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Find the Sample Size
a. A pizza shop owner wishes to find the 95% confidence interval of the true mean cost of a large plain pizza. How large should the sample be if she wishes to be accurate to within $0.15? A previous study showed that the standard deviation of the price was $0.26.
b. A researcher wishes to be 95% confident that her estimate of the true proportion of individuals who travel overseas is within 4% of the true proportion. Find the sample necessary if, in a prior study, a sample of 200 people showed that 40 traveled overseas last year. If no estimate of the sample proportion is available, how large should the sample be?
When the government imposes a payroll tax on workers
How does private ownership influence the incentive of indi- viduals to (a) take care of things, (b) conserve resources for the future
What do you believe makes us human?
How do the six-digit North American Industry Classification System (NAICS) and the therapeutic market definition of the pharmaceutical industry differ in terms of seller concentration? Which do you think is a better measure? Why? Think in terms of ac..
Answer the questions in straight to the point short answers. please answer them as they are numbered. shouldn't be more than 500 words
If the interest rate is 6% per year compounded quarterly, how long (number of quarters) does it take earn $100 interest on an initial deposit of $300? Downtown is experiencing an explosive population growth of 18% annually. At the end 2002, the popul..
What if the government needs to purchase a single, large piece of property in order to provide a public good, say, a satellitetracking station? There is only one private owner with whom to deal. And his property is the only one that is suitable for t..
Assume that a monopolist has a demand curve given by P=1500-4Q, and TC= 100 + 5Q2 with MC=10Q. Calculate the dead weight loss. Calculate the consumer surplus and producer surplus.
Indicate whether each of the following involves an upward or downward shift in the long run average cost curve or, instead, involves a leftward or rightward movement along a given curve. Also indicate whether each will have an increasing, decreasing,..
The sales manager of a retail outlet suggests that the best way to increase the number of customers is to have a sale. If a 10 percent price cut doesn't bring in enough customers, then he'll cut prices 20 percent. Increased cash flow should take care..
Suppose you are given the following information about a particular industry: QD = 6500−100P is Market demand QS =1200P is Market supply C(q) = 722+(q2)/200 is the Firm's total cost function. Suppose the long run total cost function is given by C(Q)=6..
Annual Work Hours = ? + ?*(Average Hourly Wage) + ? You gather data on US workers aged 22 to 55 from the Current Population Survey. You define the Average Hourly Wage as self-reported total annual labor income divided by self-reported total annual wo..
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