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1. Using the data given below, calculate the linear correlation between the two variables x and y.
X 1 8 2 1 5
Y 0 7 8 5 6
2. The data below shows the number of years of education beyond high school (X) and income (Y) (in tens of thousands of dollars). Calculate the correlation coefficient r.
X 4 8 1 8
Y 5 6 3 5
Describe the relation between marginal and average costs. Describe the relation between marginal and average fixed costs. Describe the relation between marginal and average variable costs.
Using the diagram from part a) as a guide, explain why GDP per worker grew more quickly in West Germany, France, and Japan relative to the U.S.
A state government has the option of damming a major river to generate energy and divert water to local agriculture. The cost of constructing the dam and associated infrastructure is 100 million. What is the present value of the returns to building t..
Explain the levels of economic integration and trace the evolution of economic integration in Europe.
Calculate the percentage change in nominal GDP, real GDP and the GDP deflator in 2009 and 2010 from the preceding year. For each year, identify the variable that does not change. Explain in words why your answer makes sense.
You are an officer of a commercial bank and wish to sell a car loan that the bank owns as an asset to another bank. Using the following equation, compute the price you expect to receive for the loan if the annual interest rate is 6 percent, the car p..
In equilibrium, approx what is the firm's total cost and total revenue. Illustrate what is the firm's economic profit or loss in equilibrium.
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How and why have population demographic changes, disease pattern changes, increased costs, and increases in supply and demand for health care services impacted the US health care system?
Write a business letter. The company A is known for its firm stance on the Commission openly states that it is standard for all partners, though there is a reason to believe that the exception is still being made, and it is likely that we have just ..
Assume that the price of 1 mile is $10 and the price of a unit of all other goods is $1.
Assume that labor demand for low-skilled workers in the United States is: w = 24 – 0.1E where E is the number of workers (in millions) and w is the hourly wage. Assume there are currently 120 million domestic U.S. low-skilled workers who supply labor..
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