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The file movie prices contains the price for two movie tickets, with online service charges, large popcorn, and two medium soft drinks at a sample of six theater chains: $36.15, $31.00, $35.05, $40.25, $33.75, $43.00
a. Construct a 95% confidence interval estimate for the population mean price for two movie tickets, with online service charges, large popcorn, and two medium soft drinks, assuming a normal distribution.
b. Interpret the interval constructed in (a).
Job Changes: A sociologist is interested in the relation between x = number of job changes and y = annual salary (in thousands of dollars) for people living in the Nashville area. A random sample of 10 people employed in Nashville provided the fol..
Assume that the companies in an oligopolistic market engage in a price war and, as a result, all companies earn lower profits. Game theory would describe this as what?
For a class activity, your group has been assigned the task of generating a quiz question that requires use of formula for conditional probability to compute P(B/A).
In a Gallop poll of 1012 randomly selected adults, 9% said that cloning of humans should be allowed. We are going to use a .05 significance level to test the claim that less than 10% of all adults say that cloning of humans should be allowed. The ..
While grading in a final exam, an economics professor found that two students have virtually identical answers. She is convinced two cheated but cannot prove it.
Assume you are one of two manufactures of tennis balls. Both you and your competitor have zero marginal costs. Total demand for tennis balls is
You have observed the following returns over time. Suppose that the risk free rate is 6 percent and the market risk premium is 5 percent.
Barbara and Juanita, Two basketball players, are best offensive players of the school's team. They know if they work together offensively-feeding the ball to each other,
The time between surface nish problems in a galvanizing process is exponentially distributed with a mean of 40 hours. A single plant operates three galvanizing lines that are assumed to operate independently.
Little Kona is a small coffee corporation that is planning entering a market dominated through Big Brew. Each corporation's profit depends on whether Little Kona enters and whether Big Brew sets a high price or a low price.
A light-bulb manufacturer advertises that the average life for its light bulbs 900 hours. A random sample of 10 of its light bulbs resulted in the following lives in hours. At the 10% significance level, do the data provide evidence that the mean ..
Advanced Micro Devices declared a 10 percent price raise for certain advanced microprocessors, used primarily in video games. The processors will sell for about $1,000 compared to Intel's $950 price.
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