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Let's say you have a professor who gives 6 tests in the fall semester. You received these percentages: 79, 64, 84, 82, 92, and 77. This professor has decided that he will randomly select two grades instead of averaging all of the original scores. Your final grade will be based on the average of these two exams. a) How many different samples of the two exam grades are possible? b) List all possible samples of size two and compute the sum and mean of each. c) Find the mean of the sample means and compare it to the population mean. d) As the student, do you think this is a good arrangement? Explain.
Assume that a firm has the following production function: Q=30K^1/3 L^2/3, where K is the number of machines and L is the number of hours of labor. The firm has 8 machines it purchased at a price of $50 each and it will be unable to obtain any more m..
Suppose a firm has the following production technology: one worker is required to operate on one machine (capital). More than one worker on the same machine will have a zero MPL. One worker operating on two more machines will also have zero MPK. In t..
You are considering buying a new house, and have found that a $200,000, 30-year fixed-rate mortgage is available with an interest rate of 4 percent. This mortgage requires 360 monthly payments of approximately $947 each. If the interest rate rises to..
The demand for diamonds is given by PZ = 680 - 2QZ where QZ is the number of diamonds demanded if the price is PZ per diamond. The total cost (TCZ) of the De Beers Company (a monopolist) is given by TCZ = 100 + 50QZ + 0.5Q2Z. What is social welfare w..
Based on our readings of the two papers, given the irreversible phenomenon of offshoring, what should be done by stakeholders to maximize the benefits of offshoring for the majority of the people in both the host and the home countries? Discuss brief..
You own a golf course in Florida and you need to determine how many golf carts you need to buy to maximize profits. What is the user cost of capital and what is it expressed in? Now suppose the (local) government with all their financial shortfalls e..
Lisa plans to retire on her 61st birthday. On her 22nd birthday, Lisa will start savin $A per year for 40 years. Starting on her 62nd birthday, Lisa plans on withdrawing $10000 and will continue these annual with drawls until the account is exhausted..
A project that incurs costs in early years and yields benefits in later years has been estimated to have costs just equal to benefits, in present value terms and ignoring risk factors. The project would be reevaluated as having greater benefits than ..
The dominant factor affecting medical care delivery and finance in the 1990s was. What is the most important factor leading to rising health care costs in the United States since 1980? Pharmaceutical companies receive patents as an exclusive right to..
Would it be possible for a company to report negative free cash flow and still be highly valued by investors; that is, could a negative free cash flow ever be viewed optimistically by investors? Explain your answer.
What is the difference between quantity supplied of bonds and a supply of bonds? First, use your own words to describe this difference and then illustrate the difference using two separate, properly labeled graphs (keep in mind that each of them will..
Explain the role that money plays under the Classical Macroeconomic Model. As a part of your discussion, include the impact the Quantity Theory of Money and Say’s Law have on this model and state in algebraic terms how the money supply relates to pri..
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