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You have conducted a test and have this information: p = .03 and a = .05, what is the probability that you will make a Type 1 error?
If you want to decrease the chance of making a Type 1 error what should you change?
You have conducted a test to measure the effectiveness of two different text books. Your results were statistically significant that
Textbook 1 results in higher grades than Textbook 2. The class is currently using Textbook2. What else would you like to know before you recommend changing textbooks?
Consideration is being given to the investment of $420,000 at time zero for machinery and equipment to be depreciated using 7 year straight line depreciation starting in year 1 with the half-year convention. Annual sales are projected to be $450,000 ..
Think about all the economic data that are reported in the news every day. The information from all of them may be relevant, but does a policymaker really need to know any more about the state of the economy than the level of output and the inflation..
Discuss what would happen to the health production function if there was a total ban on cigarettes in the U.S. What would happen to the total product with respect to medical care, as well as the marginal product? Explain the assumptions underlying th..
Future value of an annuity Your client is 36 years old; and she wants to begin saving for retirement, with the first payment to come one year from now. She can save $5,000 per year; and you advise her to invest it in the stock market, which you expec..
Explain what is meant by the principal agent problem, and relate it to shirking. What are the different pay incentive plans that correct for shirking on the job? How does profit sharing reduce shirking? What is the reason for efficiency wages?
In a two-country, one-good model, Trinidad and Jamaica both produce only rum. The domestic price of one bottle of rum in Jamaica is 10 Jamaican dollars
Why should an economist object to including overhead costs in CMA analysis? A clinic finds that it can reduce costs by eliminating appointments. The clinic is able to eliminate some telephone staff, and physicians become more productive. Patients wai..
Find the present-value equivalent to the following geometrically increasing series of payments.
Characteristic of a flexible exchange system. Interest rate expectations under interest rate parity, assume interest rate holds what happens to exchange rates. Explain how the environment of a multinational impacts repatriation of foreign profits.
Is engineering economic analysis concerned with both types of cost? Give an example of each, and provide the context in which it is important.
Use the principles of supply and demand to address a predetermined goal (set by you) in the gasoline market. Be clear on what the current market indicates and why and what your future goal is. We will probably revisit some of your choices in future m..
What are some key indicators of a company with a strong balance sheet?
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