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A random sample of 78 eighth grade? students' scores on a national mathematics assessment test has a mean score of 262. This test result prompts a state school administrator to declare that the mean score for the? state's eighth graders on this exam is more than 260. Assume that the population standard deviation is 34. At alpha α equals =0.06?, is there enough evidence to support the? administrator's claim?
Find the standardized test statistic? z, and its corresponding area.
Suppose that Home and Foreign consumers have the same preferences over these two goods, and they are represented by the following utility function: U(Qc, Qw) = Qc ^1/3 Qw ^2/3. Graph the consumer budget line of the Home country and add indifference c..
Suppose that the market for alcohol in a large metropolitan area, the local government is concerned about the number of DUI’s and has decided to impose a sin tax on alcohol sales. If demand in this market is inelastic and supply is elastic, what woul..
What is inflation? What are the causes of inflation? Is inflation desirable and what can be done to control inflation in a market economy? What is the Consumer Price Index (CPI)? How has the CPI behaved since the year 2000? What have been the caus..
Suppose that the total revenue received by a company selling basketballs is $840 when the price is set at $30 per basketball and $840 when the price is set at $20 per basketball. Without using the midpoint formula, identify whether demand is elastic,..
What do you think will happen to the price and quantity of DVDplayers. What is the difference between economies of scale and economies of scope? Provide examples for each of them (one example for each of them will be sufficient)?
What would happen if no one tried to manage the business cycle? What role do you see for the Executive Branch of the U.S. government in managing the business cycle? How does fiscal policy work? What are its limitations? How does monetary policy work?..
explain why the tax would be placed on gasoline rather than, say yachts. Illustrate what might be the long run effect of raising the price of gas.
State whether each of the following events will result in a movement along the market demand curve for labor in electronics factories in China or whether it will cause the market demand curve for labor to shift. If the demand curve shifts, indicate w..
Today’s urban transportation planning process is being impacted by the President’s Stimulus Plan. High speed rail is one such option to congestion along the highways of urban areas. These projects have two sides to them. Discuss how this Stimulus Pla..
You are being asked by your company to take a performance review system created in the US to your branch offices in Japan, China and Thailand.
Promoters of a major college basketball tournament estimate that the demand for tickets on the part of adults is given by Qad = 5,000 ? 10P, and that the demand for tickets on the part of students is given by Qst= 10,000 ? 100P. The promoters wish to..
A more serious problem with input-based pay systems (e.g., a wage her hour), relative to an output--based system, is:
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