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The National Collegiate Athletic Association (NCAA) reported that the mean number of hours spent per week on coaching and recruiting by college football assistant coaches during the season was 70. A random sample of 50 assistant coaches showed the sample mean to be 68.6 hours, with a standard deviation of 8.2 hours. 37.
a. Using the sample data, construct a 99 percent confidence interval for the population mean.
b. Does the 99 percent confidence interval include the value suggested by the NCAA? Interpret this result. Suppose you decided to switch from a 99 to a 95 percent confidence interval. Without performing any calculations, will the interval increase, decrease, or stay the same? Which of the values in the formula will change?
After 25 years, the level of GDP in the second country is more than 25% larger than that of the first country. Why? And what does this show of the importance of small differences in the rate of growth?
Illustrate what recommendations you make to assist the organization
In your professional, provide an example of supply and demand and how a shift in either caused a significant change in price or the quantity demanded.
Huntington suggests that the emerging global economy will increasingly be faced with violent clashes between civilizations. Elucidate what Huntington means by the term civilization and why such clashes may be expected.
Illustrate what is the short-run equilibrium real GDP and price level. Does Japan have an inflationary gap or a recessionary gap and what is its magnitude.
where L1 is the number of workers employed in Sector 1 and L2 is the number of workers employed in Sector 2. The total number of workers in the economy is 1,000. The only difference between the sectors is that in Sector 1 workers are paid their ma..
A firm in a competitive industry has marginal revenue which depends on the shape of the consumers' demand curve. In a competitive industry, the price elasticity of the aggregate industry supply curve will always be greater than or equal to the pric..
In 1929 and 1933, GDP measured in current prices fell from $96 billion to $48 billion. Over the same period, relevant price index fell from 100 to 75.
From this information, can you devise a general rule explaining how the Herfindahl-Hirschman index is affected when exactly two firms in the market merge? (Hint: compare a2 + b2 with (a + b) 2)
A Monopolist is deciding how to allocate output between two markets. The two markets are separated geographically. Demand and marginal revenue for the two markets are given by:
Assume the utility function is not the square root of income but instead, utility is linear in income.
Elucidate your own words why even long term heavy drinkers might be highly responsive to increases in the price of alcohol.
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