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A study by the centers of disease control (CDC) found that 23.3% of smokers are adults and that roughly 70% of those who do smoke indicate that they want to quit (Associated Press, July 26, 2002). CDC reported that, of people who smoked at the point of their lives, 50%, have been able to kick the habit. Part study suggested that the success rose by education level. Assume that a sample of 100 college graduates who smoked at the point of their lives showed that 64 had been able to successfully stop smoking.
a. State the hypothesis that can be used to determine whether the population of the college graduates has a success rate higher that the overall population when it comes to breaking smoking habit.
b. Given the sample data, what is the proportion of college graduates who, having smoked at the point of their lives, were able to stop smoking?
c. What is the p-value? At a=0.01, what is your hypothesis testing conclusion?
Suppose a firm is producing concrete with the Cobb Douglas production function: c = s0.4g0.6 c = pounds of concrete, s = pounds of cement, g = pounds of gravel it wants to produce 10,000 pounds of concrete. Concrete is $10/pound and gravel is $2/poun..
A man wishes to set aside money for his daughter's college education. His goal is to have a bank savings account containing an amount equivalent to $20,000 in today's dollars at the girl's 18th birthday. The estimated rate is 8%
Country A has soil that is suited to corn production and yields 135 bushels per acre. Country B has soil that is not suited for corn and yields only 45 bushels per acre. Country A has soil that is not suited for soybean production and yields 15 bu..
With the assumption that A=1, and the share of labor in the national income is 1/2. Also K=120 million dollars and L= 10 million units and saving rate = 35% and the depreciation rate is 10%. How many periods it will take this economy to reach the ..
In the late 2010, you purchased the common stock of a company that has reported significant earnings increases in nearly every quarter since your purchase. The price of the stock increased from $12 a share at the time of the purchase to a current ..
She can, however, get insurance that would completely reimburse to her the $100,000 if her ring was stolen. What is the largest premium she would be willing to pay if her U-function is : (i) U = Y1/4 (ii) U = Y4 (iii) U = Y where Y denotes the amo..
Professor Moore forgets to set his alarm with a probability of .10. If he sets the alarm, it will wake him on time to make his first class with a probability of .95. If he forgets to set the alarm, he wakes up in time for his first class with a pr..
Monopoly Rinks is the only ice skating facility in Mapleville. The next closest rink is about 100 miles away. It has determined that its demand curve is Q = 123 - 0.5P - 0.25 Pc + .01 Y where Q is the quantity of seasonal passes sold.
the worker doing the mathematical operation by hand in 32 seconds, and with the computer application, the operation is doing in 16 seconds with a 50 % of improvement. (theoretic - experimental)/theoretical *100% is the used formula for the 50%
An industry consists of two firms with identical costs C(q) = 5q +q2=2. The firms can either collude or compete. If both collude, they each produce qm (half the monopoly output Qm). If one rm colludes and the other competes
Describe the effect of this change in units on the estimated regression coefficients and their standard errors, t and F-statistics, p-values, and the value of R 2 .
On January 2d, 2011, BMW expects to ship 19,000 Mini-Cooper cars from its affiliated plant in the UK to the US, which it will sell through US dealers on 300-day terms at $26,500 each. So BMW will receive payment from its dealers on October 28th
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