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(a) Use the data from Exercise 2 to find the line of best fit for men s income as a function of women s income.
(b) What is the slope of this line?
(c) Does it predict that the earnings gap is widening or shrinking?
Exercise 2
Table 6 shows the median incomes, in dollars, of men and women in the United States for the years 1974 through 1980.
(a) Find the line of best fit for women s incomes versus time and
(b) the line of best fit for men s income versus time.
(c) Plot both lines on the same set of axes.
(d) Is the gap widening or shrinking?
(e) What would this data predict about the earnings gap in 1986? (The actual gap in 1986 was 25,256 - 16,232 = 9024)
Consider the general two-commodity market model: QD1 = f0 + f1P1 + f2P2 QS1 = a0 + a1 P1 + a2P2 QD2 = f0 + f1P1 + f 2P2 QS2 = b0 + b1P1 + b2P2 where the f and a coefficients pertain to the demand (QD1) and supply (QS1) functions of the first co..
A certain processing center has the capacity to assemble 650,000 units per year. At present, it is operating at 65% of capacity. The annual income is $416,000. Annual fixed cost is $192,000 and the variable cost is $0.38 per unit assembled.
Describe the adjustment process, assuming that output began at its natural (fullemployment) level.
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David Christopher is an orthopedic surgeon who specializes in three types of surgery hip, knee, and ankle replacements. the surgery mix is 40 percent hip replacement, 50 percent knee replacement, and 10 percent ankle replacement.
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an office receives 20 faxed orders every two hours.1 what is the probability that it will receive 8 orders in the
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