Commercial real estate prices and rental rates suffered substantial declines in 2008 and 2009. these declines were particularly severe in asia; annual lease rates in tokyo, hong kong, and singapore declined by 40% or more. even with such large declines, annual lease rates in asia were still higher than those in many cities in europe. annual lease rates for a sample of 30 commercial properties in hong kong showed a mean of 1,114 per square meter with a standard deviation of 230. annual lease rates for a sample of 40 commercial properties in paris showed a mean lease rate of 989 per square meter with a standard deviation of 195.

a. on the basis of the sample results, can we conclude that the mean annual lease rate is higher in hong kong than in paris?
b. develop appropriate null and alternative hypotheses. at the 5% level of significance, what is your conclusion?

For example, the upper right cell shows that if expresso advertises and beantown doesn't advertise, expresso will make a profit of $15 million, and beantown will make a profit of $2 million. assume this is a simultaneous game and that expresso and beantown are both profit-maximizing firms. if expresso decides to advertise, it will earn a profit of $ million if beantown advertises and a profit of $ million if beantown does not advertise. if expresso decides not to advertise, it will earn a profit of $ million if beantown advertises and a profit of $ million if beantown does not advertise. if beantown advertises, expresso makes a higher profit if it chooses . if beantown doesn't advertise, expresso makes a higher profit if it chooses . suppose that both firms start off not advertising. if the firms act independently, what strategies will they end up choosing? expresso will choose to advertise and beantown will choose not to advertise. expresso will choose not to advertise and beantown will choose to advertise. both firms will choose to advertise. both firms will choose not to advertise.