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Average heart rate for Americans is 72 beats/minute. A group of 18 individuals participated in an aerobics fitness program at American Kickboxing of New York to lower their heart rate. After six months, there was evaluation conducted on the group to identify if the program had significantly slowed their heart. The mean heart rate for the group was 69 beats/minute with a standard deviation of 6.5. You need to construct a 95% confidence interval for the mean of all such heart rate levels to determine if the aerobics program was effective in lowering heart rate. What is the margin of error?
Is it safe to conclude changes in a nation's equity are better measures of economic health than changes to government debt?
A firm is currently producing 80 units of output. At this level of output produced, P = 150 and ATC = 120. Also assume that MC = 130 and MR is constant at all output levels and equal to 150. Is this firm making profits? If so, what are these profits?
Economists believe that it is generally not possible for firms in competitive and well-functioning markets to reap any extra profits from hiring superior factors of production in the long run. With the aid of diagrams, carefully explain the reasoning..
A price floor reduces the amount of a product that consumers buy because it keeps the price above the competitive equilibrium of market.
Consider a firm using labor and capital as its only inputs. The price of capital is $40 where the price of labor (wage) is $60. Using 500 units of labor and 500 units of capital the firm is producing 1200 units of output. At this mix of input the fir..
Assume that demand for good X is a function of its price (PX), the price of good Y (PY), and Income (M) as follows: QX = {(M + PY)/(2PX)} - 1 Given the following values for these variables: PX = 2; PY = 5; M = 51 (a) Calculate the (own) price elastic..
On October 4, 1996, Tenet Healthcare Corporation, the second-largest hospital company in the United States at that time, announced that it would buy Ornda Healthcorp.† what would Tenet Corporation consider to be the 15-year present value of Ornda Hea..
Which of the following ideologies emphasizes liberty on economic issues and traditional values on social issues?
What does mean that in microeconomics?
Lindsey is willing to purchase 2 bags of tortilla chips when the price of salsa is $2.50. If the price of salsa rises to $3 and she purchases only 1 bag of chip
Explain the unemployment rate in Tappania is higher now than it has been in 50 years. Can both of these statements be true at the same time.
How elastic/inelastic is the demand for Netflix services at the time of the price change? Do you think that their plan to increase prices was a good idea? How has Netflix fared since this decision to increase prices?
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