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A company claims that the mean monthly residential electricity consumption in a certain region is more than 870 kilowatt-hours. You want to test this claim you find a random sample of 63 residential customers has a mean monthly consumption of 900kwh. Assume the population standard deviation is 123 kWh. At 0.05 (right-tailed test), can you support the claim. Complete parts (a) through (e)
A year after buying her car, Anita has been offered a job in Europe. Her car loan is for $15,000 at a 9% nominal interest rate for 60 months.
If you are willing to pay $1400 for a used stereo that is a “cherry” and $280 for a used stereo that is a “lemon,” how much will you be willing to offer to purchase a stereo if there is a 50 percent chance that the stereo is a lemon? If owners of che..
We are trying to aggregate the preferences of three different individuals (Anna, Brian, and Chris) over three alternatives (movies, sports, and clubbing) in a democratic way. When we aggregate, we say that A is preferred to B if the majority prefers ..
Specifically describe how the size of the "float" (time it takes to clear a check from orignation through multiple banks) affects the money supply?
How does lower and middle management decision management differ from upper-management in terms of basic economics.
Which factors of globalization is involving quality. How might globalization involve your product or service also organization as it tries to achieve quality.
Suppose that the insurance company would set the premium by imposing a zero profit restriction. That is, the premium would be set to be (1+L)EB, where L is the loading factor and EB is the expected benefit. Let us assume that L = 20%. Based on this s..
Why is the equality of marginal revenue and marginal cost essential for profit maximization in all market structures? Explain why price can be substituted for marginal revenue in the MR=MC rule when an industry is purely competitive
Discuss one (1) recent price change that you have noticed while visiting your local supermarket. Determine whether or not the price change that you identified was a result of a change in either supply or demand.
Assume that equilibrium real GDP is 800 billion, potential gdp is 900 billion, the mpc is .80, and the mpi is .40 . What is the size of the GDP gap.
No durable goods spending= $400million, durable goods spending = $300 million, new residential housing spending = $200 million, and spending on services = $500 million. What does consumption equal?
Imagine an economy with only four markets: a market for Commodities (ie goods and services), a market for Labour, a market for Money and a market for Bonds. Show (prove) that if the markets for Commodities, Money and Labour are in equilibrium then th..
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