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1.What is the relationship between confidence intervals and hypothesis testing? How are they the same? How are they different? Which one is better? 2.In your own words, explain what central limit theorem and sampling distributions are. How can it help us to bridge descriptive statistics and inferential statistics? 3.What would be Effective Data Driven Decision-Making for companies, explain.
4.Hypothesis vs Prediction
5.EXPLAIN SAMPLING METHODS
Economists have observed that spending on restaurant meals declines more during economic downturns than does spending on food to be eaten at home. How might the concept of elasticity help to explain this phenomenon?
Why might banning advertising drive up prices? Why have economic analyses of clinical and administrative innovations become more important? What does it mean to have market power? Are firms with market power extremely profitable?
JG Asset Services is recommending that you invest $1,500 in a 5-year certificate of deposit (CD) that pays 3.5% interest, compounded annually. How much will you have when the CD matures?
Consider the price-taking firm in competitive industry for raw chocolate. The market demand and supply functions for raw chocolate are estimated to be
Explain what is meant by fiscal policy. Give 2 examples of tools that can be used to implement fiscal policy. What are some of the problems with using fiscal policy?
for each of the following events state the relevant elasticity concept. then compute the measure of elasticity
If the price of a mouse pad is $7.00, describe the situation in the market. Explain how market equilibrium is restored. What is the market equilibrium if a fall in the price of a computer changes the quantity demanded of mouse pads by 20 a week at e..
You decided to open a restaurant, named FunMeal. FunMeal is a fast food restaurant with a very limited menu. What is FunMeals elasticity of demand? Is demand elasticity, inelastic, or neither?
michael has the following utility functionuxy logx logy where the price of x is 3 and the price of y is 1. he has
a company produces an electronic timing switch that is used in consumer and commercial products. the fixed cost cf is
1 the following data applies to the economypersonal incomeconsumption100007000120008000140009000the tax rate is 25.
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