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1. Eight male and eight female college students who have credit cards were surveyed and asked their total credit card debt. The responses are given below in dollars:
males
females
1000
1300
2100
200
900
1800
1200
500
2600
1400
700
Researchers wanted to determine if there is a difference in the mean credit card debt owed by males versus females. Using α = 0.10, is there a difference. (Show all six steps of hypothesis testing.)
2. The listing price of a random sample of two-year-old Honda Civics was obtained for four cities in the United States. (Source: www.cars.com, accessed April 2018.) The data are summarized in the table below. Assume that prices of two-year-old Honda Civics are normally distributed. At the 5% significance level, is there a difference in the price of the cars in these cities? (Show all six steps of hypothesis testing.)
Chicago
16000
18980
21480
14999
23541
18100
Los Angeles
18915
16748
16173
18667
New York
15500
13888
18880
12974
22395
Honolulu
19998
17999
18988
20999
Social Security has revenues of $1.8 trillion and expenditures of $1.3 trillion. The nonsocial Security budget has revenue of $2.1 trillion and expenditures of $2.4 trillion. The official budget will report a _______________ (deficit/surplus) of $___..
Explain the type of good that sugar should be classified as. What is the demand relationship between sugar and honey?
Hypothetical Country has $130 in currency, $520 in reserves, and $910 in deposits. Calculate the money multiplier. Calculate the reserve ratio. Use decimal number as an answer. Calculate money supply M1.
The equations of the demand and supply curves for a product have been reliably estimated as:
Compare the market-wide result of the individual perfectly competitive firms' choices of profit-maximizing output level with the choice of the monopolist. Explain the implications of the break-up for the profitability of industry members
If, at the output where marginal cost equals marginal revenue, both a pure competitor's and a monopolist's marginal revenue is $5.00:
Please take a few days to help me conduct a research on the history of crude oil prices and give me a 100-150 word essay on how recent crude oil prices are affecting gasoline prices at the pump or gas stations
Assume that the market for wheat is perfectly competitive, with demand curve P = 5000 ? 0.01QD and a supply curve P = 1+0.1QS. Each identical wheat producer has a total cost curve given by T C = 1+Q+Q2 , which results in marginal cost of MC = 1 + 2Q...
Future annual maintenance costs are expected to be higher. What is the economic life of this machine tool if it is kept in service?
Refer to the table below to answer the following questions. The table indicates labor hours needed to produce one unit of umbrella and bushels of corn
Why is this important? You may want to review material in Chapter 19 dealing with the real equilibrium in an open economy.
If banks operated under a 100 percent reserve system, commercial banks would not be able to create any further money. A vertical curve that defines the level of full-employment or potential output based on a given amount of resources, efficiency, and..
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