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1. The Odd estimator of the population average gives each odd-numbered obser- vation a weight of 2/n. Apply this estimator in the UnivariateSample sheet. What do the weights in column D look like?
2. Use the Monte Carlo simulation add-in to analyze the sampling distribution of the Odd estimator. Is it biased? What part of the Monte Carlo results did you use to answer this question?
3. Would you prefer the Odd estimator or the Sample Average estimator? Explain your choice.
4. Explore the consequences of changing the error distribution from normal to uniform in the UnivariateSample sheet. (Section 14.6 compares the normal and uniform distributions.) Replace the normalrandom formula in column B with the uniform function. What effect does this have on the sampling distribution of the Sample Average? In your answer, comment on the expected value, SE, and shape of the sampling distribution.
5. From the UnivariateSample sheet, use Excel's MEDIAN function to compute the sample median of the observed Y values. Use the Monte Carlo simulation add-in to race the Median against the Sample Average. Who wins? Why?
Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.
Some commentators have argued that the failure of the “Super committee” is good thing for the economy? Do you agree?
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Problem based on Oligopoly and demand curve, Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?
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Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..
Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:
Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..
"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
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