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A teacher hypothesizes that the students at her school are sleep deprived--specifically, that they on average get less than 8 hours of sleep daily. The teacher decides to test her hypothesis by collecting data on a random sample of 50 students from the school. Suppose she prespecifies a significance level of 0.075 for the hypothesis test and obtains a test statistic with a p-value of 0.08.
(A) What is the null hypothesis and what is the alternative hypothesis? Be specific.
(B) If the teacher rejects the null hypothesis, what is the probability of her making a mistake? How do you know?
(C) What maximum probability of making a mistake is the teacher willing to tolerate if she were to reject the null hypothesis? How do you know?
(D) At which conventional significance level(s) if any can the teacher reject the null hypothesis? Why?
How have developing countries been able to block developed countries' initiatives in the area of intellectual property and investment?
Why are some products elastic and some inelastic? What effect does currency depreciation / appreciation have on a appreciation have on a coconut export trade. Define and give an example of the resource curse. State two differences between a tariff an..
Assume that a monopolist has a demand curve given by P = 1500- 4Q, and T C = 100 + 5Q^2 with MC = 10Q. Calculate the dead weight loss. Calculate the consumer surplus. Calculate the producer surplus.
Which of the following products has the most elastic demand?
What are the main determinants of equilibrium of demand and supply?
A goal of expansionary monetary policy is to: Lower interest rates are generally charged on more risky investments and on securities that have longer maturities. The barter system requires the double coincidence of wants to be fulfilled.
(a) Identify any outliers and? (b) draw a modified boxplot that represents the data set.
Suppose that in 1984 the total output in a single-good economy was 7,000 buckets of chicken and the price of each bucket of chicken was $15. In 2005 the price per bucket of chicken was $20 and 23,000 buckets were produced. Determine the GDP price ind..
Provide web links for colleagues to use to get additional information about the techniques and tools.
Which one may under present quality. Describe concepts of prospective also retrospective payment for services.
How does Mancur Olson explain differences in economic performance of nations by the concept of public goods?
University of Chicago economist Christian Broda opines because the affluent tend to consume more goods and services that typically have less competition, this means their prices are less elastic than goods and services who are subject to greater comp..
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