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Suppose you have 2 friends, one is tall, about 6 feet tall and has a GPA of 3.80. Also your other friend who is also tall has a GPA of 4.0. This make you wonder if a person's height has any association with their GPA. You decide to conduct a study and collect data on the topic. Which of the following is the best graphical representation for this problem.
a. Scatterplot. I will label height as my explanatory variable and GPA as the response.
b. Line graph. I will record the time it takes for them to record GPA.
c. Scatterplot. I will record height as my response and GPA as my explanatory variable.
d. Pie chart. These variables are categorical.
from the scenario assuming katrinas candies is operating in the monopolistically competitive market structure and faces
Sally owns a ceiling fan company. Last year, she sold 1300 ceiling fans at $60 each, and each fan costs her $30. Before going into the ceiling fan business, she worked as a fan-dancer at $38,000 a year.
For a firm in the widget industry, X = 100L - L2; where X is the quantity of widgets produced, and L is the number of labor hours hired. The demand for this firm's output is perfectly elastic at a price of $1 per widget. First suppose that the firm i..
In an open economy with few capital restrictions and substantial import-export trade, a rise in interest rates and a decline in the producer price index of inflation will
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You have been provided with an Access database that contains sales data from a small bakery. The data has information about the client, bread type, cost to produce the bread and sales. You have been tasked to provide a few reports. Provide and descri..
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
Using the same production function as in question 4 {ie: q = (K^1/2 + L^1/2)^2} suppose that the firm is now operating in the long-run. Solve for the long-run cost function (i.e. total costs as a function of input prices and output).
Given the technology and the amount of other resources available, the position of the demand for labor depends on the
Consider the following Oligopoly market with two firms which produce a differentiated product and have the following demand functions. q1= 10 – P1 + (P2/2) q2 =10 – P2 + (P1/2) Total Fixed Costs to either firm is 10 dollars and there are no variable ..
The United States purchased Alaska in 1867 for $7,200,000. Assume that federal tax revenue from the state of Alaska (net federal expenditures) is $56,500,000 in 2018 and that tax revenue started in 1868 and has steadily increased by 3% annually since..
Graph the demand and supply curves with appropriate intercepts. Calculate equilibrium. Calculate Demand Price Elasticity and interpret. Calculate Supply Price Elasticity and interpret.
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