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100, randomly selected adults were asked if they drink at least 48oz of water eaxh day and only 45% said yes. Determine whether the sample is likely to be representative of the population.
Business Economics, Economics
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Discuss and provide application of concepts of supply and demand by identifying two goods and two services you consume at the household or professional level. For each example, you will identify a demand-shifting factor ...
In a large university, 68% of students live in dormitories. A random sample of 14 students is selected. What is the probability that the sample contains more than five students who do not live in the dormitories?
Couriers such as UPS and FedEx complete on service and price. One way to reduce cost is to keep labor cost low by hiring and laying off workers to meet the demand. This strategy requires managers to hire and train new wo ...
Trade restrictions can be implemented by tariffs and quotas acting on price and quantity respectively or by non-tariff barriers (NTBs). Explain what constitute NTBs ranging from industrial policy, technical barriers, sub ...
What causes the PPF to shift outward? I think that resources have to be used but i'm not sure.
Some people (e.g Hayek) argue that decentralization of economic decisions in the economy lead to an efficient resource allocation. What differences exist within the firm that make the link between decentralization and ef ...
What is the types of cost: fixed, variable, and marginal in economics, and methods that market power alters the relationship between a firm's costs and the price at which it sells its product?
The following is a set of data from a sample of n=5 5 9 3 2 6 The mean is 5 The median is 5 There is no solution for mode. What and how do I find the variance?
There are 100 identical firms in a perfectly competitive industry. Market demand is given by -200P +8000. If each firm has a marginal cost curve, MC = .4 q + 4. What is the firm's supply curve ? What is market supply? Wh ...
When we look at the ease to enter the different market structure, there is no doubt that 'monopoly' is the hardest. Why? -- There is only ONE firm that has established 'economies of scale' with the production of their go ...
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Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate
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