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IIQ scores are normally distributed with a mean of 105 and a standard deviation of 18. Assume that many sampkes of size n are taken from a large population of people and the mean IQ score is computed for each sample. (a). If the sample size is n =64, find the mean and standard deviation of the distribution of sample means.
Assume that the price of x is $2 and the price of y is $1 and Brian has an income of $10. How much does he consume of each good? Assume Brian's income increases to 20$, calculate his demand for each good and explain whether Brian considers x and y to..
q. 1. does the mincer model take unequal access to education into account? discuss the shortfalls of this model in that
The firms cost functions are given by the following functional form: C(qi)=ciqi, where i=1,2. Under this functional form, the firms marginal cost equals its average cost. Discuss each firm’s best-response function when the firms compete by choosing p..
A widget manufacturer has an infinitely substitutable production function of the form: q=4k+3L A.) Graph the isoquant maps for q=24, q=48, and q=60. What is the RTS along these isoquants? If the wage rate (W) is $1 and the rental rate on capital (R) ..
Firms can have: Accounting profits and economic losses, Accounting profits and economic profits, Accounting losses and economic losses, Accounting losses and economic profits.
Subsequently the customer paid the balance on 22 October 2012. To customer the Credit terms offered.
Each camera requires one lens. Explain how many cameras will Cam co produce also Illustrate what price will be charged for each.
What is the mechanism in the economic system that guarantees the saving of the economy will always equal the investment of the economy? You may assume a closed economy in answering the question.
A hedonic regression is run on the selling prices P of houses near an airport that sold within the last five years that results in the equation P =500000−400×N+0.75×income where P is the most recent selling price in current year dollars, N = 50/d, an..
Despite a great marketing campaign or despite a very poor marketing campaign, a simple jingle or tag line is often enough to keep the brand memorable. Does a tag line/jingle have the ability to help, or would even be appropriate for each mega brand i..
Discuss a few kinds of bias. Why do investigators need to be award of potential bias?
A consumer receives income y in the current period, income y in the future period, and pays taxes t and t' in the current and future periods, respectively. The consumer can lend at real interest rate r. the consumer is given two options.
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