## Question 1

A professor at a university wants to estimate the average number of hours of sleep students get during exam week. On the first day of exams, she asked 28 students how many hours they had slept the night before. The average of the sample was 4 with a standard deviation of 1.484. When estimating the average amount of sleep with a 95% confidence interval, what is the margin of error?

1) 0.4777

2) 0.5754

3) 0.5745

4) 0.3298

5) 0.2804

Question 2

You own a small storefront retail business and are interested in determining the average amount of money a typical customer spends per visit to your store. You take a random sample over the course of a month for 11 customers and find that the average dollar amount spent per transaction per customer is $114.645 with a standard deviation of $18.2388. Create a 90% confidence interval for the true average spent for all customers per transaction.

1) ( 104.768 , 124.522 )

2) ( 112.833 , 116.457 )

3) ( 104.678 , 124.612 )

4) ( -104.678 , 124.612 )

5) ( 109.146 , 120.144 )

Question 3

The owner of a local phone store wanted to determine how much customers are willing to spend on the purchase of a new phone. In a random sample of 14 phones purchased that day, the sample mean was $368.758 and the standard deviation was $23.8051. Calculate a 95% confidence interval to estimate the average price customers are willing to pay per phone.

1) ( 366.598 , 370.918 )

2) ( 355.111 , 382.405 )

3) ( -355.013 , 382.503 )

4) ( 362.396 , 375.12 )

5) ( 355.013 , 382.503 )

Question 4

In a climate survey, it was determined that in a random sample of 15 days, the average temperature in Kalamazoo at 2:00 PM in the months of July and August is 73.38 degrees with a standard deviation of 3.798 degrees. Using this information, a 95% confidence interval for the average is (71.28, 75.48). Which of the following is the appropriate interpretation of this interval?

1) We cannot determine the proper interpretation of this interval.

2) We are certain that 95% of the days in the months of August and July will have a temperature at 2:00 PM between 71.28 and 75.48.

3) We are 95% confident that the average daily temperature for the months of July and August at 2:00 PM for the days recorded is between 71.28 and 75.48.

4) We are 95% confident that the average daily temperature for the months of July and August at 2:00 PM is between 71.28 and 75.48.

5) We are 95% confident that the proportion of all days’ temperatures will fall between 71.28 and 75.48.

Question 5

tSuppose that you are the director of table game operations at a large casino, known especially for its poker room. You are interested in determining the average number of hands the casino should expect per hour during peak hours in the poker room. You monitor the number of hands over the next week and given a random sample of 27 hours, you see that on average 188.6 hands are played per hour, with a standard deviation of 9.24 hands and you calculated a 90% confidence interval to be (185.6, 191.6). Your manager believes the true mean is 150.5. Which of the following is the best conclusion?

1) We are 90% confident that the average number of hands played per hour is greater than 150.5.

2) The average number of hands played per hour is not significantly different from 150.5

3) The percentage of hours in which more than 150.5 hands of poker are played is 90%.

4) We are 90% confident that the average number of hands played per hour is less than 150.5.

5) We cannot determine the proper interpretation based on the information given.

Question 6

As an avid golfer, you want to estimate your average score for 18 holes of golf. Suppose you know that the standard deviation of your score is 24.329 strokes and you want to find a sample mean that is within 6.127 strokes of your true average for all rounds of golf with 90% confidence. How many rounds would you need to play to determine this?

1) 42

2) We do not have enough information to answer this question since we were not given the sample mean.

3) 53

4) 48

5) 43

Question 7

In a consumer research study, several Meijer and Walmart stores were surveyed at random and the average basket price was recorded for each. It was found that the average basket price for 36 Meijer stores was $62.613 with a standard deviation of $10.724. Similarly, 58 Walmart stores had an average basket price of $62.471 with a standard deviation of $14.703. If a 99% confidence interval for the difference between the true average basket prices of Meijer versus Walmart is calculated, what is the margin of error? You can assume that the standard deviations of the two populations are statistically similar.

1) 7.439

2) 6.696

3) 2.82831539

4) 2.63032961

5) 7.285

Question 8

The owner of a local supermarket wants to estimate the difference between the average number of gallons of milk sold per day on weekdays and weekends. The owner samples 9 weekdays and finds an average of 222.41 gallons of milk sold on those days with a standard deviation of 32.336. 9 (total) Saturdays and Sundays are sampled and the average number of gallons sold is 374.33 with a standard deviation of 47.147. Construct a 90% confidence interval to estimate the difference of (average number of gallons sold on weekdays – average number of gallons sold on weekends). Assume the population standard deviations are the same for both weekdays and weekends.

1) (-183.27, -120.57)

2) (-185.19, -118.65)

3) (-1496.92, 1193.08)

4) (-170.98, -132.86)

5) We only have the sample means, we need to know the population means in order to calculate a confidence interval.

Question 9

It is believed that using a solid state drive (SSD) in a computer results in faster boot times when compared to a computer with a traditional hard disk (HDD). You sample a group of computers and use the sample statistics to calculate a 99% confidence interval of (1.12, 10.49). This interval estimates the difference of (average boot time (HDD) – average boot time (SSD)). What can we conclude from this interval?

1) There is no significant difference between the average boot time for a computer with an SSD drive and one with an HDD drive at 99% confidence.

2) We do not have enough information to make a conclusion.

3) We are 99% confident that the difference between the two sample means falls within the interval.

4) We are 99% confident that the average boot time of all computers with an SSD is greater than the average of all computers with an HDD

5) We are 99% confident that the average boot time of all computers with an HDD is greater than the average of all computers with an SSD.

Question 10

You are in the market for a new car. You want to check whether there is a significant difference between the fuel economy of mid-size domestic cars and mid-size import cars. You sample 23 domestic car makes and find an average fuel economy of 31.481 MPG with a standard deviation of 3.473 MPG. For imports, you sample 14 cars and find an average MPG of 36.512 MPG with a standard deviation of 6.326. You use this information to calculate a 99% confidence interval for the difference in mean fuel economy of (-9.406, -0.656). Of the following statements, what is the best interpretation of this interval?

1) We are 99% sure that the average difference in fuel economy of all domestic cars and all import cars is between -9.406 and -0.656.

2) We are 99% confident that the difference between the average fuel economy of all domestic mid-size cars and all import mid-size cars surveyed is between -9.406 and -0.656.

3) We are certain that the difference between the average fuel economy of all domestic mid-size cars and all import mid-size cars is between -9.406 and -0.656.

4) We are 99% confident that the difference between the average fuel economy of all domestic mid-size cars and all import mid-size cars is between -9.406 and -0.656.

5) We do not know the population means so we do not have enough information to make an interpretation.

Question 11

Automobile manufacturers are interested in the difference in reaction times for drivers reacting to traditional incandescent lights and to LED lights. A sample of 26 drivers are told to press a button as soon as they see a light flash in front of them and the reaction time was measured in milliseconds. Each driver was shown each type of light. The average difference between the two reaction times (traditional – LED) was 51.126 ms with a standard deviation of 14.84 ms. If they wanted to calculate a 90% confidence interval for the difference in the average reaction time to the two types of light for all drivers, what is the margin of error?

1) 4.964

2) 3.827

3) 4.7875

4) 4.9713

5) 2.9104

Question 12

Researchers in the corporate office of an airline wonder if there is a significant difference between the cost of a flight on Priceline.com vs. the cost of the same flight on the airline’s own website. A random sample of 7 flights were tracked on Priceline.com and the airline’s website and the mean difference in price (Priceline.com – Airline Site) was $-96.678 with a standard deviation of $11.8541. Create a 99% confidence interval for the true average difference in costs between the vendors.

1) (-100.3854, -92.9706)

2) (-113.2889, -80.0671)

3) (-112.3572, -80.9988)

4) (-101.1584, -92.1976)

5) (113.2889, -80.0671)

Question 13

A new drug to treat high cholesterol is being tested by pharmaceutical company. The cholesterol levels for 27 patients were recorded before administering the drug and after. The 99% confidence interval for the true mean difference in total cholesterol levels (after – before) was (-78.82, -31.18). Which of the following is the appropriate conclusion?

1) We are 99% confident that the average difference in cholesterol levels is positive, with the higher cholesterol levels being before the drug regimen.

2) There is not a significant difference in average cholesterol levels before and after the drug.

3) We are 99% confident that the average difference in cholesterol levels is negative, with the higher cholesterol levels being after the drug regimen.

4) We are 99% confident that the average difference in cholesterol levels is negative, with the higher cholesterol levels being before the drug regimen.

5) We are 99% confident that the average difference in cholesterol levels is positive, with the higher cholesterol levels being after the drug regimen.

Question 14

Automobile manufacturers are interested in the difference in reaction times for drivers reacting to traditional incandescent lights and to LED lights. A sample of 13 drivers are told to press a button as soon as they see a light flash in front of them and the reaction time was measured in milliseconds. Each driver was shown each type of light. The average difference in reaction times (traditional – LED) is 3.5 ms with a standard deviation of 6.49 ms. A 95% confidence interval for the average difference between the two reaction times was (-0.42, 7.42). Which of the following is the best interpretation?

1) We are 95% confident that the average difference in the reaction times of the drivers sampled is between -0.42 and 7.42.

2) We are certain the average difference in reaction times between the two light types for all drivers is between -0.42 and 7.42.

3) The proportion of all drivers that had a difference in reaction times between the two lights is 95%.

4) We are 95% confident that the difference between the average reaction time for LED lights and the average reaction time for traditional lights is between -0.42 and 7.42.

5) We are 95% confident that the average difference in reaction time between the two light types for all drivers is between -0.42 and 7.42.

Attempt Score:14 / 14

Overall Grade (average of all attempts):14/ 14

## Study on Federal Reserve and the Great Recession college essay help online

## Assignment Content

Review the Wk 3 Resources.

Choose 1 of the following topics related to the Great Recession:

The housing price bubble, collapse, foreclosures, bailout of underwater mortgages

Subprime mortgages and derivatives, bailout of FNMA, Freddie Mac and AIG

The banking industry crisis, bailout of commercial and investment banks

Write a 350- to 700-word analysis of 1 of the following corrective actions taken by the Federal Reserve as a result of the crisis:

Quantitative easing

Purchase of toxic assets from financial institutions

Paying interest on reserve balances

Address the following in your analysis:

Actions taken by the Federal Reserve to mitigate the crisis

How the corrective action helped to restore stability to the financial system

How the corrective action should prevent recurrence of a similar crisis

Note: Use of charts and graphs is encouraged with appropriate citations. Any charts or graphs retrieved from the Federal Reserve Bank of St. Louis FRED website may only be included when the data sources used by FRED are US government sources such as the Bureau of Economic Analysis or the Bureau of Labor Statistics.

## Questions on Elasticitry and Pricing Decisions essay help for free: essay help for free

Instructions

Elasticity

Unit I introduced the benefits of markets to improving outcomes for producers and consumers. Unit II examined the role of costs and prices in decision-making. For this assignment, you will answer a series of questions in the form of an essay. Support your answers with research from at least three peer-reviewed journal articles using the CSU Online Library (or other sources).

Research elasticity information for two particular goods: one with an elastic demand and one with an inelastic demand. Using elasticity information you gather, predict changes in demand. The United States Department of Agriculture website has a good resource to help with this.

Describe how marginal analysis, by avoiding sunk costs, leads to better pricing decisions.

Explain the importance of opportunity costs to decision-making and how opportunity costs lead to trade.

Evaluate how better business decisions can benefit not just the producer but the consumer and society as a whole. In your evaluation, contrast the deontology and consequentialism approaches to ethics.

Your essay must be at least three pages in length (not counting the title and references pages) and include at least three peer-reviewed resources. Adhere to APA Style when writing your essay, including citations and references for sources used. Be sure to include an introduction. Please note that no abstract is needed.

## Study on Warren Buffett And His Investment Strategy college admission essay help houston tx

5mins persentation… Please write 2 pages of the draft of the speech.

Please use a male voice

OutlineE3010-Fall2020A01.docx

Announcements-ECON-3010-A01-MicroeconomicTheory2-UniversityofManitoba.pdf

NewRevisedfile21.docx

JeffreyM.Perloff-Microeconomics_theoryandapplicationswithcalculus2020.pdf

JeffreyM.Perloff-Microeconomics_theoryandapplicationswithcalculus2020.pdf

## Discussion on economic policies that enhaces living ccusa autobiographical essay help: ccusa autobiographical essay help

The President of Lisavia (a small country) wants to increase productivity in his country. He has recently become aware of an economic principle that suggests that as a nation’s productivity rises, its income will rise and therefore its standard of living will also rise. You have just been appointed as the economic advisor for Lisavia. Discuss three economic policies you might advise the President to pursue in order for his country to achieve this increased standard of living.

Develop a response that includes examples and evidence to support your ideas, and which clearly communicates the required message to your audience. Organize your response in a clear and logical manner as appropriate for the genre of writing. Use well-structured sentences, audience-appropriate language, and correct conventions of standard American English.

Needs 750 words does not need to be cited

## Study on Inflation And Unemployment Rates Relation college essay help: college essay help

In the late 1960s, Milton Friedman and Edmund Phelps argued that there was not a structural relationship between inflation and unemployment rates. In particular, the trade off could only exist in the short -run.

a) (10 points) The tradeoff between unemployment and inflation was much discussed throughout the 1960s as there appeared to be a clear tradeoff between unemployment and inflation. In fact, we traced out the Phillips curve beginning in the early 1960s and continuing through the end of the decade. In the space below, recreate the Phillips curve that we constructed in the lectures, being sure to label diagram completely. At minimum, you should have unemployment / inflation combinations for 1961, 1962, 1964, 1966, and 1969. Connect the dots and we have the tradeoff between unemployment and inflation during the 1960s, aka, the Phillips curve.

b) (10 points) Now explain why the Phillips curve that you constructed can only be a short-run phenomenon at best. In particular, explain exactly why, as we went through the decade of the 1960s, we continuously move up and to the northwest along the Phillips curve…. from relatively high rates of unemployment and low inflation to relatively low rates of unemployment and high rates of inflation. In your answer, make sure discuss the short run aspect of this curve and why, in the long-run, the Phillips curve is vertical (hint: expected inflation, unexpected inflation, actual real wages, and expected real wages should be a big part of your explanation).

In this question, we are going dig deeper into the Taylor Rule and it variants (modifications). You will need the following links to answer the following questions. Note, each link takes you to a page where right above the graph on left, there is a “download data in graph” tab – click on it and that will give you access to the data you need.

NAIRU GDP Growth

PGE Inflation PCE core

Unemployment Rate Inflation PCE

Effective Federal Funds Rate

As Taylor assumed, we assume the equilibrium real rate of interest, r* = 2% and the optimal inflation rate, the target inflation rate is also equal to 2%.

a) (10 points) Using the ‘standard’ Taylor rule with Inflation PCE (not the core), and using end of 2011 data (2011-10-01) what is the federal funds rate implied by the ‘standard’ Taylor Rule? According to the actual federal funds rate (use the Effective Federal Funds Rate), is the Fed being hawkish or dovish? Explain.

b) (10 points) Repeat part a) using the modified version of the Taylor using the unemployment gap instead of the GDP gap just like we did in the lectures. Also, use the PCE core rate of inflation instead of overall inflation like you used above – the Fed arguably cares more about core inflation than overall inflation. According to the actual federal funds rate (use the Effective Federal Funds Rate), is the Fed being hawkish or dovish? Which “Taylor” rule explains Fed behavior better, the original or the modified Taylor Rule? Explain.

c) (10 points) Let’s go back in time to the fourth quarter of 1965 (1965-10-01) when the “We are all Keynesians” was featured in Time magazine. We argued that this was heyday of Keynesian economics so we would expect to get dovish results. Using the original Taylor Rule that you used in part a) and the modified Taylor Rule that you used in part b), prove that the Fed was dovish according to both versions of the Taylor Rule.

d) (10 points) We now go back to the Volcker period where he was known as being a hawk on inflation. Using the data from the second quarter of 1982 (1982-04-01), prove that the Volcker Fed was hawkish according to both versions of the Taylor Rule

True/ False (40 points total – 2 points each)

1) According to the “We are all Keynesians Now” article, the labor secretary at that time wanted the unemployment rate to fall down to 3%.

2) The misery index in 1980 exceeded 25.

3) The mid to late 1970s was the ‘heyday’ of Keynesian economics in the US economy.

4) Keynes believed that it was the responsibility of the government to use its powers to increase production, incomes and jobs.

5) Consistent with his thought on spending heavily, Keynes was known as an excellent tipper.

6) The steeper the SRAS curve, the steeper the short-run Phillips curve.

7) If the long-run aggregate supply curve is vertical so is the long-run Phillips curve.

8) Friedman and Phelps agreed that there is a trade-off between unemployment and inflation, but only in the long run.

9) If actual inflation is lower than expected inflation, then the actual real wage is higher than the expected real wage. This being the case, firms will lay off workers.

10) According to the Taylor Rule described in the lectures, if the Fed is getting an A+, then the federal funds rate should be set at 5%

11) According to the Taylor principle, if actual inflation rises by 1% over target inflation, then the Fed should raise the federal funds rate by 2% to make sure that the real federal funds rate rises which is referred to as “leaning against the wind.

12) If the actual federal funds rate is higher than the funds rates implied by the Taylor rule, then we say that the central bank is hawkish.

13) If actual inflation rises one percent above target and the central bank raises the actual funds rate by one percent then according to the Taylor rule, the central bank is being hawkish.

14) According to the Taylor rule, the Greenspan Fed was hawkish during the new economy years.

15) According to the Taylor rule, the Greenspan Fed was hawkish during the job-less recovery as well as the job-loss recovery.

16) One way to explain the apparent tradeoff between inflation and unemployment during the 1960s, expected inflation was consistently higher than the actual inflation implying that firms would be willing to higher more workers given this difference between expected and actual inflation. The result therefore would be higher inflation and lower unemployment, consistent with the facts during the 1960s.

17) We argued that the modified version of the Taylor rule during the jobless recovery following the 1990 – 1991 recession explained Greenspan and the Fed’s behavior much better than the original Taylor Rule.

18) According to the Phillips curve analysis, if expected inflation is equal to actual inflation then we are at NAIRU. However, if actual inflation is higher than expected, then the actual unemployment rate will be higher than that associated with NAIRU.

19) If firms and workers had perfect foresight as to inflation so that actual = expected inflation at all times, then the Phillips curve would be vertical and thus, there would be no trade between unemployment and inflation, even in the short run.

20) We argued that a federal funds rate target of 4% is consistent with the stance of monetary policy being neutral as in neither tight nor loose.

## Questions on Monopoly Markets popular mba argumentative essay help

The residents of the town Ectenia all love economics, and the mayor proposes building an economics museum. The museum has a fixed cost of $2,40,000 and no variable costs. There are 100,000 town residents, and each has the same demand for museum visits : Q(d)=10-P, where P is the price of admission.

a. Graph the museum’s average total cost curve and its marginal-cost curve. What kind of market would describe the museum?

b. The mayor proposes financing the museum with a lump-sum tax of $24 and then opening the museum free to the public. How many times would each person visit? Calculate the benefit each person would get from the musuem, measured as consumer surplus minus the new tax.

c. The mayor’s anti-tax opponent says the museum should finance itself by charging an admission fee. What is the lowest price the museum can charge without incurring losses?(Hint : Find the number of visits and museum profits for prices of $2, $3, $4, and $5)

d. For the break-even price you found in part (c), calculate each resident’s consumer surplus. Compared with the mayor’s plan, who is better off with this admission fee, and who is worse off? Explain.

e. What real-world considerations absent in the above problem might argue in favor of an admission fee?

## Question on Production Function college essay help: college essay help

Q2. Text – B & B, 5th ed. Problem #6.24

Consider a CES production function given by Q = (K0.5 + L0.5)2.

a) Does this production function exhibit increasing, decreasing, or constant returns to scale?

b) Suppose that the production function took the form Q = (100 + K0.5 + L0.5)2. Does this production

function exhibit increasing, decreasing, or constant returns to scale?

## Principles of Economics Questions summary and response essay help

for math guru

M4_problem_sets_2.xlsx