we solve for PMT = 962.89.

7 0
3 years ago
Pleasant Hills Properties is developing a golf course subdivision that includes 250 home lots; 100 lots are golf course lots and
Goshia [24]

Answer:

The relevant multiple choices are as follows:

$1,920,000.

$720,000.

$1,620,800.

$1,579,200.

$1,080,000.

The correct answer is the third option which is $1,620,800.

Explanation:

Total joint costs=cost of land acquisition+cost of street and utilities improvement

cost of land acquisition=$1,800,000

cost of street and utilities improvement=$1,400,000

total joint costs=$1,800,000+$1,400,000=$3,200,000

sales  value of the golf course lots=100*$95,000=$9,500,000

sales value of street frontage lots=150*$65,000=$ 9,750,000

Total sales value =$9,500,000+$9,750,000=$ 19,250,000

joint costs to street frontage lots=$3,200,000*$9,750,000/$19,250,000.00

                                                     =$ 1,620,779.22  

The closest option is the third option above.

6 0
3 years ago
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