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A random sample of 10 economists produced the following forecasts forpercentage growth in real domestic product in the next year:2.2 2.8 3.0 2.5 2.4 2.6 2.5 2.4 2.7 2.6
Use unbiased estimation procedures to end point estimates for the following:(a) The population mean?(b) The population variance?(c) The variance of the sample mean(d) The population proportion of economists predicting growth of at least2.5% in real gross domestic product(e) The variance of the sample proportion of economists predicting growthof at least 2.5% in real gross domestic product
Sometimes, a bidder on a work contract may bid lower than what would maximize his/her profit from the contract and the reason for that is to create goodwill (to increase expected future business from the buyer).
What quantity should Titan produce to maximize total revenue and what is Titan's fixed cost? How do Titan's marginal costs behave as output increases?
What is the cost of using this machinery for one year? How would your answer be different if the machinery had not yet been purchased?
You are given the data below for 2008 for the imaginary country of Amagre, whose currency is the G. Consumption 350 billion G Transfer payments 100 billion G Investment 100 billion G Government purchases 200 billion G Exports 50 billion G Imports 15..
Michigan is offering financial incentives to improve health. Using economic model(s) demonstrate the impact of such policy on efficiency of the medical care system.
Suppose that the resident of vegopia spend all of their income on cauliflower,broccoli and carrots. Calculate the price of each vegetable in each year.
Explain what the Durbin-Watson statistic from regression indicates and Plot the residuals against time and comment on whether there is a seasonal pattern.
What is the profit-maximizing price of carpets? What is the maximum amount of profit that the firm can earn selling carpets?
What did you end up doing? Explain using a two time period budget equation and congress must be happy with your findings. You are sitting at your desk starring at your very first bonus.
In using game theory, both parties have dominant strategies that lead to a best case for each individual. However, these decisions result in a worst case for the combination of the two. Discuss ways that each party can achieve a better solution.
According to the aggregate expenditure function, as the price level decreases, it is reasonable to expect that the automonos and induced expenditures increase, only the autonomous expenditures increase or else.
Self-interest is a powerful motivator. Does this necessarily imply that people are selfish and greedy? Do self-interest and selfishness mean the same thing"?
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