suppose some flips a fair coin until a head occurs. Let Ak = event that the first head appears on
the kth flip. Find P(Ak)
Solution
this is geometric distribution
since kth is head
k-1 are tails thus
P(Ak) = (1/2)^k-1 (1/2) = (1/2)^k
thus ans.
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Suppose someone else tells you that even if average real wages or av.pdf
1. Suppose someone else tells you that even if average real wages or average real compensation per
hour increase, economic inequality could increase as well. Is this possible? To judge that overall
prospects for a mation, what information might you want to have in addition to a measure of
expected labor productivity growth?
Solution
Ans : Taken at face value, the picture suggests something is seriously amiss. On average workers
are producing considerably more, yet most workers have little to show for it. Where is the rest of
the income generated by increased productivity going?