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Code P19 A group of 85 students in first-year biology at Western University just wrote their second midterm. Because the first year tests involve a group component in which students learn the correct answers to the midterm questions at the end of the exam, they each know what they scored on the test. Based on their individual results, they computed a mean midterm mark of 19 (it was a test marked out of 25), with standard deviation of 4.3 marks. They considered themselves a simple random sample of all first-year biology students, and consequently calculated a confidence interval to estimate the mean midterm score for the test of 17.893 to 20.107 marks). What confidence level was used to create this confidence interval?
Assume that an economy experiences both positive population growth and technological progress. A reduction in the saving rate will cause:
The first demand-side elasticity discussed in class and the readings was the price elasticity of demand (ED). It is defined as the
The price elasticity of demand for urban transit fares has been estimated to lie between -0.1 and -0.6. Based on these results, give an economic argument for raising transit fares. What political arguments might local governments and transit authorit..
What is the amount of equal annual deposits needed in years 7 through 14 to provide for a series of annual withdrawals of $2400 beginning 9 years from now and increasing at the rate of 2% per year through year 19? Assume an interest rate of 5% per ye..
An elderly physician has built up his own practice into a quite valuable business. Now that he is thinking of retiring, he wants to take on a partner to learn the business and eventually buy the practice in three years. Discuss the plusses and minuse..
List several ways that people and businesses in the green movement are participating.
Suppose the uncovered interest parity condition holds, and that the domestic interest rate is lower than the foreign interest rate.
This assignment is based on an article published in The Economists' Voice by Cass R. Sunstein, titled 'The Precautionary Principle as a Basis for Decision Making', in Volume 2, Issue 2 , 2005. The article and rubric (i.e. assessment criteria) are att..
Illustrate what were its consumption and government expenditures on goods and services.
Suppose an economy’s real GDP is $46,000 in year 1 and $49,200 in year 2. What is the growth rate of its real GDP? Assume that population is 100 in year 1 and 102 in year 2. What is the growth rate of real GDP per capita?
When a bank accepts a checkable deposit from a customer, its deposits will increase and its excess reserves will: An increase in the dollar price of the British pounds will: If bond prices decrease, then the: The limited liability rule means that if ..
Assuming that the amount spent per hour of shopping is normally distributed, find a 90% confidence interval for the mean amount.
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