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Suppose you have a sample of body weights from a population of males above 20 years of age. Your sample size is 121 men. Body weights are approximately normally distributed. Your sample mean is 190 pounds, and your estimated population standard deviation is 44 pounds. a. What is the estimated standard deviation of the sample mean? b. Construct a 95% confidence interval for the population mean. c. Develop a hypothesis test that can be used to determine whether the population’s mean body weight is different than 180 pounds. Use a significance level of 5 percent. (i) Construct a test statistic for this your test (ii) Indicate whether you reject the null hypothesis or do not reject, and why.
An individual derives utility from consumption goods, X, and leisure time, N, to maximize the daily utility level, u = XN. Outside income per day is $m and the price of consumption goods is $p. How many units of consumption goods will be produced?
Martha has the utility function U(x, y) = min {4x,2y}. Write down her demand for x and y as functions of the variables m, px, and py, where m is income, px is the price of x, and py is the price of y.
Examine the effects of supply and demand of milk. How do markets operate to bring this product into existence? Think about how these different markets work together to create a new product. How does that relationship affect supply and demand for the ..
How might freeing up dead capital have helped to increase Mongolia’s rate of economic growth? What type of investment would foreign residents undertake if they were to purchase a small fraction of the shares of stocks owned by Mongolia’s residents?
Describe why this does not represent a violation of the law of demand. Which of the subsequent best explains illustrate what a forward contract.
Assume that a nation faces a BOP deficit with high unemployment what exchange-rate adjustment can be made to resolve these problems? What if the nation experiences a BOP surplus with inflation?
Explain how an improvement in lifestyle would alter the shape of the total product curve for medical care. (Assume that both total product and marginal product will increase). Also provide a graph to illustrate your answer.
Suppose a government wishes to ensure that its citizens can afford adequate housing. Consider three ways of pursuing that goal. one method is pass a law requiring that rents be cut by one-fourth.
If you deposit $2000 in a bank and if the annual interest rate is 2% in year 1 and 5% in year 2 and 8% in year 3, how much money will you have in your account at the end of year 3 if you don’t withdraw any money from this account? Explain your answer..
Discuss at least two alternative measures of national welfare that have been put forward? What are the primary strengths and weaknesses of these alternatives and discuss at least two alternative measures of national welfare that have been put f..
q.for this assignment you are to continue using the fortune 500 verizon wireless company. the focus here is on its
Calculate quantity, total revenue and profit when the company maximizes its profit and changes the same price in both markets.
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