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A survey of 500 adults found that 195 would take more vacations this year than last year.
Construct a 95% confidence interval for the true proportion.
Sheryl spends all her leisure time and all her money on sailing. She doesn’t value leisure time if she can’t sail, and she can only sail if she has leisure time. Sailboat rentals cost $10 per hour, and Sheryl earns W per hour. How many hours will she..
Suppose there is an early freeze in California that reduces the size of the lemon crop. Elucidate what happens to consumer surplus in the market for lemons.
Calculating savings using the goods market equilibrium. Assume a closed economy (NX = 0). Suppose net taxes are $100 billion. Government spending is $125 billion. Investment is $50 billion and consumption is $100 billion. Calculate public savings, pr..
“In a situation of increasing opportunity costs, trade can be beneficial to both countries if they have identical tastes. However, trade cannot be beneficial to either country if the countries have identical PPFs” Is this statement correct of incorre..
The following data has been collected about Keller Company's stockholders' equity accounts: Common stock $10 par value 21,000 shares authorized and 10,500 shares issued, 1,100 shares outstanding $105,000 Paid-in-capital in excess of par value, common..
The average annual cost of automobile insurance is $687. Use this value as the population mean and assume that the population standard deviation is $230. Consider a sample of 121 automobile insurance policies. What is the probability that the sample ..
Suppose the government implements a policy that makes people to invest more time in human capital accumulation.
Eastern Hydra system which is manufacturing motorcycle engine budgeted 75,000 per year to pay for certain parts over the next 5 years. If the company expects to spend 15,000 in year 1, how much of uniform increase each year is the company expecting i..
What is the different between interpretation of coefficient in SLRM and MLRM? How does it relate to omitted variable bias? How about a linear versus nonlinear multiple regression model coefficients? (quadratic). What is the role of controls?
Find the equilibrium price and quantity and graph the demand and supply curves. Measure the consumer, producer and total surplus for the economy. Explain the concept of welfare economics in general and in particular discuss the efficiency of the mark..
Using any relevant information below, calculate GDP via the expenditure approach. Nominal GDP in Nowhereland in 2002 and 2003 increased from $4 trillion to $4.8 trillion. Can you say that the production of goods and services in Nowhereland has increa..
The reproduction function for a certain North American species of duck is estimated to be f(p) = −.02p^2 + 7p, where p and f (p are measured in thousands. Find the size of the population that allows the maximum sustainable yield, and also find the si..
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