Question: A witness testifies that the taxicab that struck and injured
A witness testifies that the taxicab that struck and injured Smith in a dark alley was green. On investigation, the attorney for Green Taxi Company discovers that the witness identifies the correct color of a taxi in a dark alley 80 percent of the time. There are two taxi companies in town, Green and Blue. Green operates 15 percent of all local taxis. The law says that Green Taxi Company is liable for Smith’s injuries if and only if the probability that it caused them is greater than 0.5. Is Green liable? Explain.
Answer to relevant QuestionsLast week your travel agent called to tell you that she had found a great fare, $667, for your trip to the United Kingdom later this month. This fare was almost $400 below the APEX (advance purchase excursion) fare. You told ...In the fall, Crusoe puts 50 coconuts from his harvest into a cave just before a family of bears goes in to hibernate. As a result, he is unable to get the coco-nuts out before the bears emerge the following spring. Coconuts ...Suppose capital is fixed at 4 units in the production function Q = KL. Draw the total, marginal, and average product curves for the labor input.The average number of yards gained by a college football team on a passing play is 8 - 12r, where r is the fraction of their total plays that are running plays. Their average gain per running play is 10 - 8r. What is their ...A firm finds that no matter how much output it produces and no matter how input prices vary, it always minimizes its costs by buying half as many units of capital as of labor. Draw this firm’s isoquant map.
Post your question