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1. A medical researcher wants to investigate the effect of different pain medications on people suffering from migraine headaches. Twenty-one people who had recently seen a doctor for migraine headaches were randomly assigned to receive one of three pills: drug A, drug B, or a placebo (drug C). Each participant recorded their pain level three times a day at regular intervals for one week (pain was recorded on a 1 to 10 scale, with higher scores indicating greater pain). The average pain level over the one-week period was calculated for each participant and is reported below. Use the five-step model to test the hypothesis of no difference in the reported pain levels between the groups. Test at α=.05.
2. An experiment in teaching introductory biology was conducted at a large university. One section was taught by the traditional lecture-lab method, a second was taught by an alllab/demonstration approach with no lectures, a third was taught entirely by a series of videotaped lectures and demonstrations that students were free to view at any time and as often as they wanted. Students were randomly assigned to each of the three sections and, at the end of the semester, random samples of final exam scores were collected from each section. Use the five-step model to determine if there is a significant difference in student performance by teaching method. Test at α=.05. How much of the variation in student performance can be explained by teaching method?
This document contains various important questions and their appropriate answers in the subject field of Economics.
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.
Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..
Explain each of the following using supply and demand diagrams, With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.
The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.
Draw the production possibility curve and a. Define consumer surplus and producer surplus.
The Australian government administers two programs that affect the market for cigarettes
How many tickets to sell to maximize total welfare.
The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled
Depict the von Neumann-Morgenstern utility index u in a diagram
What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution
Calculate gross national product and net national product
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