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These two questions are about population proportions.(a) In baseball data set, it was found that out of the 59 baseball players, 15 were left-handed. Is this odd, since the proportion of left-handed males in America is about 11%? Answer this question by constructing a 95% approximate confidence interval.(b) Let Y be a Binomial random variable with n = 300, and probability of success p. If the observed value of Y is y = 75, find an approximate 90% confidence interval for p.
What is the profit-maximizing level of output of master cream (in bottles)? What is the profit-maximizing price? What is the maximum level of profit?
Through what channels does monetary policy affect the economy? That is, what are the monetary policy transmission mechanisms? List first them, then clearly describe two of these channels.
In the 1992 presidential elections, Ross Perot was speaking of NAFTA, which both of the other candidates (George H.W. Bush and Bill Clinton) supported. He made the statement about NAFTA ‘that giant sucking sound you hear will be your jobs being se..
Demand estimation and forecasting and income elasticity of demand
Firms like Papa John's, Domino's, and Pizza Hut sell pizza and other products which are differentiated in nature. While numerous pizza chains exist in most locations, the differentiated nature of such firms products permits them to charge prices a..
describes a measure used to compare two different tests with the same group of participants to see how closely correlated the two sets of scores are with each other. Inter-rater reliability, Test-retest reliability, Parallel-forms reliability, Intern..
Suppose the central bank conducts an unusually large open market purchase of bonds held by banks of $1,400B due to a sharp contraction in the economy. Assume the ratios you calculated in part (a) remain unchanged, what do you predict will be the e..
Find out the equilibrium price and quantity and illustrate with a graph. The government imposes a tax of $5.00. Find the new equilibrium price and quantity. Determine the total tax revenue earned by the government
Quantities purchased are the same but prices are not. What does this mean in terms of the marginal rate of substitution at those quantities?
The difference between the average earnings of eye surgeons and those of janitors is an example of
In the money market, money supply is determined by the central bank, such as the Fed in the U.S. Because of this, money supply curve is usually vertical in the short run, while the money demand curve is downward sloping. The quantity demanded of m..
The inflation rate would rise naturally as it always has the trick is to keep the supply of product as closely inline with consume needs. This can be done in many ways. If you see prices of a certain product climb you should look at ways to slow t..
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