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These two questions are about population proportions.(a) In baseball data set, it was found that out of the 59 baseball players, 15 were left-handed. Is this odd, since the proportion of left-handed males in America is about 11%? Answer this question by constructing a 95% approximate confidence interval.(b) Let Y be a Binomial random variable with n = 300, and probability of success p. If the observed value of Y is y = 75, find an approximate 90% confidence interval for p.
With a high and growing US trade deficit, many hope that a depreciation of the dollar would help close the deficit. Explain the logic behind this prediction.
You are the manager of a firm that receives revenues of $40,000 per year from product X and $70,000 per year from product Y. The own price elasticity of demand for product X is -1.5, and the cross-price elasticity of demand between product Y and X..
What are the contributions of these transactions to GDP in the years 2013 and 2014?
Briefly describe three factors that could shift the aggregate supply curve of the economy to the right. Briefly explain the difference between the deficit of the Federal government and the National debt of the United States.
An industry is composed of 20 firms, all with equal sales. The Herfendahl Index ratio in this industry is a. 1000 b. 500 c. 800 d. This cannot be determined from the information given.
Explain in detail how each of these forces influences the auto industry, and propose how the auto industry should respond or react to each force. Businesses not only respond and react to external forces, but can also attempt to influence them.
Discuss actions governments can use to restrict free trade; give at least two specific examples and explain the advantages and disadvantages of government restriction on free trade in each situation.
If the government subsidizes private colleges and sets the subsidy so that the efficient number of students will enroll in college, what is the subsidy per student? How many students will enroll?
When Coca Cola introduced a new, low calorie version of Coca Cola called C2, despite a major marketing effort, sales of C2 were weak and by the fall many doubted that the product would last. Coke's experience with C2 illustrates the economic conce..
A, B, and C have the following preferences for fruits: A: apples > bananas > peaches > pineapples B: bananas > apples > pineapples > peaches C: apples > pineapples > peaches > bananas Use the Borda Count method to determine the most preferred fruit.
Suppose that the money market is initially in equilibrium for an economy. Describe with the aid of a diagram how market adjusts to an increase in money supply, an increase in real GDP
1) Suppose that ms. Spencer is presently spending all her budget purchasing 10 units of A and 8 units of B at prices of $2 and $4 respectively. The marginal utility of the last units of A and B are 16 and 24 respectively. These data suggest that..
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