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(A) State the Central Limit Theorem.
(B) The weight of an average footballer in team A is 220lbs. The standard deviation is 15lbs. A coach scouting a sample of 4 footballers will sign them if the sample mean weight is less than 215lbs.
i) What is the probability that he will sign them?
ii) If the coach samples 100 players, what is the probability that the sample mean weight will be less than 215?
Suppose that the nominal rate of interest is holding steady at 8 percent even as the anticipated rate of inflation rises.
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Using your diagram in 3.1 and relevant examples, explain the key concepts of efficiency and inefficiency
Suppose that each country has 100 workers and completely specializes in its comparative advantage. How many units of output of sippy cups and binkys will each country produce?
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Monopolistically competitive firms are inefficient, so why do we allow so many to exist? Monopolistically competitive firms are numerous and prominent. So, what do we gain from them that compensates us for their inefficiency? explain please.
Now suppose Starbucks introduces world to premium blends, and so demand rises substantially.
If the sample size were 200 what is the probability that the sample proportion would be at least 12.5%? Does this outcome seem likely? Explain.
For each of the following situations, decide whether the bundle Lakshani is considering optimal or not. If it is not optimal, how could Lakshani improve her overall level of utility? That is, determine which good she should spend more on and which go..
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