Newark liberty airport is a very busy airport. Continental airlines is one of the largest carriers at the airport. Their on-time rate is not bad but predicated on the weather. On a specific day the weather forecast is predicting snow conditions with probability of 25%, rain condition with 35% probability and cloudy but no precipitation with a 40% probability. If it snows there is an 83% probability the flight will be late, 75 % probability the flight is late if it rains and a 40% probability it is late under cloudy but no precipitation conditions. It is a rainy day, what is the probability the continental flight is late ?

21%
33%
41%
63%

The vaska company buys a patent on january 1, year one, and agrees to pay $100,000 per year for the next five years. the first payment is made immediately, and the payments are made on each january 1 thereafter. if a reasonable annual interest rate is 8 percent, what is the recorded value of the patent? 1. $378,4252. $431,2133. $468,9504. $500,000

Evaluate a real situation between two economic actors; it could be any scenario: two competing businesses, two countries in negotiations, two kids trading baseball cards, you and another person involved in an exchange or anything else. use game theory to analyze the situation and the outcome (or potential outcome). be sure to explain the incentives, benefits and risks each face.

Kendra knight took part in a friendly game of touch football. she had played before and was familiar with football. michael jewett was on her team. in the course of play, michael bumped into kendra and knocked her to the ground. he stepped on her hand, causing injury to a little finger that later required its amputation. she sued michael for damages. he defended on the ground that she had assumed the risk. kendra claimed that assumption of risk could not be raised as a defense because the state legislature had adopted the standard of comparative negligence. what happens if contributory negligence applies? what happens if the defense of comparative negligence applies?