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Suppose you have a sample of body weights from a population of males above 20 years of age. Your sample size is 121 men. Body weights are approximately normally distributed. Your sample mean is 190 pounds, and your estimated population standard deviation is 44 pounds. a. What is the estimated standard deviation of the sample mean? b. Construct a 95% confidence interval for the population mean. c. Develop a hypothesis test that can be used to determine whether the population’s mean body weight is different than 180 pounds. Use a significance level of 5 percent. (i) Construct a test statistic for this your test (ii) Indicate whether you reject the null hypothesis or do not reject, and why.
Draw a simple circular flow diagram showing the flow of dollars, goods & services between households & firms. Explain why the dollar flow out of households and into businesses must be equal. Is the same true in the expanded circular flow? Explain. Su..
U.S. Budget Deficit: Visit the website of the Congressional Budget Office and find the U.S. Federal deficit (surplus) and total debt. As late as 1992, the United States was running budget deficits of nearly $300 billion.
One could argue that a long commute to work is an undesirable characteristic of any job. If most people live in the suburbs.
Explain General Medical makes disposable syringes for hospitals and doctor supply companies. The company uses cost plus pricing and currently charges 150% of average variable costs.
What happens in a perfectly competitive industry when economic profit is greater than zero?
q1. bertrand price competition the two firms have the same demand curve p100-4q marginal cost of firm 1 is 5 and for
The monetary base increased by 20% during the contraction of 1929-1933, but the money supply fell by 25%. Explain why this occurred. How can the money supply fall when the base increases?
What are the components of the Affordable Care Act? What improvements have the Affordable Care act made to the United States Healthcare delivery system? What are some examples of how new legislation will affect the problems associated with cost, acce..
q1. suppose that there are two products soda along with clothing. both brazil and the united states produce each
Over the years the market demand for “long-playing records made of polyvinyl has fallen considerably as new technologies replaced the old “lp” yet lps are still available for sale and they sell at price points higher (in some cases much higher) than ..
How will an increase in the savings rate affect the growth rate of per capita output in an endogenous growth model?
Assume to you live in a simple economy in that only three goods are produced also traded: fish, fruit also meat. Illustrate what additional information might you require constructing your measure?
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