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If on average, a sample statistic equals a population parameter, then that statistic is considered Select one: a. unbiased b. normal c. standard error d. consistent e. a parameter
Illustrate what we didn't realize at the time was that our fixed costs were underestimated by at least 30 percent. This means that we will have to adjust our price upward by at least.
Clear Water Company has a down-hole well auger that was purchased 3 years ago for $30,000. O&M costs are $13,000 per year. Alternative A is to the keep the existing auger. It has a current market value of $12,000 and it will have a $0 salvage value a..
(Population growth and technology growth) Consider an economy that is described by the production function Y= K^1/2 (LE)^1/ 2. Moreover the depreciation rate of capital is (delta) o = 0.15, the population growth rate is n = 0.05 and the technology gr..
The PSNOI company manufactures blue and white sweatshirts. This week the price of the sweatshirts increased from $90 to $100. The quantity sold decreased from 200 to 173. Is the change in price elastic, inelastic, or unitary? [Show your work and expl..
Sergei is a computer programmer with a utility function equal to U=Y+120L-L . He contracts with Uber that allows him to set his own work hours; they pay him $50/hour. He has allocated himself a work-hour time budget of a maximum of 250 hours per mont..
If you have been offered $137,000 for a job in Los Angeles and $117,000 for a similar job in Dallas, which job gives you the higher purchasing power of the bundle of goods in the price index.
Sales personnel, whether selling life insurance, automobiles, or pharmaceuticals, typically get paid on commission instead of a straight hourly wage. How does pay in a commission help solve the principal-agent problem between the owners of a business..
John is walking down the street. He is carrying explosives in a paper bag. John sees a friend and goes to waive at the friend dropping the bag and causing an explosion. Mary who was 5 feet away is injured by the explosion. Explain whether each of the..
Show why the firm should not be charged a per-unit tax on the firms output to compensate for the pollution it discharged into a major river. Devise a game plan for responding to the questions that will be raised in the joint session of the subcomm..
Say you owe money to Big River Bank. Will you gain or lose from an unanticipated decrease in inflation? How could inflation make people turn to exchange by barter? What impact will free trade have on economic growth?
Assume monetary benefits of an information system of $50,000 the first year and increasing benefits of $5,000 a year for the next four years (year 1 = 50,000; year 2- 55,000; year 3 = 60,000; year 4 = 65,000; year 5 – 70,000). One-time development co..
At what level must be a ceiling price imposed upon the monopolist's market to cause the monopolist to supply the efficient quantity supplied?
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