Value of the sample means and what is the standard error

Assignment Help Microeconomics
Reference no: EM13688823

The population of men’s heights had a mean of 69” and a standard deviation of 3.2”

a. If many random samples of size n = 4 were collected, and in each case the sample mean was calculated, how would these sample means fluctuate? (i.e. what is the expected value of the sample means and what is the standard error?

b. Suppose the sample size quadrupled to n = 16, repeat part a.

Show work.

Reference no: EM13688823

Questions Cloud

A lithium cartels curve : A lithium cartel’s curve is given by P = 2400 – 40Q. Each member’s cost of supplying lithium is AC = MC = $400.
What was the inflation in the prices faced by consumers : Suppose that Jean Splicer, an investor, buys $300,000 of shares of stock in a diversified bundle of Bio-tech firms and exactly one year later sells those shares for $315,000. What was the inflation in the prices faced by consumers?
Homogeneous product with inverse demand function : Two firms compete in a market to sell a homogeneous product with inverse demand function P = 600 - 3Q. Each firm produces at a constant marginal cost of $300 and has no fixed costs.
Price elasticity of demand : Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..
Value of the sample means and what is the standard error : If many random samples of size n = 4 were collected, and in each case the sample mean was calculated, how would these sample means fluctuate? (i.e. what is the expected value of the sample means and what is the standard error?
Consumer spending initially rises : Suppose that the consumer spending initially rises by $5 billion for the very 1 percent rise in household wealth and the investment sending usually rises by $20 billion for every 1 percentage point fall in the real interested rate.
Suppose the production function : Suppose the production function is Q = min{3K, L}. How much output is produced when 6 units of labor and 3 units of capital are employed?
Suppose the marginal product of labor : Suppose the marginal product of labor is 8 and the marginal product of capital is 2. If the wage rate is $4 and the price of capital is $2, then in order to minimize costs the firm should use
Calculate total costs for annual output : Suppose that your computers were not working and you had to solve the following problem for management by creating and explaining a data table.

Reviews

Write a Review

Microeconomics Questions & Answers

  A recovery a good strategy

A recovery a good strategy?

  What is the price elasticity of demand

When the price of a good is $5, the quantity demanded is 100 units per month; when the price is $7, the quantity demanded is 80 units per month. What is the price elasticity of demand, using the midpoint method?

  What is the price tad receives for selling the bait

What is the price Tad receives for selling the bait?

  The strategies it has adopted to enhance its competitive

hyundai motor company hmc went through some difficulties during the 1980s and 1990s that affected its market position

  How to continue with the simultaneous move assumption

Two firms are competing in an oligopolistic industry. Firm 1, the larger of the two, is contemplating its capacity strategy, which we can broadly characterize as "aggressive" or "passive." The "aggressive" strategy involves a large increase in cap..

  Business behavior and public policy1 define market power

business behavior and public policy1. define market power and then discuss the rationale for government regulation of

  Determining own-price elasticity

Assume that the price was 5% lower and all other factors do not change. How much more would you buy each year? Using this information, compute the own-price elasticity of your demand.

  At 95 condence find the smallest sample size needed to

most americans love participating in or at least watching sporting events. some feel that sports have more than just

  Question 1 on august 14 1947 the indian subcontinent which

question 1. on august 14 1947 the indian subcontinent which was under british rule for nearly two centuries was granted

  Competitive markets are earning negative economic profit

When profit-maximizing firms in competitive markets are earning negative economic profit, Select one:

  What are the firm economic profits

The marginal revenue curve of a monopoly crosses its marginal cost curve at $30 per unit, and an output of 2 million units. The price that consumers are willing and able to pay for this output is $40 per unit.

  Disadvantages-forming strategic alliance

Describe the issues, challenges, or disadvantages to forming the strategic alliance (focus on supply chain). Provide an example that is not included in attached reference.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd