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Refer to Exercises 3 and 4. An atmospheric scientist notices that the slope of the least-squares line in the study described in Exercise 4 differs from the one in the study described in Exercise 3. He wishes to test the hypothesis that the effect of humidity on ozone level differs between the two cities. Let βA denote the change in ozone level associated with an increase of 1% relative humidity for the city in Exercise 3, and βB denote the corresponding increase for the city in Exercise 4.
a. Express the null hypothesis to be tested in terms of βA and βB .
b. Let βˆ A and βˆ B denote the slopes of the least-squares lines. Assume these slopes are independent. There are 120 observations in each data set. Test the null hypothesis in part (a). Can you conclude that the effect of humidity differs between the two cities?
Sean Bell invested $10,000 on a blue chip stock five years ago and paid a commission of $90. He sold it today for $14,192.20 and paid the same commission, exactly 5 years and 4 months since the stock was bought.
Suppose that under a new law, all businesses must pay a tax equalto 3% of their sales revenue. Assume that this tax is not passed onto consumers. Instead, consumers pay the same prices after the taxis imposed as they did before.
A pharmaceutical firm is marketing a patented drug it has developed (the firm therefore has monopoly rights over the drug). The demand for the drug is given by Q = 8000 8P (MR(Q) = 1000 Q 4 ), where P is the price of the drug (in cents)
A study of long distance phone calls made from the corporate offices of Pepsi Bottling Group, Inc., in Somers, New York, revealed the length of the calls, in minutes, follows the normal probability distribution.
Malawi coffee producers come to you and ask for tariff protection from cheap Tanzanian coffee. What sorts of policies will you enact? Explain.
Select at least 5 sales items, and evaluate the price elasticity of demand for each item
Market research at Apple Corporation has shown that the demand function for its new iPhone is as follows: QA = 3 - 0.02PA + 0.0002I + 0.01PS where QA is the quantity demanded (in thousands) of iPhones, PA is the price of an iPhone, I is consumer i..
Why is real GDP targeting the riskier of the two strategies?
use the formula present value = (future value)/(1 + r)n, where n is the number of years, and r is the annual interest rate. 3. From the perspective of year 1 /1/2010, the future value on 1/1/2012 is $5,500. If the interest rate in year 2012 is r
Show that the rate of population growth has no effect on the equilibrium growth rate of the economies studied in Sections 11.1 and 11.2. Explain why. Do you find this prediction to be plausible?
Qs= 3p Qd= 100-2p a) Suppose a tax of $5 is imposed on the buyer. What will be the price paid by the buyer after this tax What will be the price received by the seller What quantity is sold Show your calculation.
If the inflation rate in the long run is not equal to the target inflation rate what was the use of the monetary policy reaction function
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