Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 398 Weeks Ago, 2 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 10 Oct 2017 My Price 5.00

combinations of goods

The notion of utility is an ‘‘ordinal’’ one for which it is assumed that people can rank combinations of goods as to their desirability, but that they cannot assign a unique numerical (cardinal) scale for the goods that quantifies ‘‘how much’’ one combination is preferred to another. For each of the following ranking systems, describe whether an ordinal or cardinal ranking is being used:

(a) military or academic ranks;

(b) prices of vintage wines;

(c) rankings of vintage wines by the French Wine Society;

(d) press rankings of the ‘‘Top Ten’’ football teams;

(e) results of the U.S. Open Golf Championships (in which players are ranked by the number of strokes they take);

(f) results of the U.S. Open Tennis Championships (which were conducted using a draw that matches players against one another until a final winner is found).

Answers

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Status NEW Posted 10 Oct 2017 09:10 PM My Price 5.00

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