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For a school project, Max must design a survey. For his survey he plans to randomly select families and gather information about all the childrenin each of those families. He must have at least 20 children in his sample. The number of children per family in the U.S. is given in the table below. How many families should Max expect to surveyto reach at least 20 children? (treat "5 or more" as 5.)
No. of Children 0 1 2 3 4 5 or more
% of families 17 23 25 16 10 9
1. Describe how you will use a random number table to conduct this simulation.
2. Show three trials by clearly labeling the random number table given below. Specify the outcome for each trial.
8 4 4 3 2 0 4 9 1 6 5 2 9 4 9 7 8 5 3 3 6 2 3 5 0 2 0 5 8 4 5 6 3 6 7 1 9 7 0 1 5 8 7 6 5 4 1 7 6 0 4 3 3 0 4 1 3 3 9 9 9 7 1 9 8 4 0 9 7 4 4 5 3 0 1 6 0 1 7 7 3 5 6 0 4 2 1 5 8 0
3. State your conclusion.
The annual bonuses ($1,000s) of six employees with different years of experience were recorded as follows.
Ceteris paribus, an increase in output (Y) causes the real money demand to {INCREASE, DECREASE, NOT CHANGE}, resulting in the real money demand curve to {SHIFT UP, SHIFT DOWN, NOT SHIFT}. As a result, at the new equilibrium in the asset market, the r..
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