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Econometrics - Hypothesis testing.
How many people should you survey? You want to take a random sample of likely voters in order to estimate the proportion (p) of voters in that population who prefer candidate A over candidate B. You need to decide how large a sample you should take.
(a) It’s expensive to survey many people, so in your first try you just go ahead and take a modest sample of size 40. In this sample, 25 people support A. Based on this sample, compute a 95% confidence interval for p. Can you reject, at 5% significance, that the candidates have equal support (p = 0.5)?
(b) Suppose that, in fact, p = 0.51 (that’s in the population, not in your sample). How large will your sample size n need to be in order to detect such a departure from 0.50 (equal support) with 5% significance (i.e. give you enough power to detect a difference of 0.01)?
describe how current economic conditions affect your organization or one with which you are familiar. Identify most important economic indicator affecting your organization and elucidate why.
Please explain the incentive problem associated with fee-for-service insurance reimbursement. How does switching to capitation reimbursement solve this problem? Can you make an argument that capitation creates a different incentive problem?
If a producer offers a price that is below a consumer's valuation of the good, the consumer:
When demand is elastic, an increase in price causes quantity demanded to______________ and total revenue to__________. When demand is inelastic, a decrease in price causes quantity demanded to ____________and total revenue to__________. If price rise..
Look at the figure The Production Possibility Frontiers for Jackson and Tahoe. In autarky, Jackson produces and consumes 30 head of cattle and 80 bushels of wheat, while Tahoe produces and consumes 80 head of cattle and 60 bushels of wheat. With comp..
Which of the following will not cause the MPL to increase?
5 ways to develop strategic business and briefly discuss differentiate, customer-oriented, understand clients need, r-s platform and management, active marketing, etc
You are going to display what happens in the long run in perfectly competitive markets when firms are operating at a loss. Demonstrate the shift that will occur in the market in the long run if all firms in this market are operating at a loss. Identi..
Compare Country Alpha with Country Omega. Which country would you expect to have a higher unemployment rate in each of the following situations? Alpha has a larger share of its population under age 25; Omega has a larger share of its population betwe..
Which is more economical, a plant with a payroll of $400 a week, with $100 of overhead, and with an output of 100 units per week, or a plant with a payroll of $80,000 a week, an overhead of $100,000 a week, and an output of 50,000 units per week? How..
Comparative statics in Solow's Model. Explain how the following events affect output, capital and consumption per unit of labor in the long run and along the transition according to Solow's Model:
A typical university football program requires alumni to join one of several booster clubs (each club gets seats in different parts of the stadium) before the person can buy season tickets. What has this got to do with consumer surplus?
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