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The Director of Admissions at Rutgers University is preparing a report for the New Jersey Department of Higher Education regarding the demographics for entering classes. The director wanted to estimate the age of students enrolled. The estimate must be within 1 year of the population. Assume that ages are normally distributed.
Determine the minimum sample size to construct a 90% confidence interval for the population mean. Assume the population standard deviation is 1.2 years.
Repeat (a) with a 99% confidence interval.
Which level of confidence requires a larger sample size? Explain.
Elucidate the price also quantity that maximizes the company's profit.
If he continued to work exactly as many hours as he did before the wage increase, how much more money would he have each day to spend on consumption?
Using this demand function, find the total revenue function. What is the shape of the total revenue function.
A consulting company estimated market demand and supply in a perfectly competitive industry and obtained the following results.
Provide an example of income effect and substitution effect in regards to supply of labour. Illustrate what is opportunity cost of work in this case
Under very high rates of inflation, why would people prefer to use a barter system to buy goods, rather than use paper money.
how will Kristine s consumption pattern and welfare be affected
determine the environmental variable most likely to affect the short-run production over the next 12 months. Determine what managers can do to prepare for the possible change in short-run production. Pick a real or fictitious business.
A recording company obtains the following information about the demand and production costs of its new.
If there were 2 million unemployed Thailand had a job-finding rate of 15% per month, how many people would lose jobs each month.
Assume that in 1984 the total output in a single-good economy was 7000 buckets of chicken.
Describe the long-term trends in inequality in the United States using the available measures. What are possible explanations for these long-term trends.
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