Suppose the demand for pizza is inelastic.  If a pizzeria decided to decrease the price of pizza, total revenue would _________.

Macroeconomics is the study of an individual consumer and producer decisions.

Asset fixity means an asset does not have many alternative uses.

The odds in favor of a team winning a championship are 8 to 3.  Find the probability of the team winning the championship. Write your answer as a fraction. The probability of winning a prize at a local charity event is 9/23.  What are the odds against winning a prize?      

A bag contains 4 blue and 7 red M&Ms.  You randomly select two M&Ms from the bag without replacement (you eat the M&Ms). Find the probability that the first is blue and the second is red.  Write your final answer as decimal, rounded to three decimal places.

You toss a coin 3 times.  Write out the sample space. Use the sample space to find the probability of getting at least 2 tails.    

Right now, show all of your work to the Honorlock proctor by holding up each piece of paper in front of your camera, that you intend to upload in Canvas after the exam.   Within 30 minutes after completing the​ exam, scan or take a picture of each paper containing relevant work and upload each under the appropriate test in the Canvas drop box attached to the study guide.  You do not need to upload your study notes.  ​By uploading your​ work, I am able to give partial credit on missed problems.  Some problems may require work to be shown for any credit.   ​Finally, please note that the automated grade for this test is NOT correct. I will be grading these exams by hand and providing feedback below the problems.  You may view this feedback by clicking on the test in Canvas Gradebook. It may take roughly one week after you take the exam to receive your official score.

The following table shows results from a polygraph test*.  Use this table to answer the following questions.  Unless indicated, leave your answers as fractions.  You do not need to simplify. Polygraph Test Accuracy Results Subject did not lie  Subject lied Polygraph test indicated a lie 15 42 Polygraph test indicated no lie 32 9 Find the probability that polygraph test was correct. Find the probability that the subject lied OR the polygraph test indicated a lie.  Find the probability that the subject lied AND the polygraph test indicated a lie.   Find the probability that the polygraph test indicated a lie, GIVEN that the subject lied. *Actual data from experiments out of Boise State University and the Department of Defense Polygraph Institute, as noted in Essentials of Statistics, Triola, 7th edition.

The accompanying tables give production possibilities data for Gamma and Sigma. All data are in tons.Gamma’s production possibilities ABCDETea1209060300Teapots 0306090120 Sigma’s production possibilities ABCDETea403020100Teapots 0306090120 On the basis of this information,

A 40 week pregnant client is being monitored in the OB triage room. She complains of shortness of breath, chest pain, dyspnea, and restlessness. The client grabs her chest and becomes severely short of breath and then becomes unresponsive.  Select all of the interventions below that should be prioritized by the nurse and healthcare providers? Select All that apply