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A certain type of cattail plant has a height that is normally distributed with a mean of 1.5 feet and a standard deviation of 0.1 feet. Suppose a biologist wishes to test if cattails growing in polluted waters are, on average, shorter. He takes measurements of 20 randomly selected cattails in a polluted lake and measures their lengths. He obtains a mean length of 1.45 feet.
a. If he were to conduct a hypothesis test for his theory, what would be the null and alternative hypotheses?
b. Compute the value of the test statistic.
c. Compute the p-value.
d. What conclusion would he reach based on the results of his hypothesis test? Use α = 0.05.
Social Security Do you think the federal government should increase spending on Social Security and Medicare for the elderly? If not, how should the elderly fund retirement and medical costs? Provide research support for your positions.
How might you construct a measure of the "change in the price level" What additional information might you need to construct your measure.
Describe the long-term trends in inequality in the United States using the available measures. What are possible explanations for these long-term trends.
Suppose a country has had a high and relatively stable inflation rate for a long time. How might this affect the costs and benefits of inflation reduction?
The inverse demand and supply functions for ideal milk in Legon are:
Acquisitions are entry strategies for expansion through the purchase of an existing organization, a unit of an organization, or a product or service.
The unemployment rate measures only the fraction of the labor force searching for work. Sometimes economists are interested in the length of time that unemployed have been out of work. One convenient summary measure is the median duration of unemploy..
In a local? market, the monthly price of Internet access service decreases from ?$20 to ?$10?, and the total quantity of monthly accounts across all Internet access providers increases from 90,000 to 190,000. What is the value price elasticity of? de..
A monopolist faces the following demand curve: P = 120 - .02Q . The firms cost function is given by C = 60Q + 25; 000: Assume that the firm maximizes prots. What is the level of production, price, and total profit per week? What will be the level of ..
Which Theorem accounts for the change in total capital between autarky and free trade? What does this theorem predict will happen with this change?
How are some companies able to successfully cross generational lines to market their product?, can you name a company or companies? How do they do it?.
one year later, the new class discovered that, at a price of 30 cents per can, the number of cans has fallen to 125 and two revenues are down. (A) Compute the price elasticity of demand in the first and second cases. (B) Explain what may have happ..
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