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If a real estate agent wants to estimate the average age of those buying investment property in his area and randomly selects 15 of his clients who purchased an investment property and obtains the data shown below. The buyer ages are approximately normally distributed and the sample does not contain any outliers. How would I construct a 90?% confidence interval for the mean age for all the real estate? agent's clients who purchased investment property?
37 32 51 46 38
49 54 44 43 40
58 45 56 42 44
between patents and copyrights which reflects a free market and which is a grant of monopoly privilege by the state?
Your income rises from $1,000 a year to $10,000 and your purchases of beer increase from 10 to 20. Assume a linear relationship between income and quantity demanded. What number below most closely approximates your income elasticity at income equals ..
State whether each of the costs below is either sunk, opportunity, cash or book: Amount you paid for a piece of equipment last month: Value claimed for tax purposes on a depreciated soda filling machine:
Assume that yesterday the exchange rate between the euro and the Australian dollar was 1 euro = 0.6 Singaporean dollars. Assume that today the euro is trading at 1 euro = 0.70 Australian dollars. what domestic open-market operation can the Australian..
The Nash Equilibrium provided a new look at certain economic problems and won the Nobel Memorial Prize in Economic Sciences in 1994. Since it's creation, the Nash Equilibrium has been applied to "international relations" specifically for war and arms..
What are the major institutional changes that take place with economic development? Are these institutional changes causes or mere correlations of growth? Or is growth a cause of institutional change?
Assume that by devoting all of its resources to the production of steel, Japan can produce 50,000 tons of steel, and that by devoting all of its resources.
In the Great Plains states west of the Mississippi river, annual rainfall is less than annual water usage for irrigation. The level of groundwater in the Ogallala aquifer that underlies the region is dropping precipitously. On its western edges the a..
Consider a repeated game between a supplier (player 1) and a buyer (player 2). These two parties interact over an in nite number of periods. In each period, player 1 chooses a quality level q ∈ [0, 5] at cost q. Simultaneously, player 2 decides wheth..
Present an argument supporting the position that the ADA has been appropriately interpreted and applied by the courts (in terms of the types of disabilities covered), or that it has not (for example, that it has been overly interpreted and applied to..
Kermit is considering purchasing a new computer system. The purchase price is $135276. Kermit will borrow one-fourth of the purchase price from a bank at 10 percent per year compounded annually. The loan is to be repaid using equal annual payments ov..
It has been determined that, in aggregate, financial institutions with depository accounts currently hold excess reserves equal to $3 billion—that is, they hold $3 billion more than is necessary to meet the reserve requirements associated with existi..
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