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A regional commuter airline selected a random sample of 25 flights and found that the correlation between the number of passengers and the total weight, in pounds, of luggage stored in the luggage compartment is 0.94. Using the .05 significance level, can we conclude that there is a positive association between the two variables?
A suburban hotel derives its gross income from its hotel and restaurant operations. The owners are interested in the relationship between the number of rooms occupied on a nightly basis and the revenue per day in the restaurant. Below is a sample of 25 days (Monday through Thursday) from last year showing the restaurant income and number of rooms occupied.DayUse a statistical software package to answer the following questions.
a. Does the breakfast revenue seem to increase as the number of occupied rooms increases? Draw a scatter diagram to support your conclusion.
b. Determine the coefficient of correlation between the two variables. Interpret the value.
c. Is it reasonable to conclude that there is a positive relationship between revenue and occupied rooms? Use the .10 significance level.
d. What percent of the variation in revenue in the restaurant is accounted for by the number of rooms occupied.
After paying the movie distributors and meeting all other noninterest expenses, the owner expects to net $2 per ticket sold. Construction costs are $1,000,000 per screen. What is marginal benefits and marginal costs.
Consider what you have learned about the root causes, as identified by leading economic thinkers and policymakers.
Illustrate that there are any extra costs or benefits due to this shift.
Using the specific-factors model, elucidate why you might expect to see certain capital owners and labor groups arguing against expanding trade in a capital-abundant country.
Illustrate why the store's short-run equilibrium by plotting demand marginal revenue, average total cost,and marginal costs.
A profit-maximizing firm in a competitive market is currrently producing 100 units of output. Elucidate firm's profits, marginal cost, and average variable cost respectively.
Two Processes are under consideration for a certain production. Process A needs acquisition of a new machine which is estimated
Every Saturday morning he requires his sales staff to send him a report. This report Comprises, among other thing, the number of professors visited during the earlier week.
Illustrate what would be the size of the resulting deadweight loss relative to the competitive outcome.
Illustrate what must the central bank do to keep the peso cost of the dollar equal to Peso 3.4425 subsequent the speculators activities.
Illustrate what are some of the limitations of the national income accounts in how they represent our standard of living.
How much should it raise government spending, if the government looks to raise income to 3000.
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