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1- How heavy a load (pounds) is needed to pull apart pieces of Douglas fir 4 inches long and 1.5 inches square? Here are data from students doing a laboratory exercise: a) We are willing to regard the wood pieces prepared for the lab session as an SRS of all similar pieces of Douglas fir. Engineers also commonly assume that characteristics of materials vary Normally. Make a graph to show the shape of the distribution for these data. Does it appear safe to assume that the Normality condition is satisfied? Suppose that the strength of pieces of wood like these follows a Normal distribution with standard deviation 3000 pounds. b) Give a 95% confidence interval for the mean load required to pull the wood apart. 2- Sulfur compounds cause "off-odors" in wine, so winemakers want to know the odor threshold, the lowest concentration of a compound that the human nose can detect. The odor threshold for dimethyl sulfide (DMS) in trained wine tasters is about 25 micrograms per liter of wine (μg/l). The untrained noses of consumers may be less sensitive, however. Here are the DMS odor thresholds for 10 untrained students: a) Assume that the standard deviation of the odor threshold for untrained noses is known to be σ = 7 μg/l. Briefly discuss the other two "simple conditions," using a stemplot to verify that the distribution is roughly symmetric with no outliers. b) Give a 95% confidence interval for the mean DMS odor threshold among all students. 3- Athletes performing in bright sunlight often smear black eye grease under their eyes to reduce glare. Does eye grease work? In one study, 16 student subjects took a test of sensitivity to contrast after = hours facing into bright sun, both with and without eye grease. This is a matched pairs design. Here are the differences in sensitivity, with eye grease minus without eye grease:9 We want to know whether eye grease increases sensitivity on the average. a) What are the null and alternative hypotheses? Say in words what mean μ your hypotheses concern. b) Suppose that the subjects are an SRS of all young people with normal vision, that contrast differences follow a Normal distribution in this population, and that the standard deviation of differences is = 0.22. Carry out a test of significance.
Suppose the information in the following table is for a simple economy that produces only the following four goods and services: textbooks, hamburgers, shirts, and cotton. Assume that all the cotton is used in the process of producion.what is the ..
Long-run real interest rates are expected to increase. An accountant and an MBA student (who just finished his course of Managerial Economics) where interviewed regarding the effect on the firm they both work at. Keeping all else constant, their answ..
you are starting your own internet business.nbspyou decide to form a company that will sell cookbooks online.
Does this production function exhibit constant, increasing, or decreasing returns to scale and find the marginal product of each factor and the marginal rate of technical substitution.
firms can operate in one or more markets and not always on the same side of the market. general motors is a buyer in
A natural monopoly, such as a local electricity provider, is the result of:
John Adams wrote in 1814, "Democracy never lasts long. It soon wastes, exhausts and murders itself. There never was a democracy yet that did not commit suicide."
ace and baumont corporations make and sell electrical equipment. both have to decide whether or not to discount. the
network externalities are often an important aspect of demand for information goods and services. (The benefits to customers of using software, participating in electronic markets, or using instant messaging increase with the number of other users..
What output will an individual firm be restricted if this price is to be maintained (assume all firms are permitted to produce the same level of output)?
What is the monopolist's total cost function?
Analyze the impact of the following changes on wages and employment in a given occupation:
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