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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?
What is the formula for consumer price index?
How much will your firm's total revenues (revenues from both products) change if you increase the price of good X by 2 percent?
A group has chartered a bus to Atlanta. The driver costs $200, the bus costs $500, and parking in Atlanta will be $90. You have already paid $700 to reserve the bus and a driver. T
Desired Aggregate Spending Desired aggregate spending refers to the volume of purchases of the currently produced goods and services that all spending units in the economy wish
mundell-Fleming Model
uses of national income statistics..
What causes economic growth? Causes of economic growth: Into the Solow model, economic growth is based onto the quantity and quality of technology and resources. Growth
The hypotheses are: The null hypothesis, infers that a unit root exists, whereas the alternative hypothesis, concludes that there is no root. Decision rule:
effects of tax increase on the gross domestic product
Suppose that a household in a two-period model has income of $30,000 in period 1 and $25,000 in period 2, and the interest rate is 75 percent. Assume that the price of the good is
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