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The Wall Street Journal reported that automobile crashes cost the United States $162 billion annually (The Wall Street Journal, March 5, 2008). The average cost per person for crashes in the Tampa, Florida, area was reported to be $1599. Suppose this average cost was based on a sample of 39 persons who had been involved in car crashes and that the population standard deviation is ? = $700.
What is the margin of error for a 95% confidence interval? Round your answer to two decimal places.
What would you recommend if the study required a margin of error of $150 or less?
An entrepreneur plans to convert a building she owns into a video-game arcade. Her main decision is how many games to purchase for the arcade.
From the regression output, estimate the demand function when income is $40,000 and price is $2 per gallon. Explain the result in terms of R-square, T-test, F-statistic, and signs of each X variables.
Why might the Homo sapiens production possibilities curve have shifted outward to the right much more rapidly than those of Neanderthals? Why might failure to specialize explain why Neanderthal groups in difference areas did not trade? (Remember t..
A change in the money supply has no effect on the long run values of the interest rate or real output.
Calculate the dividend yield, the capital-gains yield, and the total return to the stock. Express your calculation in percentage terms.
Economists consider which of the following costs to be irrelevant to a short-run business decision? In economic analysis, any amount of profit earned above zero is considered above normal because,
A possible international monetary regime consists of a world central bank conducting monetary policy and issuing a single currency used throughout the world. Elucidate what would the advantages and disadvantages of such a system be.
Level of GDP per effective worker and explain whether this economy is following the Golden rule
In a monopolistically competitive marketplace, a firm has market power because it produces a differentiated product. This means that the firm earns positive economic profit in the long run.
Many home improvement retailers like Home Depot and lowes have low-price guarantee polices. Do these types of pricing strategies result in cutthroat competition and zero economic profits?
Due to the slow down economy, it is expected that there will be .7 million additional workers who will lose their jobs next month. Determine the expected unemployment rate for next month?
Explain why this strategy may in fact, be rational Also, identify at least two other strategies that might permit Argyle to earn higher profits.
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