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1) Refer to Figure Calculate the area of the triangle A.
a. $6.3 million
b. $3.15 million
c. $8.4 million
d. $2.1 million 2) You explain to your friend Haslina, who runs a catering service called "Meals in a Zip," about an economic theory that asserts that consumers will purchase less of a product at higher price than they will at lower prices. She contends that the theory is incorrect because over the past two years she has raised the price of her catered meals and yet has seen a brisk increase in sales. How would you respond to Haslina? a. I will explain to her that there are some omitted variables that have contributed to an increase in her sales such as changes in income.
b. Haslina is making the mistake of assuming that correlation implies causation.
c. I will explain to her that she confusing positive economic analysis with normative economic analysis.
d. Haslina is right; she has evidence to back her claim. The theory must be false. 3) In a production possibilities frontier model, a point inside the frontier is a. inefficient. Maximum output is not being obtained from available resources.
b. allocatively efficient.
c. allocatively inefficient.
d. productively efficient
a random sample of n 16 scores is obtained from a population with a mean of micro 80 assume ? is unknown and a
There are two ways to run the experiment. The first is to obtain a random sample of 12 drivers, divide them into two groups at random and assign one group to the standard light and the second group to the new light. Suppose the table below represents..
mac inc. which was created in 1962 has yielded the following percentage returns on its stock for the last 5 years 13.2
Consider a sample with data values of 10,20,12,17, and 16.... Compute the mean and median and explain how you get to the answer....
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after observing a long run of red on a roulette wheel many gamblers believe that black is bound to occur. such a belief
Calculate the sample statistics and determine whether there is evidence that the mean blackness is less than 0.97. Write a memo to management that summarizes your conclusions.
to boost holiday sales a jewelry store in bismarck north dakota is advertising the following promotion if more than
Household income does not tend to follow a normal distribution in a particular state, yet average income is approximately $45,000/year in this state, with a standard deviation of about $9000.
A random sample of 13 four-cylinder cars is obtained and the breaking distances are measured and found to have a mean of 137.5 ft and a standard deviation of 5.8 ft.
A bottling company uses a filling machine to fill plastic bottles with cola. The bottles are supposed to contain 300 milliliters (ml). In fact, the contents vary according to a normal distribution with a mean of 298 ml and a standard deviation of 3 m..
Use the Poisson distribution to find the indicated probabilities. Currently 11 babies are born in the village of West Point (population of 760) each year.
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