Assume that Pottery Barn decides to adjust their price sligh…

Assume that Pottery Barn decides to adjust their price slightly a few months from now by increasing the current price (found in the table just below the scenario text) by $225.  In response, assume that demand for their sofas decreased by 4 units during that month from their original monthly unit sales (also in the table just below the scenario text).  Based on all of this information, calculate the price elasticity of demand for these sofas.    As a summary: Old Price = $975; New Price = $1,200 Old Quantity = 32; New Quantity = 28

This is a problem about calculating the probability that a r…

This is a problem about calculating the probability that a random variable is in a given interval. The PDF is specified up to a constant. More explicitly, we have a continuous random variable with pdf that is a constant from 0 to [x], and the pdf is zero elsewhere. What is the probability that this random variable is between [a] and [b]?

“‘A house divided against itself cannot stand.’ I believe th…

“‘A house divided against itself cannot stand.’ I believe this government cannot endure, permanently, half slave and half free. I do not expect the Union to be dissolved; I do not expect the house to fall; but I do expect it will cease to be divided. It will become all one thing, or all the other. Either the opponents of slavery will arrest the further spread of it and place it where the public mind shall rest in the belief that it is in the course of ultimate extinction, or its advocates will push it forward till it shall become alike lawful in all the states, old as well as new, North as well as South.”                                                                               Abraham Lincoln, “A House Divided” speech, 1858   The compromise made in the Kansas-Nebraska Act served to increase sectional tensions by    

“Americans faced an overwhelming task after the Civil War an…

“Americans faced an overwhelming task after the Civil War and emancipation: how to understand the tangled relationship between two profound ideas – healing and justice…These two aims are never developed in historical balance. One might conclude that this imbalance between outcomes of sectional healing and racial justice was simply America’s inevitable historical condition…But theories of inevitability…are rarely satisfying…The sectional reunion after so horrible a civil war was a political triumph by the late nineteenth century, but it could not have been achieved without the resubjugation of many of those people whom the war had freed from centuries of bondage. This is the tragedy lingering on the margins and infesting the heart of American history from Appomattox to World War I.” David W. Blight, historian, Race and Reunion: The Civil War in American Memory, 2001   Which of the following most directly supports Blight’s argument in the excerpt?