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Please help with these 4 questions! You are in the market for a used car. At a used car lot, you know the blue book
Please help with these 4 questions!
You are in the market for a used car. At a used car lot, you know the blue book value for the type of cars that you are looking at ranging from $50k to $60k. If you believe the dealer knows as much as you do about the cars as you do, what are you willing to pay in \$s, assuming the car values are symmetrically distributed? Question 2 2 pts Referring to the information from the prior question: Now, you believe the dealer knows more about the cars than you do. What price will you ultimately be willing to pay for the car? Please answer in dollars. Prior Problem: You are in the market for a used car. At a used car lot, you know the blue book value for the type of cars you are looking at ranging from $50k to $60k. If you believe the dealer knows as much as you do about the cars as you do, what are you willing to pay in $s, assuming the car values are symmetrically distributed? You wish to hire Ricky to manage your new Chicago office. The profits will depend partially on how Ricky does his job. If Ricky is lazy, he will surf the internet and game with his friends all day - he views this as a $0 opportunity. However, if he works hard, he will view it as having a $12,000 personal cost. Assuming the outcomes shown in the probability table below, what percentage of profits should you offer Ricky to get his engaged behavior? Question 4 2 pts You own a house along a river that floods severely and destroys the house once every 20 years. If your house is worth $210k, what would be your annual insurance premium in dollars Step by Step Solution
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