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A teacher needs to grade 200 exams. She claims that exams require an average of 12 minutes to grade with a standard deviation of 3 minutes. A random sample of 36 exams is selected. Suppose the sample mean is 11 minutes. What is the probability that the sample mean will be less than or equal to 11 minutes if the actual sampling distribution mean equals 12 minutes?
Calculate the magnitude of the consumer surplus and producer surplus in the pre-tax equilibrium. Calculate the tax revenue in the post-tax equilibrium. Calculate the change in consumer surplus due to the sales tax. Calculate the magnitude of deadweig..
Because of the close co-movement between the budget deficit and the current account deficit, the two are often referred to as “twin deficits”. Explain in detail how an increase in the budget deficit that is due to an increase in government spending (..
Last year real GDP in the imaginary nation of Oceania was 561.0 billion and the population was 2.2 million. The year before, real GDP was 500.0 billion and the population was 2.0 million. What was the growth rate of real GDP per person during the yea..
The traditional mortgage amortization schedule specifies a monthly payment that is:
When the government requires specific processes for reducing pollution, it is using
Select a country of your liking (except the United States), and identify its key resources and major exports and imports. Decide whether the country’s trade pattern supports the Heckscher-Ohlin Theorem. Provide evidence to your findings. Make sure to..
q1. due to rising food costs our vending contractor royalle vending will implement a slight price increase on all
Suppose the own price elasticity of market demand for retail gasoline is -0.8, the Rothschild index is 0.5, and a typical gasoline retailer enjoys sales of $1,500,000 annually. What is the price elasticity of demand for a representative gasoline reta..
Now allow Foreign and Home to trade with each other, at zero transportation cost. Find out and draw a graph of equilibrium under free trade.
Illustrate what are the net benefits of this program. What would the net benefits be at a discount reate of 2 percent.
An essential issue in international business is determining which components to manufacture in-house and which to outsource to independent suppliers.
The data below represents the overall miles per gallon? (MPG) of 2008 SUVs priced under? $30,000. Construct a 95% confidence interval estimate for the population mean miles per gallon of 2008 SUVs priced under $30,000 assuming a normal distribution. ..
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