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Changing the mean of a Normal distribution by a moderate amount can greatly change the percent of observations in the tails. In 2002, the scores of men on the Math SAT followed the N(534,113) distribution. Women's Math SAT scores that year had the N(500,113) distribution.
The mean Math SAT score for men was 34 points, i.e., 6.8% higher. (34 is 6.8% of 500.)
How much higher (in percent terms) is the percent of men scoring 750 or better (than the corresponding percent of women)?
Find a firm that you believe has achieved economies of scale in recent years. Given the determinants of economies of scale (labor specialization, managerial specialization, efficient capital, etc.), which determinant do you believe is most responsibl..
Fast Copy has had several suits filed against them concerning discrimination in the workplace. The plaintiffs in these suits complain that the general set-up of the organization prohibits them from advancement. Explain what type of discrimination the..
Derive the correlations between P* and Y, and Q* and Y. Discuss their signs. (Quantitative methods in Economics)
You have just graduated and moved to this city; as a new MBA and an entrepreneur, you are considering entering the market for this product.
Does our baseline model without search produce a multiplier? What assumptions must be made in the model with search to make the mul- tiplier match the larger estimates in the data. What types of changes to our current model would make the multiplier ..
A firm deciding to hire a secretary, bases its decision on how wellt he candidate is trained on certain software. This practices addresses: adverse selection or
Always Round Tire is the only producer of tires for the new British import, the Maxi Copper. Demand for a set of four tires is P = 800 - 5Q (note: Marginal Revenue has twice the slope as the demand curve) while the cost incurred by the firm is MC = 1..
In 2000, years prior to the growth of organic and natural food, Kellogg’s acquired Kashi Com. By 2008, Kashi sales had grown 24 times! By 2014, Kashi’s sales were down 17% from their peak. Further, it was determined that its cereals contained GMOs re..
The relationship between Price elasticity of demand and Marginal Revenue can be shown to be: There are two types of customers that come to the Barnegat Fish Company to have their signature crab cakes: An affluent group with a price elasticity of dema..
Of the four industry structures we discussed (monopoly, competition, oligopoly, monopolistic competition), very briefly what is the main advantage and disadvantage of each? Do you see a preferred/ideal industry structure? Why/why not?
Why is technology such an important part of the labor market? Do you think technology makes workers more or less productive and how does it relate to their wages?
Would even the most affluent people, businesses or countries still experience the problem of scarcity? Why or Why not?
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