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The quality control manager of a tire company wishes to estimate the tensile strength of a standard size of rubber used to make a class of radial tires. A random sample of 64 pieces of rubber from different production batches is subjected to a stress test. The test measures the force needed to break the rubber in pounds. According to the sample results, the average pressure is 235 pounds and the standard deviation is 32 pounds. Determine the 99% confidence interval.
An economist has estimated the demand for cable television services in Eastern Pennsylvania, and has found the following elasticities: If the cable television company wants to increase revenues, it should increase price.
Explain how convinced are you that the new 30-gallon trash bag is the strongest such bag on the market.
Explain the behaviour of economics and how its support and criticizes veblen theory (minimum 300 words) please.
As the price of margarine rises by 20%, a manufacturer of baked goods increases its quantity of butter demanded by 5%. Calculate the cross-price elasticity of demand between butter and margarine. Are butter and margarine substitutes or complements fo..
Assume that M1 is currently $2,700 and M2 is $11,000. Determine the new levels for M1 and M2 and whether the new values represent an increase decrease or unchanged totals for M1 and M2 based on each of the following INDEPENDENT scenario: In other wor..
The four fundamental factors that affect the supply of and demand for investment capital – which affect interest rates – are investment opportunities, time preferences for consumption, risk, and inflation. Explain how each of these factors affects th..
When the government increases its demand for loanable funds
Approximately 46 million Americans under age 65 are uninsured. About two-thirds of the uninsured are either employed (full- or part- time) or in a family with an employed member. Which groups favored and which groups opposed an employer mandated nati..
Define the four types of sentences, and explain how sentence style affects emphasis within a message.
Suppose that you want to maximize the value of the function f(x) = x^3-6x^2+9x, subject to 0 less than or equal x less than or equal 5. Which value(s) of x satisfy the first-order condition for this maximization problem? What is the maximized value o..
In 1870, the U.S had an average income of about #2758 and the U.K of about $3463. In 1999, the figures were $30,600 and $22,640, respectively. If each country grew at a constant rate over these years, in which year did the U.S. overtake the U.K. in t..
What does the principle of horizontal equity state?
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