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The waiting times? (in minutes) of a random sample of 22 people at a bank have a sample standard deviation of 3.6 minutes. Construct a confidence interval for the population variance σ2 and the population standard deviation σ. Use a 95 % level of confidence. Assume the sample is from a normally distributed population.
a. What is the confidence interval for the population variance σ2??. (Round to one decimal place.) Interpret the results.
b. What is the confidence interval for the population standard deviation sσ??. (Round to one decimal place.) Interpret the results
a. What is the actuarially fair premium for each type of policy for Joe and Tanya?
A firm produces output using two factors of production according to technology f(x1, x2) = (x1^1/2)(x2^1/4). The price of output is 4. Factors 1 and 2 cost to the firm w1 and w2 per unit, respectively. (i) Write an expression for the firm’s profit. (..
Developing countries complain that the current international trade practice doesn’t reward the developing countries due to the worsening terms of trade of primary products that are exported mainly from developing to developed countries. What are the ..
In short-run, I see the question on slide 10 (Firm supply) used MC=SAVC to find the crossing point between MC and AVC, so does it mean that we can also take derivative of AVC with respect to Q and set it equal to zero to find minimum or maximum and t..
Which of the following industries do you expect to have high concentration ratios: automobile production, aircraft manufacture, computer and electronics production, pharmaceuticals, production of expensive jewellery? Why do you think the specific ind..
How would you build a new professional relationship with an employee prior to an interview?
When do consumers pay the most of a sales tax? When do producers pay most of the tax? How should sunk cost be taken into account in decision making? (include example if possible). Given that sales taxes cause deadweight loss, what should be the elast..
What would government do with its fiscal policy play during a depression? What is the Federal Reserve most likely to do with monetary policy in the course of a depression?
Suppose your company produces one product at the output level (75 units) that minimizes its average cost. At the current level of 75 units, your company’s average cost is equal to $750. What would be this company’s change in total cost if, instead of..
Systems to predict food shortages also need reviewing: early warning systems are of limited use without an effective response from policymakers. How will CAADP work when or initiatives have failed in past.
q.suppose that there is a unit mass of consumers who are uniformly distributed on the segment01. two firms are located
Show analytically that equilibrium price under Cournot is greater than price under perfect competition but lower than monopoly price.
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