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The Wall Street Journal reported that automobile crashes cost the United States $162 billion annually (The Wall Street Journal, March 5, 2008). The average cost per person for crashes in the Tampa, Florida, area was reported to be $1599. Suppose this average cost was based on a sample of 50 persons who had been involved in car crashes and that the population standard deviation is σ = $600.
What is the margin of error for a 95% confidence interval? Round your answer to two decimal places.
Which of the following is not a necessary precondition for economic growth?
Would the effect on aggregate demand be larger if the Bank of Canada took no action in response, or if the Bank were committed to maintaining a fixed interest rate.
Illustrate what are the new long-run equilibrium values of these three variables.
Your product fails about 2% of the time, on average. Some customers purchase the extended warranty you offer in which you will replace the product if it fails. Would you want to price the extended warranty at 2% of the product price? Discuss both mor..
Explain the role of the Federal Reserve, who monitors it and is it effective in its job? Evaluate one of the strategies of the Federal Reserve
Since the movie, Avatar, 3-D movies have been popular and charged at a higher price, compared with the traditional 2-D movies. Please analyze the impact of 3-D movies on The price elasticity of demand on 2-D movies? The total revenue of movie theater..
Your company is bidding on a system design project. It is your job to design the system architecture. How will you balance the need for scalability against the need to keep costs as low as possible to win the bid?
If the current price of capital is $10 and the current price of labor is $25, is the firm employing the optimal input bundle for its current output?
Tammy Hall is the mayor of a large U.S. city. She has just established the Office of Window Safety. Because windows sometimes break and spray glass shards, every window in the city will now have to pass an annual safety inspection.
What would happen in the market for loanable funds if the government were to decrease the tax rate on interest income? Suppose you put $500 into a bank account today. Interest is paid annually and the annual interest rate is 8 percent. The future val..
What are some of the inherent problems involved in discussing the notion that there is a single standard for the “American family?”
Compare Australia with any other advanced economy and discuss their GDP last 2 to 5 years and factors affecting their GDP
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