3. Think about you benefit from food. Let c be the market value of the amount...
3. Think about you benefit from food. Let c be the market value of the amount of food you have in a given day and u(c) the utility from consuming c.
(c) You are offered the choice between (A) $150 dollars worth of food for the week (B) 50% chance that you get $600 worth of food for the week and 50% you get $0 worth of food for the week.
If this is the only source of food (e.g. if you are unlucky and get $0 worth of food for the week you literally get no food for the week), then which option do you prefer
Homework Answers
Expected value of food with uncertainty = $600 x 50% + $0 x 50% = $300 + $0 = $300
So expected value is higher than the certainty value ($300 > $150).
Since food is a necessity for me, I cannot live without food if the 50% probability of not getting any food is realized. Therefore I am absolutely risk-averse, and will decide to have a lower certainty value of food than higher expected value with uncertainty.
So I would prefer option (A).
Add Answer to:
3. Think about you benefit from food. Let c be the market value
of the amount...
3. Think about you benefit from food. Let c be the market value of the amount...
3. Think about you benefit from food. Let c be the market value of the amount of food you have in a given day and u(c) the utility from consuming c. (a) Plot u(c) (utility on the y axis, consumption on the x axis). Explain why it is the shape it is. (b) If you have enough money to consume C in a week, how much would you spend each day? Is this consistent with your plot? (c) You are...
3. Think about you benefit from food. Let c be the market value of the amount...
3. Think about you benefit from food. Let c be the market value of the amount of food you have in a given day and u(c) the utility from consuming c. (B) If you have enough money to consume C in a week, how much would you spend each day? Is this consistent with your plot?
3. Think about you benefit from food. Let c be the market value of the amount...
3. Think about you benefit from food. Let c be the market value of the amount of food you have in a given day and u(c) the utility from consuming c. (a) Plot u(c) (utility on the y axis, consumption on the x axis). Explain why it is the shape it is.
a. When the value of the Pound rose from about 1.248 Dollars/Pounds on June 24, 2020...
a. When the value of the Pound rose from about 1.248
Dollars/Pounds on June 24, 2020 to 1.289 Dollars/Pound on September
21, 2020, by how much did the value of your buildings (calculated
in US dollars and in %) change?
b. You are concerned that poor management by the UK Government
of COVID 19 could pull down real estate prices as the pandemic
continues and the economy suffers. You are also worried that the UK
Government will take a hard...
Real options problems 2. You just finished a week of heli-skiing and had such a good...
Real options problems 2. You just finished a week of heli-skiing and had such a good time that you want to go again next year. Plus, the heli-ski outfit is offering the following deal: If you pay for your vacation now, you can get a week of heli-skiing for $2,500. However, if you cannot ski because the helicopters cannot fly due to bad weather, there is no snow or you get sick, you do not get a refund. There is...
Given the economic impact of COVID, the food pantry is receiving requests from more and more...
Given the economic impact of COVID, the food pantry is receiving
requests from more and more clients for food assistance. If the
food pantry decides to ignore individual food categories, and
instead just give each client 16 items of food, how many total
clients per day can the pantry serve?
To combat hunger, food pantries serve individuals in need of food assistance (referred to as 'clients'), with a balanced and healthy selection of food items that they source from food...
Think about your personal budget. How different do you think it is from a company budget? Understanding the diff...
Think about your personal budget. How different do you think it is from a company budget? Understanding the different components outlined in a company budget, in addition to the order of completion, helps a business owner, professional, and/or student set reasonable and attainable goals. Budgeting is considered a benchmark document that is pertinent to setting goals and answering questions. Read the following scenario and complete the questions posed below. Scenario Don Flowers, owner of VGTBLS (pronounced Vegetables), has three food...
Have you ever considered how we come to understand the world around us? Think about that question for a minute. What is...
Have you ever considered how we come to understand the world around us? Think about that question for a minute. What is science, and how do we use it to solve real-world problems? In our first discussion, I want to delve into thinking about the nature of biology. This includes what it is, the major themes, and how we come to form claims or knowledge. You should spend approximately 3 hours on this assignment. Instructions Use the text readings and...
SOLVE USING C!!! Project objective: Conditional statements, loops, reading from file, user defined functions. **Submit source...
SOLVE USING C!!!
Project objective: Conditional statements,
loops, reading from file, user defined functions.
**Submit source code (LargeProg1.c) through
Canvas
One source code file(unformatted text) will be submitted
Here is INCOMPLETE code to get started: LargeProg1.c
The file name must match the assignment
The code should be tested and run on a Microsoft compiler
before it is uploaded onto Canvas
The code must be submitted on time in order to receive credit
(11:59PM on the due date)
Late submissions will...
C++ Question Question 3 [43] The Question: You are required to write a program for an...
C++ Question
Question 3 [43] The Question: You are required to write a program for an Online Tutoring Centre to determine the weekly rate depending on the number of sessions the students attend and then to calculate total revenue for the center. The Online Tutoring Centre charges varying weekly rates depending on the on grade of the student and number of sessions per week the student attends as shown in Table 1 below. Grade 8 9 Session 1 75 80...
a. When the value of the Pound rose from about 1.248
Dollars/Pounds on June 24, 2020 to 1.289 Dollars/Pound on September
21, 2020, by how much did the value of your buildings (calculated
in US dollars and in %) change?
b. You are concerned that poor management by the UK Government
of COVID 19 could pull down real estate prices as the pandemic
continues and the economy suffers. You are also worried that the UK
Government will take a hard...
Real options problems 2. You just finished a week of heli-skiing and had such a good time that you want to go again next year. Plus, the heli-ski outfit is offering the following deal: If you pay for your vacation now, you can get a week of heli-skiing for $2,500. However, if you cannot ski because the helicopters cannot fly due to bad weather, there is no snow or you get sick, you do not get a refund. There is...
Given the economic impact of COVID, the food pantry is receiving
requests from more and more clients for food assistance. If the
food pantry decides to ignore individual food categories, and
instead just give each client 16 items of food, how many total
clients per day can the pantry serve?
To combat hunger, food pantries serve individuals in need of food assistance (referred to as 'clients'), with a balanced and healthy selection of food items that they source from food...
Think about your personal budget. How different do you think it is from a company budget? Understanding the different components outlined in a company budget, in addition to the order of completion, helps a business owner, professional, and/or student set reasonable and attainable goals. Budgeting is considered a benchmark document that is pertinent to setting goals and answering questions. Read the following scenario and complete the questions posed below. Scenario Don Flowers, owner of VGTBLS (pronounced Vegetables), has three food...
SOLVE USING C!!!
Project objective: Conditional statements,
loops, reading from file, user defined functions.
**Submit source code (LargeProg1.c) through
Canvas
One source code file(unformatted text) will be submitted
Here is INCOMPLETE code to get started: LargeProg1.c
The file name must match the assignment
The code should be tested and run on a Microsoft compiler
before it is uploaded onto Canvas
The code must be submitted on time in order to receive credit
(11:59PM on the due date)
Late submissions will...
C++ Question
Question 3 [43] The Question: You are required to write a program for an Online Tutoring Centre to determine the weekly rate depending on the number of sessions the students attend and then to calculate total revenue for the center. The Online Tutoring Centre charges varying weekly rates depending on the on grade of the student and number of sessions per week the student attends as shown in Table 1 below. Grade 8 9 Session 1 75 80...
Most questions answered within 3 hours.
-
People are most likely to believe their ancestors play an active
role in their lives in...
asked 51 seconds from now -
A speeding car is traveling along a straight road with a
constant speed of 100 km/hour....
asked 16 minutes ago -
When 60.1 gg of calcium is reacted with nitrogen gas, 31.7 gg of
calcium nitride is...
asked 21 minutes ago -
The random variable X is exponentially distributed, where X
represents the time it takes for a...
asked 36 minutes ago -
a) Write a verilog module for 1:4 Demultiplexer using verilog
primitives.
b) Design 1-to-4 DEMUX using...
asked 31 minutes ago -
MATLAB
write a MATLAB function (1) output a third-order polynomial
function with the coefficients as the...
asked 43 minutes ago -
A z-score
communicates a raw score’s "relative standing"
under the normal curve in relation to:
asked 52 minutes ago -
An object is vibrating on a spring with the following equation
of motion:
?=(30 ??)cos((2?)/(160)?)
a)...
asked 51 minutes ago -
Vulcan Flyovers offers scenic overflights of Mount St. Helens,
the volcano in Washington State that explosively...
asked 54 minutes ago -
If organizations do not adapt fast enough and move incrementally
from the twentieth-century model to the...
asked 55 minutes ago -
A helium balloon with 2.5L of gas has a gauge pressure of 10,000
Pa. The balloon...
asked 59 minutes ago -
What is responsible for Jupiter's enormous magnetic field?
asked 1 hour ago