Theory of Demand Q. Distinguish between a normal goods & an inferior goods. Give examples in each case. Ans. Normal Goods are those in case of which a positive relationship between income & quantity demanded. Other things remains constant‚ quantity demanded increase in response to increase in income & vice versa. Inferior Goods are those in case of which there is negative relationship between income & quantity demanded. Other things remains constant‚ quantity demanded decreases
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Conflict theory cannot be fully introduced without defining two views social theorists have argued about for many years. The first is the consensus perspective. Consensus theorists state that society has a consensus of values among it members. This perspective puts a lot of emphasis on the state stating that it is organized to protect the interests of the general public‚ and has the duty to intervene when groups have differing views. The state is the representative of the general public’s values
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You say that the probability of heads in a coin toss is 12 because you have no reason for thinking either heads or tails more likely you might change your view if you knew that the owner of the coin was a magician or a con man. But we cant build a theory on something subjective. We regard probability as a mathematical construction satisfying some axioms (devised by the Russian mathematician A. N. Kolmogorov). We develop ways of doing calculations with probability‚ so that (for example) we can calculate
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Appendix D Additional problems D.1 Probability theory (Chapter 2-3) (i) If X is a uniform‚ continuous random variable on the interval [a‚ b] and Y is a uniform‚ discrete random variable on the interval [k‚ l] where k and l are integers and k < l‚ then compute Pr [Z ≤ x] where Z = X + Y given that X and Y are independent. (ii) Suppose that the number N of pages in a fax transmission has a geometric probability distribution with mean 1/q = 4. The number K of bits per page also has a geometric
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MATH1081 Discrete Mathematics T. Britz/D. Chan/D. Trenerry §5 Graph Theory Loosely speaking‚ a graph is a set of dots and dot-connecting lines. The dots are called vertices and the lines are called edges. Formally‚ a (finite) graph G consists of A finite set V whose elements are called the vertices of G; A finite set E whose elements are called the edges of G; A function that assigns to each edge e ∈ E an unordered pair of vertices called the endpoints of e. This function is called the edge-endpoint
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1. The theory of intersectionality was created by Patricia Hill Collins and Kimberlé Crenshaw‚ and posited that the various aspects of a woman’s identity all intersect rather than existing in a vacuum; race‚ class‚ gender‚ sexual orientation‚ etc.‚ all combine to influence a person’s life‚ opportunities‚ successes and lack thereof – and should‚ as such‚ not be treated as mutually exclusive entities (Cocarla‚ “Feminist Popular Culture Theory”). That may seem like a lot to break down‚ but considering
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In modern organizations‚ there is no need for Theory X elements as propounded by Douglas McGregor. Discuss with relevant examples. Douglas McGregor examined theories on behaviour of individuals and formulated two models which he calls Theory X and Theory Y. Theory X assumes that the average human being has an inherent dislike for work and will avoid it if he can. As A result of their dislike for work‚ most people must be controlled and threatened before they will work hard enough. The
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Workbook for Game Theory and Political Economy1 Martin Gregor IES‚ Charles University in Prague January 23‚ 2012 set of sample exercises has been created for the undergraduate course JEB064 Game Theory and Political Economy given by Martin Gregor at IES‚ Charles University‚ Prague. Each exercise includes a full solution. The workbook is a work in permanent construction. Any comment is more than welcome. 1 This 2 Contents 1 Essentials in game theory 1.1 Centipede game (Rasmusen 2007)
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of different perspectives can be seen between structural functionalists and conflict theorists. Structural Functionalism focuses on harmony within society. If there is a lack of harmony then society itself is distressed and out of order. Conflict Theory‚ however‚ is concerned with that society is in constant conflict. Whereas‚ for the structural functionalist‚ when society is not in a state of harmony within its established norms‚ or is in a state of anomie‚ society will adjust or evolve to reestablish
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Week Four Discussion 2 1. In your own words‚ describe two main differences between classical and empirical probabilities. The differences between classical and empirical probabilities are that classical assumes that all outcomes are likely to occur‚ while empirical involves actually physically observing and collecting the information. 2. Gather coins you find around your home or in your pocket or purse. You will need an even number of coins (any denomination) between 16 and 30. You do not
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