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Question - Suppose, according to a 1990 demographic report, the average U. S. household spends $92 per day. Suppose you recently (in 2021) took a random sample of 81 households in Huntsville and the results revealed a mean of $85.40. Suppose the standard deviation is known to be $12.40.
a. Can it be concluded that the average amount spent per day by U.S. households has changed?
b. What is 95% confidence interval for the mean of daily household spent? What does this interval mean?
Explain the viewpoints of classical and Keynesian economists.
Consider a hypothetical labor force dynamics scenario for the month of November 2010. The stocks are the following: unemployed (U) = 5 million, employed (E) = 10 million, and Not-in-the- LF (~LF) = 3 million. From the beginning of November to the ..
What is the equilibrium price and quantity in this market?
Use the Microsoft SQL Server 2012 online documentation to answer the following questions.
Suppose that the demand for and supply of bonds both change with the state of the business cycle. In economic expansions, the demand for bonds is given by the equation D = 200 + 2,000r and the supply of bonds is S = 500 - 1,000r.
Determine the optimal strategy for cash management for a person who earns $1,600 per month, can earn .percent interest per month in a savings account, and has a transaction cost of $1.
ECO 520 - FALL 2015 - FINAL EXAM. The Simple Linear Model- The simple linear regression tries to better understand the functional dependence of one variable on another. Write down the likelihood function for the model, that is, the joint pdf of Y1, ...
Sam purchased a machine 4 yrs ago at at cost of $8,000. It has a book value of $2300. It can be sold now for $4,300, or it could be sold for 3 more yrs,at the end of which time it would have no salvage value. assuming it is kept for 3 more yrs.
If a patient's true ALT concentration is 35 U/l, what is the probability that his specimen will be flagged as "unusually high"?
Historical records show that 70 structures with 800 square feet of floor space and 8 foot ceilings were produced in 1999.Then the materials cost for each structure was $25,000 and the cost capacity factor is 0.65. Cost index values for 1999 and 20..
Over what horizon is the assumption of fixed prices a valid one? Explain.
Suppose that the price of apples falls to $12 per box, but the wage rate remains at $200. Now, live happley should hire? (1,2,3,4,5 workers) Assuming that all the apple-producing firms have a similar production schedule, a decrease in the price o..
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