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Joans Nursery specializes in custom-designed landscaping for residential areas. The estimated labor cost associated with a particular landscaping proposal is based on the number of plantings of trees, shrubs, and so on to be used for the project. For cost-estimating purposes, managers use two hours of labor time for the planting of a medium-sized tree. Actual times from a sample of 10 plantings during the past month follow (times in hours).1.7, 1.5, 2.6, 2.2, 2.4, 2.3, 2.6, 3.0, 1.4, 2.3With a .05 level of significance, test to see whether the mean tree-planting time differs from two hours.
a. State the null and alternative hypotheses.
b. Compute the sample mean.
c. Compute the sample standard deviation.
d. What is the p-value?
e. What is your conclusion?
The Budget Line: The Consumer Constraints The consumer would like to maximize his satisfaction by reaching the highest possible indifference curve. But in the process, he faces
Select a particular public policy with which you are familiar and discuss two positive and two negative aspects of that policy. b. What goal do you think the policy makers were try
ACCOUNTING SYSTEM-EXAMPLE IV Now consider the economy as in example III. In the next year same outputs were produced and the same incomes were paid out. However, the household
Aggregate Consumption This is the aggregate of all expenditures on current consumption goods and services i.e. those which are consumed during the period. Living standards are
Q. Demand for money and GDP? The demand for money also relies on the GDP as GDP is closely associated to national income. If you choose to hold a fixed proportion of your wealt
Which of the following is assumed in constructing a typical production possibilities curve? a. the economy is engaging in international trade. b. production technology is fix
This problem revolves around determining the LM curve, as we did earlier in the term such that money demand (M D ) equals money supply (M S ), however in this instance under differ
Maximum profits will occur at the output level where is the greatest vertical distance between Total Revenue(TR) AND Total Cost(TC. uSE THE TOTAL REVENUE-TOTAL COST CURVES TO Illus
given the market demand curve is P=a-bQ and MC=D. derive mathematicaly a perfect compettition, B monopoloy, C, Cournot Duopoly, D cournot Tipopoly, E cournot quadropoly, F Stackleb
what is the impact of interest rate in consumption
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