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A school administrator claims that the standard deviation for eighth-grade students on a science assessment test is less than 36 points. A random sample of 22 eighth-grade students has a standard deviation of 33.4 points. At α = 0.10, is there enough evidence to support the administrator's claim?
England and Scotland both produce scones and sweaters. Suppose that an English worker can produce 80 scones per hour or 1 sweater per hour. Suppose that a Scottish worker can produce 20 scones per hour or 2 sweaters per hour. Give an example of a tra..
Between January and December 1994, U.S. unemployment fell from 6.7 percent to 5.4 percent of the labor force. The Federal Reserve, the nation's monetary-policymaking authority, took active measures beginning in February 1994 to raise short-term inter..
In a new, highly automated factory, labor costs are expected to decrease at an annual compound rate of 5 %; material costs are expected to increase at an annual compound rate of 6%; and energy costs are expected to increase at an annual compound rate..
If Live Theaters charges one price to all patrons, what would it be. Illustrate how many customers would it serve.
An incumbent and entrant face a market of 100 buyers. Each buyer has a RP of $100 for the incumbents as well as entrants product. At each round each buyer is interested in buying no more than one unit of the product. In the ?rst round, the incumbent ..
If you have a series of cash flows, each of which is positive, you can solve for I, where the solution value of I causes the PV of the cash flows to equal the cash flow at Time 0.
Monsanto, Corp paid dividends of $2.80 last year. Over the next three years the earnings and dividends are expected to grow by 10% per year. Thereafter, assume that the dividends will grow at a 5% rate forever. If investors required return on Monsant..
Which of these transactions do not get counted in GDP--sale of a used piece of furniture, income of a drug dealer, income of your teenage babysitter, daycare services, services of a doctor, a condo built in 2004 resold today, purchase of a brand new ..
Suppose you are the owner-operator of a gas station in a small town. Over the past 20 years, you and your rival have successfully kept prices at a very high level. You recently learned that your rival is retiring and closing his station in two weeks...
A perfectly competitive industry is initially in a short-run equilibrium in which all firms are earning zero economic profits
John Smith expected income in period two is unchanged. Illustrate graphically explain how this job loss affects John's consumption in periods one and two.
What role does elasticity have on decisions made in the market? How does the availability of substitutes affect the price elasticity of demand? Explain using examples from your experiences.
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