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A purchaser of electronic components wants to test the hypothesis that they last less than 100 h. To do this she takes a random sample of 16 such components and ?nds that, on average, they last 96 h, with a standard deviation of 8 h. If the purchaser knows that the lifetime of the components is normally distributed, should she accept the hypothesis that they last less than 100 h at ( a ) A 95% level of con?dence? ( b ) A 99% level of con?dence?
In the past, 20% of applicants for admission into a master's program had GRE scores above 650. Of the 88 students applying to be admitted into the program in 1981, 22 had GRE scores above 650. Do the 1981 applicants have greater GRE scores than previous applicants at the 5% level of signi?cance?
Suppose that currency in circulation is $600 billion, the amount of checkable deposits is $900 billion, excess reserves are $15 billion, and the required reserve ratio on checkable deposits is 10%. Calculate the money supply, the currency deposit r..
a company desires to estimate the cost of building a 600-mw fossil-fuel plant for the assembly of its new long-distance
Q 1 5 20 bags. Q 2 5 15 bags. Q 3 5 27 bags. The market equilibrium price is $45 per bag. The price at a is $85 per bag. The price at c is $5 per bag. The price at f is $59 per bag. The price at g is $31 per bag. Apply the formula for the area of ..
What is the money demand function in the classical model(in math)? Explain in words which factors affect money demand and in which direction. What is the liquidity preference function(in math)? Again, explain in words which factors affect money deman..
Assume that a monopoly's production function is Cobb-Douglas, Q = L^1/2 * K^1/2, where L is labor and K is capital. The demand function is P = 100 - Q. The wage rate, wL, is $1 per hour, and the rental rate of capital, wK, is $4 per hour. (a) Deri..
Test at the 0.01 level the statement that 55% of those families who plan to purchase a vacation residence in Florida want a condominium. The null hypothesis is = 0.55 and the alternate is . A random sample of 400 families who planned to buy.
How does a minimum wage imposed under monopsony differ in results as compared with a minimum wage imposed under perfect competition? (Assume the minimum wage is above the market-determined wage.)
Suppose that China catches up with American productivity so that Chinese worker can produce 100 shirts or 20 computers. What pattern of trade would you predict now How does this advance in Chinese productivity affect the economic well-being of the..
Suppose that the current spot rate between Japan and the US is 4 yen per dollar, the forward rate is 4.04 yen per dollar, and the expected future spot rate is 4.06 yen per dollar.
Sam riddle religiously invest $1,000 a month in a retirement account that pays 12% interest compounded monthly for the first 5 years and 9% interest compounded monthly for the next 10 years. The accumulation Sam will have at the end 15 years.
1. What is the consumption spending C at the equilibrium 2. The government is willing to consider an increase in public spending only if the multiplier is higher than 1.5. Base on your calculations will the government implement the increase in govern..
Assuming the worker faces no other taxes, graph the budget constraint for a typical worker earning a wage of W per hour
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