An office complex leases space to various companies. these leases include energy costs associated with heating during the winter. to anticipate costs in the coming year, the managers developed two random variables x and y to describe costs for equivalent amounts of heating oil (x) and natural gas (y) in the coming year. both x and y are measured in dollars per btu of heat produced. the complex uses both fuels for heating, with yσx=σy.
(a) if managers believe that costs for both fuels tend to rise and fall together, then they should model x and y as independent.
(b) because the means and sds of these random variables are the same, the random variables x and y are identically distributed.
(c) if told that the costs of heating oil and natural gas are uncorrelated, an analyst should then treat the joint distribution as p(x, y)=p(x)p(y).
ummm if i am not mistaking i believe its mostly true
hope this !
the answer to the blank space in the question is a reaction time task.
a reaction time task measures an individual’s basic cognitive processes of perception and ability to respond based on what she or he perceives. whack-a-mole is a great example of this since the individual has to process what he or she sees (the mole) and immediately responds by hitting the mole with the hammer. an individual with a good perceptual speed and response time would be good in this game.
the price of gala apples rises from $5 per pound to $10 per pound. as a result, the quantity demanded falls from 10 million pounds to 5 million pounds. what is the arc own-price elasticity of demand?