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Periodically, Merrill Lynch surveys its customers to determine customer satisfaction levels. They want to determine the impact of experience on the satisfaction ratings of their consultants. The following are samples of survey ratings for two consultants:
Consultant A Consultant B
n 16 10
mean 6.82 6.25
s .64 .75
Test the assumption that Consultant A has higher satisfaction ratings at the 5% significance level. Show all steps.
Problem: i) What is meant by ‘own' price elasticity of demand? What factors are likely to affect the size of this elasticity? ii) A publicly owned bus line is running at
Two consumers John and grayson like to transfer songs to their phones from jose phone the table represents their willingness to pay and jose willingness to accept for each download
Uses of population census: It is used to determine the size and the growth rate of the population at a country. The helps the government in planning for education, transporta
describe returns to scale and give examples of each.
Income and Substitution Effects: Normal Good * The Special Case--The Giffen Good - The income effect may be large enough theoretically to cause the demand c
Solve equation P=200-Qs and Qs=4.5p +5
Critique on Earmarking Studying the working of earmarking in many OECD (organisation of economic cooperation and development) countries, Potter and Diamond (1999) pointed out
income=100 price of x=5 price of x2=10 find consumer equilibrium with diagram
The question states that a hotel charges $60 a night for a room per night during off peak. This hotel has a fixed cost of $75 per night and variable costs of $40 per night (only ap
Hotel rooms go for $100/room and sell 1000/day; if taxed at $10/room and rate goes to $108 and 900 rooms are sold, what''s the tax revenue and dead weight loss?
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