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Question 1.
For a sample 1000 Twitter users, Elon Musk's research department reports an average age of 39. If the population standard deviation is 9.5 years, what would be the upper bound for a 90% confidence interval estimate of the mean age of all Twitter users?
Question 2.
The average annual health care cost in a random sample of 600 U.S. adults is $8562. If the standard deviation for health care costs in the population is $1230, compute the margin of error in a 90% confidence interval estimate of the mean annual health care cost for all U.S. adults.
What are some of the shocks most prevalent in the UK's business cycle (considering 2019 to Aug 2022 as timeframe)?
If the production of health care generated positive externalities, the welfare costs of moral hazard would be smaller than suggested by M. Pauly's analysis. Explain.
Suppose that on Valentine's Day the demand for both roses and greeting cards increases by the same percentage amount, however the price of roses
Consider the perfectly competitive market for burritos. In the short run, a burrito company has a cost curve of STC(Q)=Q^2+4Q+9, the $9 fixed cost is non-sunk. What is the short-run supply curve for an individual burrito company? Suppose there are 40..
The own price elasticity of demand for apples is -1.2 if the price of apples falls by5%, what happen to the quantity of apples demanded?
How did the GFC change perceptions of global economic governance? What problems did it reveal in the system as a whole?
Recall our fictional drug for carpal tunnel syndrome called BHTn1, which was introduced in Section 12.1.
If a representative firm with total cost given by TC = 20 + 20q + 5q 2 operate in a competitive industry where the short-run market demand and supply curves are given by QD = 1,400 - 40P and QS = - 400 + 20P, its short-run profit-maximizing level of ..
Since all the Hawkins Company's costs (other than advertising) are essentially fixed costs, managers want to maximize total revenue (net of advertising expenses). According to a regression analysis (based on 124 observations) carried out by managers,..
Chris consumes only 2 goods, Suppose his utility function is U(X1,X2)=X1 1/3,X2 2/3, Suppose P1 =$2,P2= $8 and income(I)=$600 I want to know how to do the problem, so I need to see all the steps it takes to arrive at the correct answers for a,b and c..
Assume that Ms. Thompson is currently exhausting her money income by purchasing 10 unites of A and 8 unites of B at price $2 and $4 respectively. Elucidate what these data suggest about Ms. Thompson.
Complete this statement by filling in the blanks with the words "increase" or "decrease": The entry of an additional firm in a mon. comp. market _____________ the profit per unit of output because entry ________ the price and ____________ the average..
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