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The following frequency distribution reports the number of dollars spent for a group of people during last week.
Dollars Frequency Relative Frequency Midpoint Cumulative Frequency360 up to 420 28420 up to 480 24480 up to 540 16540 up to 600 8600 up to 660 16660 up to 720 4
(a) How many people participate in the study?
(b) Calculate the Relative Frequency and enter the results in the above table.
(c) Calculate the Midpoint for each class and enter the results in the above table.
(d) Calculate the Cumulative Frequency and enter the results in the above table.
(e) Construct a Histogram.
(f) Construct a Frequency Polygon.
(g) Construct a Cumulative Frequency Polygon.
Assume that population is 100 in year 1 and 102 in year 2. What is the growth rate of real GDP per capita? (Instructions: Round your answer to two decimal places.) The growth rate of the economy's real GDP per capita = %
Suppose you own a movie theater and most of your costs (the band, security, the land rental, etc.) are independent of how many people show up. What is likely to be the point elasticity of demand at the price you decide to charge
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the manager of Burger Man - a firm that rents a spot to sell burgers at Easy University. Based on estimates provided by a consultant, burger demand (monthly) and cost functions for meals are Q= 2500-250P and C= 500+ 2Q (MC=2), respectively.
Suppose you have some information on a sample of investment bankers, and are interested in impacts of height and of seniority on their success.
The capital investment cost for a switchgrass-fueled ethanol plant with a capacity of 250,000 gallons per year if $1.4 million. The cost-capcaity factor for this particular plant technology is 0.59 for capacities ranging from 200,000 gallons per y..
Joe has never trusted banks and always kept his money in cash. Joe pulls out his money jar, discovers that it has $20,000 in it, and decides it is unsafe to keep that much cash. Joe stops at the Local National Bank the following day, opens a check..
Firm A has done a market study and knows whether demand is high or low, but Firm B does not. The two firms choose quantities simultaneously. Find the Bayes Nash equilibrium in this game.
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