The Mineco company owns a rare-earth element ore. If the land has ore and Mineco digs a mine they will make $1,000,000 profit. If the land does not have ore and Mineco digs Alternatively, the land could be sold for $400,000. A geologist has estimated that there is a 65% chance that the land contains ore. piece of land that may have a significant amount of recoverable ww. a mine they will lose $500,000 (5 points) Fill in the payoff table for this decision problem. There should be an entry in every box in the table below. a. State of Nature Alternative Prior Probability
b. Under the maximin decision criterion what should Mineco do?
c. Under the maximum likelihood criterion what should Mineco do?
d. Under Bayes' decision rule, what should Mineco do?
e. If Mineco is using Bayes decision rule,, what is the Expected Value of Perfect Information for this problem?

Which of the following best describes the economic effect that results when the government increases interest rates and restricts the lending of money? a. borrowing money becomes more expensive and there is less investment in production. b. the economy grows as investments result in larger profits. c. government spending drives up prices because of greater competition for goods and services. d. consumers save more money and spend less buying goods and services.

Select the statement that indicates tina's company is a partnership. tina jones is a dancer specializing in latin dance styles. she always wanted to have her own dance studio where she could teach dancing to young and old alike. in 2006, she opened her first dance studio, electric diva, in madison triangle. it was a great choice as a business location because it's well-connected by highways to most places in the city. she leased the space for three years. her initial investment included a good sound system, cheerful interior design, and strong flooring. to raise capital for the business, tina turned to her brother-in-law, philip. philip made half the financial investment. he manages the accounts and social media needs of the business. he has a 30% share in trisha's business. together, they expanded the business to three dance studios in the city and plan to open franchises in other cities.

Cool beans is a locally owned coffee shop that competes with two large coffee chains, planeteuro and frothies. alicia, the owner, hired two students to count the number of customers that entered each of the coffee shops to estimate what percent of people who are interested in coffee are visiting each shop. after a week, the students found the following results: 589 visited cool beans, 839 visited planeteuro, and 1,290 visited frothies. the students were surprised that cool beans had 139 visits on monday which represented 59% of all people who visited one of the three coffee shops on mondays. how many people visited one of the three coffee shops during the week?