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Over a period of years, a toothpaste has received a mean rating of 5.9, on a 7-point scale, for overall customer satisfaction with the product. Because of a minor unadvertised change in the product, there is concern that the customer satisfaction may have changed. Suppose the satisfaction ratings from a sample of 60 customers have a mean of 5.60 and a standard deviation of 0.87. Do these data indicate that the mean satisfaction rating is different from 5.9? Test with alpha = 0.05 significance.
Using the two economic indicators selected for your Housing Industry Overview Paper assignment, Compare and contrast at least two different eighteen month forecasts for each of the 2-economic indicators.
Suppose the second equation is changed to I = 500. What is the new equilibrium level of income? How much does the $100 increase in investment change equilibrium GDP?
Calculate the price elasticity of demand in summer for transit services and the cross-price elasticity of demand for transit with respect to the level of business activity.
Wishwell Tile Corporation uses the number of construction permits issued to help estimate demand. The company collected the following information on yearly sales and number of construction permits issued in its market area:
Tennessee just instituted a state lottery. The initial jackpot is $100,000. If the first week yields no winners, the next week's jackpot goes up, depending on the numbers of previous players who placed the lottery bets
Suppose income declines by 2.85%, how much do I have to cut value in order to maintain existing customers and it begins with being given a regression analysis that has the following:
What is the optimal price of the textbook from the author's point of view and by how much would the demand for the textbook change if advertising were increased by 2%?
Now calculate the GDP deflator for 2011 and 2012 (assuming that 2011 is the base year). d) What is the rate of economic growth between the two years as defined byt he percent change real GDP. e) What is the rate of inflation between the two years?
Determine national income (NI) for 2008 and what does national income tell us? Discuss the difference between GDP and NI?
Calculate the predicted probabilities and verify that all the ?tted values are between 0 and 1. What is the smallest value you observe? And the largest?
You are attending the yearly shareholder's meeting of PIC firm. A fellow stockholder points out that manager of PIC received $100,000 last year, while the manager of a rival company, CUP Enterprises, earned only $50,000.
The given information is the quarterly sales of gasoline in the U.S. in millions of barrels during part of the 1980s and the 1990s. Determine the linear trend and use it to forecast sales for first quarter of 1992.
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