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"Can Economic Theory Explain Piracy Behavior?," published online in 2003 by Berkeley Electronic Press, reports results for the survey question, "Assume that your friend has a computer program that is priced in retail stores at ______ and that you are very anxious to get. Assume also that you are offered to copy your friend's program for free. What is the maximum amount you would be willing to pay for the program in a retail store under these circumstances? I would be willing to pay ______."9
a. Explain why the values of the variable of interest (NWTPO net willingness to pay for the original) were measured via survey rather than an observational study or an experiment.
b. Can we assume that the reported values of NWTPO are fairly close to what they are "in real life"? Explain.
c. Another survey question asked, "How large a share of your collection of music is illegally copied?" with response options 0-25%, 26-50%, 51-75%, or 76-100%. What are the advantages to permitting four specific ranges of percentages, instead of phrasing it as an open question?
d. Should results for the question described in part (c) be summarized with a mean or with proportions? Explain.
The City Transit Authority plans to hire 8 new bus drivers. From the group of 100 qualified applicants, of whom 55 are men and 45 are women, 8 names are to be selected by lot. Suppose that Mary and John Lewis are among the 100 qualified applicants..
1. How does the denominator of the F-ratio (the error term) differ for a repeated-measures ANOVA com- pared to an independent-measures ANOVA?
Before giving the denition of the binomial probability distribution, try to derive it by using the sample-point approach. How?
If WH is implicated, the firm may face a reputation loss even if no lawsuit is filed. For what values of that reputation loss would issuing the recall be preferable, in terms of EMV?
What is the probability that a randomly chosen store is either closing or Kwik Save? Find the probability that a randomly selected store is not closing given that it is a Somerfield.
Calculate the correlation coefficient between the two variables
In May 2009, a GFK Roper poll asked Americans about their preferences about attending a wedding based on the food being served, given a set of choices.
Requires you to submit a resource management strategy which provides details on how the efficiency of each asset is monitored and communicated, as well as the specialist advice you could seek if an asset underperforms, becomes non-compliant, or ex..
He finds their mean weight to be 17.78 ounces with a standard deviation of 0.4 ounces. Are the cereal boxes lighter than they should be? Let α = 0.01.
Historical records of sewer pipe failures in an old city show that during the period 2005 to 2013, there were 30 failures that were catastrophic (exploded due to the build-up of methane or other gases). Assuming that the pipe failures follow a Po..
SEAT-BELT COMPLIANCE Data compiled by the Highway Patrol Department regarding the use of seat belts by drivers in a certain area after the passage.
What are the mean and standard deviation of the proportions of random samples of 400 motorcylce owners who own Harleys?
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