Three students work independently on a homework problem.
1 answer:
Answer:
a. 0.646
b. 0.0285
c. 0.0015
Step-by-step explanation:
Please refer to the tree diagram attached at the bottom of this answer.
a. Probability P of the three of them solving the problem:
P = P(A) · P(B) · P(C) = 0.95 · 0.85 · 0.80 = 0.646
b. Only the first one:
P = P(A) · (1-P(B)) · (1- P(C)) = 0.95 · 0.15 · 0.20 = 0.0285
c. None of them:
P = (1-P(A)) · (1-P(B)) · (1- P(C)) = 0.05 · 0.15 · 0.20 = 0.0015
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<u>Step-by-step explanation:</u>
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Answer:
The GDP gap is 9 % when there is 4.5 % unemployment.
Step-by-step explanation:
The statement shows a reverse relationship, where an increase in unemployment is following by decrease in potential GDP and can be translated into the following rate:
The GDP gap at a given increase in unemployment can be estimated by the following expression:
Where:
- GDP gap-unemployment increase rate, dimensionless.
- Increase in unemployment rate, measured in percentage.
- GDP gap, measured in percentage.
If and
, the GDP gap is:
The GDP gap is 9 % when there is 4.5 % unemployment.