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The national average for the verbal portion of the College Board's Scholastic Aptitude Test (SAT) is 507. The College Board periodically rescales the test scores such that the standard deviation is approximately 100.
Answer the following questions using a bell-shaped distribution and the empirical rule for the verbal test scores.
(a) What percentage of students have an SAT verbal score greater than 607?
(b) What percentage of students have an SAT verbal score greater than 707?
(c) What percentage of students have an SAT verbal score between 407 and 507?
(d) What percentage of students have an SAT verbal score between 307 and 607?
(e) Compare and contrast the Empirical Rule and the Chebyshev's theorem.
Explain the multiplier intuitively. Why is it that an increase in planned investment of $100 raises equilibrium output by more than $100 Why is the effect on equilibrium output finite How do we know that the multiplier is 1/MPS
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Y C I G X AE S MPC MPS S IM MPI 100 120 20 30 10 180 -20 If government spending increases by $15, what is the new equilibrium level of real GDP 2. What are the equations for the consumption, net exports, and aggregate expenditures ..
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If two people have cardinal utility functions, person1 is Utility = XY and person2 is Utility = (XY)^1/3 which bundle would they find to be best Bundle 1: Has an indifference curve of Y = 1/X
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