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Sample or Population?
1) Statistics 201 is a course taught at a university. Professor Rauch has taught nearly 1,500 students in the course over the past 5 years. You would like to know the average grade for the course.
2) Two chimpanzees chosen to carry out genetic research.
3) Weather reports for each day of a month in a city for a study on that city's weather during that particular month.
4) To find how many books are published in one week by a famous publishing company.
5) To test a new drug produced by a biotech company.
6) To find the number of men and women working in an IT company with 600 people.
7) To estimate the average salary of doctors in California.
Three main facts indicate that Microsoft enjoys monopoly power. First, Microsoft's share of the market for Intel-compatible PC operating system is extremely large and stable. Second, Microsoft's dominant market share is protected by high barrier to e..
An investor buys a 4.5% 20-year bond with a face value of $10000 for $11386.05. If the purchaser holds the bond to maturity, what is the effective annual ROR compounded semi-annually?
Historical data suggests that in the athletic shoe industry, the price elasticity for shoes is approximately -0.67. Explain what price elasticity is, and how to interpret the stated elasticity for athletic shoes of -0.67. Using the price of $100 and ..
Growth rates of per capita GDP: Compute the average annual growth rate of per capita GDP in the each of the cases below. The levels are provided for 1980 and 2010, measured in constant 2005 dollars.
Alternatives A and B require investments of $10310 and $13400, respectively. Their respective net annual cash inflows are $3300 and $4000. What is the rate of return for each alternative and for the incremental difference? if the interest rate is 1-%..
Explain how to construct and interpret a Lorenz curve for the distribution of income and wealth; discuss the factors that explain the distribution of income in the US and compare and contrast income inequality in US with other countries.
A monopolist faces two separate demand curves in two separate markets: P1 = 72 - 3Ql and P2 = 90 - 2Q2. The total cost curve is TC = 6 + 6Q. Find the price elasticities at the two profit maximizing points
Draw three graphs that shows a perfectly competitive firm in three stages of profit, loss, and break even. Explain the reason for each position the firm might have? Profit , Loss, Break-Even.
On 10 June 2015 CNN Money reported that a bird flu outbreak resulted in 35 million of the more than 300 million egg-laying birds in the country being killed. Which eggs demand and/or supply determinant(s) is/are affected? Price of good related in con..
The GenaCam Stores have two branches. Advertising is a major component of Cost of Goods Sold for each store. You have information on the range of advertising expenditures over a long period of time for each group of stores. Which of the two stores ha..
What would be the subsidy required to get Mr. Smith to perform the efficient amount of gardening? Now assume that Mr. Green, another neighbor, doesn't like the garden. He bears a marginal damage, which is given by MD(h)=2
A firm must decide whether to make a component part in-house or to contract it out to an independent supplier. Manufacturing the part requires a nonrecoverable investment in specialized assets. The most efficient suppliers are located in countries wi..
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