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A marketing company conducted a study where women and men were asked to express a preference for one of two commercials-A or B-for the new iPhone XS. For the women, 44 out of 100 preferred commercial A. For the men, 79 out of 140 preferred commercial B.
(a) For these data, do you want to consider one of these categorical variables as an independent variable and the other as a response variable? Give a reason for your answer.
(b) Display these data using an r x c table. What are the values of r and c? Which variable is the column variable and which is the row variable? Give a reason for your choice.
(c) How many cells does the table have?
(d) Explain the difference between joint distribution, marginal distribution, and conditional distribution.
From number 33, calculate the cross-price elasticity. From number 32, calculate the price elasticity of Good Y. From number 31, the Good X market is experiencing a market failure. What is happening in Good X? Refer to the figure above. Calculate the ..
A driver faces a 5% probability that his car will be in an accident and will be worth nothing. Consider three drivers with cars that have value $30,000. Abdulla's utility function over the value of his car W is u(W) = ln(1 + W). Bedriya's utility ..
A total of $50,000 was available for investing in a project to reduce insider theft in an appliance warehouse. Two alternatives identified as Y and Z were under consideration. what is the size of the investment required in Y and (b) what is the rate ..
If there is a decrease in demand for a product in a purely competitive industry, it results in an industry contraction that will end when the product price is:
Your family business produces a secret recipe salsa and distributes it through both smaller specialty stores and chain supermarkets. The chains have been demanding sizable discounts but you do not want to drop your prices to the specialty stores. How..
Explain how each of the following variables will be affected by proposed steps that you have identified in the first part of the discussion: money supply, interest rates, inflation rate, aggregate demand, and output. Provide support for your respo..
Suppose that during the past year tv fell from $2000 to $1800 per tv sales increased from 700000 to 800000 tv. calculate elasticity of demand.
Most (97 percent) roads and streets in the United States are under the jurisdiction of State and local governments.
Output is homogenous and the demand curve is P = 448 − Q. There are two firms with identical costs given by C = q2 i where qi is the production of firm i. The marginal cost of firm i is MCi(qi) = 2qi . Find the Cournot equilibrium firm outputs. Find ..
Suppose the labour market in the house cleaning industry in Quebec City can be described by the following demand and supply equations: LD = 400 - 10w and LS = 40 + 20w. Calculate the equilibrium wage and employment if the market is free.
Using the Internet, find out information about two current data mining projects being conducted by either a corporation or the government. Determine the possible benefits that these projects offer. Also, find out if there are any criticisms of the..
After getting released by Cleveland Browns, Johnny “Football” Manziel opens a shop that sells running/exercise apparel in 2016. Assuming that it is the year 2017, and Johnny Football has sold $3,000,000 worth of running shoes, sweat outfits, shorts, ..
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