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Q. The Texas Transportation Institute at Texas A&M University conducted a survey to determine the number of hours per year drivers waste sitting in traffic. Of 75 urban areas studied, the most jammed urban area was Los Angeles where drivers wasted an average of 90 hours per year (U.S. News & World Report, October 13, 2003). Other jammed urban areas included Denver, Miami, and San Francisco. Assume sample data for six drivers in each of these cities show the following number of hours wasted per year sitting in traffic. Denver Miami San Francisco70 66 6562 70 6271 55 7458 65 6957 56 6360 66 75
a. Compute the sample mean hours wasted per year for each of these urban areas.
b. Using a = .05, test for significance differences among the population mean wasted time for these three urban areas. What is the p-value? What is your conclusion.
Consider an equilibrium in which someone is using the good. Is social welfare maxi- mized at this number of users, or would it go up if there were more users, or would it go up if there were fewer users? .
Suppose that for a particular economy and period,investment was equal to 100,government expenditure was equal to 75,net taxes was fixed at 100,and consumption was given by consumption function c=25+0.8Yd where Yd is the disposable income and Y
Assess what the results of the regression equation tells managers and how it is likely to impact decisions made related to maximizing profitabilit
Dogs kept in a backyard and are barking constantantly are notorious in most city neighborhoods. Do these dogs pose a negative or positive externality? What (if anything) should the city do about these externalities?
Trace out exactly where this 100 increase in income goes in the second round and compare to our simpler treatment with a closed economy and lump sum taxes.
If the exchange rate at the end of the year is 105 yens for a dollar then what would be the inflation rate be in the US.
Conclude how the abatement levels should be reallocated across the 2 industries to minimize costs.
Illustrate the total price of production (including the cost due to environmental damage) at the unregulated equilibrium quantity of 400.
A monopolist has determined that marginal revenue is $2.00 and average cost is $1.75. It has also determined that the lowest sustainable average cost is $1.75. To maximize profit, should the firm lower its price, increase its price, or leave the pric..
What government policies are available to reduce domestic demand in the medium run. Identify which components of domestic demand each of these policies affect.
Calculate the equilibrium interest rate by setting the demand for central bank money equal to the supply of central bank money.
sing specific data for an industry of your choice Elucidate how the benefits of such a policy.
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