An urn initially contains 2 balls, one of which is red and the other blue. At each stage a ball is randomly selected. If the selected ball is red, then it is replaced with a red ball with probability .7 or with a blue ball with probability .3; if the selected ball is blue, then it is equally likely to be replaced by either a red or blue ball. Tet X, equal 1 if the nth ball selected is red, and let it equal 0 other- ise Is {X,,n> 1} a Markov chain?

At the end of the current year, accounts receivable has a balance of $550,000; allowance for doubtful accounts has a credit balance of $5,500; and sales for the year total $2,500,000. an analysis of receivables estimates uncollectible receivables as $25,000. determine the net realizable value of accounts receivable after adjustment. (hint: determine the amount of the adjusting entry for bad debt expense and the adjusted balance of allowance of doubtful accounts.)

Which best describes what financial planning skills ultimately enable an individual to do? to prepare for the future to determine lifetime income to determine the cost of living to learn from the past

If airlines do not change their prices how else might they try to compete with each other?