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In a sample of 320 adults, 186 had children. Construct a 90% confidence interval for the true population proportion of adults with children.
_________________ < p < ________________________
You measure 40 backpacks' weights, and find they have a mean weight of 76 ounces. Assume the population standard deviation is 11.1 ounces. Based on this, construct a 99% confidence interval for the true population mean backpack weight.
Decimals to two places
______________________ +- ____________________ ounces
The p-value for a hypothesis test turns out to be 0.09802. At a 10% level of significance, what is the proper decision.
Many elderly people have Social Security payments as their sole source of income. Because of this, there have been attempts to adjust these payments so as to keep up with changing prices. Write down the algebraic representation of this consumer's bud..
An incumbent firm, Firm 1, faces a potential entrant, Firm 2 that has a lower marginal cost. The market demand curve is P = 120 – Q. First 1 has a marginal cost of $20, while Firm 2’s is $10. What are the Nash-Cournot equilibrium price, quantities, a..
The opportunity cost of a choice is: A. the net value of the opportunities gained. B. the value of the opportunities lost. C. the difference between the benefits and costs of the choice. D. sometimes positive or negative.
A person you trust asks you to loan them $2,000 at the end of year 1, $1,000 at the end of year 2, nothing in year 3, and then they will pay you $1,000 in year 4, $2,000 in year 5, and $3,000 in year 6. They note that you will pay out a total of $3,0..
Last year, Berkeley, CA passed a tax on yoga classes of $4 per yoga class. Suppose that the pre-taxdemand for yoga classes is QD = 2000 – 100P, and that the pre-tax supply of yoga classes is QS = 300P –200. Calculate the initial equilibrium price and..
In small networks, the web of router links is not complex, and paths to individual destinations are easily deduced.
Suppose that the manager of a firm operating in a perfectly competitive firm has estimated the firm’s AVC function to be: Determine the firm’s supply curve. What should be the industry price for the firm to produce 400 units of output in each period?
Bad gums may mean a bad heart. Researchers discovered that 85% of people who have suffered a heart attack had periodontal disease, an inflammation of the gums.
Expected-utility theory tells us that a risk-averse individual would want to be paid a risk premium to induce her to voluntarily accept risk. Or, alternatively
Assume that Jamaicans' taxes, imports, and saving behavior means that two-thirds of any change in income will survive leakages of tax, import spending, and saving. With this information you can calculate the multiplier at work in the Jamaican economy..
What are the strength of the neoclassical models of labor supply and labor demand. What are the weakness of the neoclassical models of labor supply and labor demand.
The price of cotton rises. What happens in the market for cotton shirts?
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