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1. There are two goods: servings of vegetables v and number of cookies c. As an economist, a parent wishes to use economics to encourage healthy eating by his child, Ricardo. Therefore, the parent charges Ricardo $1 for each cookie he eats but pays Ricardo $2 for every serving of vegetables he eats. As an additional check to ensure healthy eating, Ricardo is allowed a maximum of 10 cookies. Ricardo is also given an allowance of $5. Note: there is no time dimension here. For example, Ricardo cannot save cookies for later or consume cookies that were saved previously.
a. Make a graph with the servings of vegetables v on the horizontal axis and the number of cookies c on the vertical axis. Draw the budget set, specifying the bundles at any intercepts or kinks.
Calculate the 95% confidence maximum error of estimate for a binomial experiment of 1027 trials that result in an observed proportion of .47.
You've been hired by the Dean of students at a local college. The dean wants to learn more about why students withdraw from their programs prior to completing their degrees. You develop the following. J = the event that a student leaves the progra..
Calculate the average, sample variance, and sample standard deviation.
A small accounting firm pays each of its six clerks $35,000, two junior accountants $80,000 each, and the firm's owner $320,000.
He ordered 36 more roses than carnations. The remaining 60 flowers were daisies. How many more roses than daisies did Philip order?
We want to know if vitamin C has been lost during transportation and storage. Describe what the data show about this question. Then use a rank test to see whether there has been a significant loss.
If you must estimate the population mean within 2 days, how many outside salespeople should you sample? Use the 90 percent confidence level.
What is the 95% Confidence Interval for the true population slope between Wins and Saves and what is the standard error of the estimate and what are its units?
Urn3 contains 4purple balls and 5red balls. If one of the urns is selected at random and a ball is drawn, what is the probability it will be purple.
A deck of cards is shuffled and dealt to four players, with each receiving 13 cards. find. The probability that the first player holds all the aces.
a. Construct a simple tabulation in which the counts are according to the type of engine. b. Construct a cross-tabulation describing the fleet, using type of engine and type of transmission as the categorization variables. c. Construct a display sh..
Using a significance level of .01 to test this hypothesis, what is your decision rule?
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