Week 2 Limespring test
.docx
keyboard_arrow_up
School
American Military University *
*We aren’t endorsed by this school
Course
120
Subject
Economics
Date
Apr 3, 2024
Type
docx
Pages
8
Uploaded by MinisterSnowDog23 on coursehero.com
e | g, How many respondents took part in the first survey? View answer Does the graph suggest that responents are able to select more than one flavor? View answer
o S - s i View answer 3. Whatis the most selected favorite ice cream flavor? i o 4. between the two surveys (excluding potential Which flavor had the biggest difference in responses ' View answer differences in "other” flavors? =
9 Which of the following options would be an unlikely explanation for the difference in the Other columns? View answer o What percentage of the total U.S. GDP is generated by New York? View answer
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Related Questions
It is known that the ABC oil company supplies consumers with 150 tons of products per day. The company produces only two types of products - gasoline and diesel fuel. The limiting transformation ratio of diesel fuel relative to gasoline is 0.5.
a) Draw a line of the company's monthly production capacity for gasoline and diesel.
b) With the advent of new technologies, production increased by 20%, and the availability of gasoline increased by 30%. Explain how the company's new product line differs from the previous one.
c) If we put the gasoline production on the X-axis of the graph, what percentage of the slope capacity of the production line is different from the slope ratio of the previous production line?
arrow_forward
Can you help with question 27?
I don’t understand it.
The given multiple choice answers are :
-Increased, 4
-Decreased, 4
-Increased, 6
-Decreased, 6
arrow_forward
. On a given evening, J. P. enjoys the consumption of cigars (c) and brandy (b) according to thefunctionU (c, b) = 20c - c2 +18b- 3b2.How many cigars and glasses of brandy does he consume during an evening? (Cost is no objectto J. P.)b. Lately, however, J. P. has been advised by his doctors that he should limit the sum of glasses ofbrandy and cigars consumed to 5. How many glasses of brandy and cigars will he consumeunder these circumstances?
arrow_forward
Q. 1
You are the mayor of a small town with 2000 residents. The head of your economic development agency recently conducted a survey in which the 2000 residents said that a public concert in the centre of town would be worth $20 to cach of them. Since it costs only $5000 to hold the concert, you organized and held the concert, which everyone in town enjoyed. But when you asked for donations to pay for the concert, you only collected $30 in total. What do you know?
a. The survey certainly overstated how much the concert was worth to each resident.
b. From the standpoint of total costs and benefits, the cost of the concert certainly exceceded the benefit.
c. The concert was an example of the Tragedy of the Commons.
d. Residents of the town were probably free riders.
arrow_forward
Matthew and Susan are both optimizing consumers in the markets for shirts and hats,where they pay $100 for a shirt and $50 for a hat. Matthew buys 4 shirts and 16 hats, whileSusan buys 6 shirts and 12 hats. From this information, we can infer that Matthew’smarginal rate of substitution is _____ hats per shirt, while Susan’s is _____.a. 2, 1b. 2, 2c. 4, 1d. 4, 2
arrow_forward
How do you partial differentiate Q = 15K^1.7L^1.3 + K^3 + 5^3 alone? If you were to exclude the second question
arrow_forward
For each of the pairs below, determine whetherthey are positively correlated, negatively correlated, or uncorrelated. [LO 1.5]a. Time spent studying and test scoresb. Vaccination and illnessc. Soft drink preference and music preferenced. Income and education
arrow_forward
please explain how the first two answer are obtain
arrow_forward
As a manager of a small software retailing company, you are concerned with projected profit next year. While profit can be determined as the difference between sales and maintenance cost, or in symbols, P = S - M, where P is profit, S is sales, and M is maintenance cost including technical support. It is argues that when sales goes up so does maintenance cost because the cost of technical support will go up. Further, it is measured that the correlation between S and M is 0.8. Now given the figure that sales next year is expected to be $300 thousand with standard deviation of $4 thousand and maintenance cost is expected to be $150 thousand with standard deviation of $6 thousand, what would be the expected profit and its standard deviation you will include in your report?
arrow_forward
I wanna ask, this is an exercise.
What is the possible 'significance of study' if we focus our research on the topic entitled "The Impact of the Pandemic on Cost of Living between Different Income Level".
arrow_forward
Do waiters or waitresses earn larger tips To answer this
Do waiters or waitresses earn larger tips? To answer this question, a restaurant consultant undertook a preliminary study. The study involved measuring the percentage of the total bill left as a tip for one randomly selected waiter and one randomly selected waitress in each of 50 restaurants during a 1-week period. What conclusions can be drawn from these data?
Do waiters or waitresses earn larger tips To answer this
arrow_forward
MCQZ 13
Camille is at the candy store with Grandma Mary, who offers to buy her $10 worth of candy. If lollipops are $2 each and candy bars are $3 each, what combination of candy can Camille's Grandma Mary buy her?
Multiple Choice
five lollipops and three candy bars
two lollipops and two candy bars
two lollipops and three candy bars
four lollipops and one candy bars
MCQZ 16
Assume that a consumer has a given budget or income of $10 and that she can buy only two goods, apples or bananas. The price of an apple is $2.00 and the price of a banana is $1.00. If the consumer decides to buy 4 apples, how many bananas can she also buy with the remainder of her budget, assuming she exhausts her income?
Multiple Choice
2 bananas
10 bananas
4 bananas
arrow_forward
pls answer the attached question
arrow_forward
Previous answer was absolutely incorru
arrow_forward
pls give a answer with good explanation
arrow_forward
1. Why is the existence of a correlation (existence of co-occurrence or association) between and Fnot enough evidencefor us to say that Ycauses Y?2. What is the post hoc, ergo propter hoc fallacy? Give an example
arrow_forward
Pls answer all three question, pls explain the correct option in 5-6 sentences.
arrow_forward
You are the mayor of a small town with 2000 residents. The head of your economic development agency recently conducted a survey in which the 2000 residents said that a public concert in the centre of town would be worth $20 to each of them. Since it costs only $5000 to hold the concert, you organized and held the concert, which everyone in town enjoyed. But when you asked for donations to pay for the concert, you only collected $30 in total. What do you know?
Question 88 options:
The concert was an example of the Tragedy of the Commons.
From the standpoint of total costs and benefits, the cost of the concert certainly exceeded the benefit.
The survey certainly overstated how much the concert was worth to each resident.
Residents of the town were probably free riders.
arrow_forward
For the students of the college, the visual appearance of the campus is _______(rival/nonrival) and ______(nonexcludable/excludable). Thus, the visual appearance would be classified as a public good.
Suppose the college administrators estimate that the beautification initiative will cost $34,980. To decide whether the initiative should be undertaken, administrators conduct a survey of the college's 1,460 students, asking each of them their willingness to pay for the beautification project. The average willingness to pay, as revealed by the survey, is $32.
The benefit of the beautification initiative, as suggested by the survey, is $_______. Because the estimated benefit is _______(less/greater) than the cost, the college administrators _______(should not/should) undertake the beautification initiative.
The calculation of the benefit of the beautification initiative relied on the ability of the administrators to capture the true willingness to pay of each student accurately.
Which…
arrow_forward
A government study found that people who eat chocolate frequently weighless than people who don’t. Researchers questioned 1000 individuals fromCalifornia between the ages of 20 and 85 about their eating habits, andmeasured their weight and height. On average, participants ate chocolatetwice a week and had a body mass index (BMI) of 28. There was anobserved difference of five to seven pounds in weight between those whoate chocolate five times a week and those who did not eat any chocolate atall, with the chocolate eaters weighing less on average. Frequent chocolateeaters also consumed more calories, on average, than people who consumedless chocolate. Based on this summary, would you recommend thatAmerican’s who do not presently eat chocolate, consider eating chocolateup to five times a week if they want to lose weight? Why or why not?Explain.
arrow_forward
Give typing answer with explanation and conclusion
Suppose that the government must undertake an irreversible policy decision regarding the extent of air pollution regulation. The government is making this decision in a situation of uncertainty, however. In particular, there is some probability p that the benefits will remain the same as they are this year for all future years, but there is some probability 1 - p that benefits will be less in all future years. If we take into consideration the multiperiod aspects, should we err on the side of overregulation or underregulation, compared to what we would do in a single-period choice?
arrow_forward
1
Explain what is meant by heteroscedasticity
arrow_forward
q7-
Which statement is incorrect for statistical independence between X and Y?
Select one:
a.
The occurence of Y has no impact on the probability for the occurence of X
b.
If X and Y occur jointly, it is purely by chance
c.
The correlation between X and Y is 0
d.
The correlation between X and Y is 1
arrow_forward
#3
Provide a clear answer
arrow_forward
s
EconomicsQ&A LibraryEach term (3 months) the current group of economics students completed a questionnaire as to how much they would spend on new purchases compared to how much they would save/pay off bills, if they suddenly and unexpectedly received a check for $1,000. The average MPC is shown in the table below. Month in which student poll was taken Average of students’ responses as MPC March 0.41 June 0.30 September 0.22 December 0.56 What do these MPC’s imply about the students’ thinking over the course of the year? (Enter response here.) What is likely happening in the economy during the same period of time?
Each term (3 months) the current group of economics students completed a questionnaire as to how much they would spend on new purchases compared to how much they would save/pay off bills, if they suddenly and unexpectedly received a check for $1,000. The average MPC is shown in the table below. Month in which student poll was taken Average of students’…
arrow_forward
This is the second part of the previous question I asked, I either get most right or wrong
arrow_forward
ADVERSE SELECTIONSomet Health Insurance Company wants to sell a health insurance product for $700 permonth. There is no requirement for healthy people to have insurance coverage. Thecompany conducts a survey to see how different populations respond to the proposed cost.People with no illnesses and disabilities, generally the young and healthy, respond that theydo not spend $700 on healthcare in an entire year, and most feel they would not waste somuch money on premiums when the chance of needing surgery or expensive healthcaretreatments is so small. However, older, sicker people think that $700 per month is a greatdeal, as most of them spend far in excess of this amount on healthcare. It seems like agreat deal for them.
What will happen to the costs of the health insurance if only the older, sicker peopleenroll?
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you
Related Questions
- It is known that the ABC oil company supplies consumers with 150 tons of products per day. The company produces only two types of products - gasoline and diesel fuel. The limiting transformation ratio of diesel fuel relative to gasoline is 0.5. a) Draw a line of the company's monthly production capacity for gasoline and diesel. b) With the advent of new technologies, production increased by 20%, and the availability of gasoline increased by 30%. Explain how the company's new product line differs from the previous one. c) If we put the gasoline production on the X-axis of the graph, what percentage of the slope capacity of the production line is different from the slope ratio of the previous production line?arrow_forwardCan you help with question 27? I don’t understand it. The given multiple choice answers are : -Increased, 4 -Decreased, 4 -Increased, 6 -Decreased, 6arrow_forward. On a given evening, J. P. enjoys the consumption of cigars (c) and brandy (b) according to thefunctionU (c, b) = 20c - c2 +18b- 3b2.How many cigars and glasses of brandy does he consume during an evening? (Cost is no objectto J. P.)b. Lately, however, J. P. has been advised by his doctors that he should limit the sum of glasses ofbrandy and cigars consumed to 5. How many glasses of brandy and cigars will he consumeunder these circumstances?arrow_forward
- Q. 1 You are the mayor of a small town with 2000 residents. The head of your economic development agency recently conducted a survey in which the 2000 residents said that a public concert in the centre of town would be worth $20 to cach of them. Since it costs only $5000 to hold the concert, you organized and held the concert, which everyone in town enjoyed. But when you asked for donations to pay for the concert, you only collected $30 in total. What do you know? a. The survey certainly overstated how much the concert was worth to each resident. b. From the standpoint of total costs and benefits, the cost of the concert certainly exceceded the benefit. c. The concert was an example of the Tragedy of the Commons. d. Residents of the town were probably free riders.arrow_forwardMatthew and Susan are both optimizing consumers in the markets for shirts and hats,where they pay $100 for a shirt and $50 for a hat. Matthew buys 4 shirts and 16 hats, whileSusan buys 6 shirts and 12 hats. From this information, we can infer that Matthew’smarginal rate of substitution is _____ hats per shirt, while Susan’s is _____.a. 2, 1b. 2, 2c. 4, 1d. 4, 2arrow_forwardHow do you partial differentiate Q = 15K^1.7L^1.3 + K^3 + 5^3 alone? If you were to exclude the second questionarrow_forward
- For each of the pairs below, determine whetherthey are positively correlated, negatively correlated, or uncorrelated. [LO 1.5]a. Time spent studying and test scoresb. Vaccination and illnessc. Soft drink preference and music preferenced. Income and educationarrow_forwardplease explain how the first two answer are obtainarrow_forwardAs a manager of a small software retailing company, you are concerned with projected profit next year. While profit can be determined as the difference between sales and maintenance cost, or in symbols, P = S - M, where P is profit, S is sales, and M is maintenance cost including technical support. It is argues that when sales goes up so does maintenance cost because the cost of technical support will go up. Further, it is measured that the correlation between S and M is 0.8. Now given the figure that sales next year is expected to be $300 thousand with standard deviation of $4 thousand and maintenance cost is expected to be $150 thousand with standard deviation of $6 thousand, what would be the expected profit and its standard deviation you will include in your report?arrow_forward
- I wanna ask, this is an exercise. What is the possible 'significance of study' if we focus our research on the topic entitled "The Impact of the Pandemic on Cost of Living between Different Income Level".arrow_forwardDo waiters or waitresses earn larger tips To answer this Do waiters or waitresses earn larger tips? To answer this question, a restaurant consultant undertook a preliminary study. The study involved measuring the percentage of the total bill left as a tip for one randomly selected waiter and one randomly selected waitress in each of 50 restaurants during a 1-week period. What conclusions can be drawn from these data? Do waiters or waitresses earn larger tips To answer thisarrow_forwardMCQZ 13 Camille is at the candy store with Grandma Mary, who offers to buy her $10 worth of candy. If lollipops are $2 each and candy bars are $3 each, what combination of candy can Camille's Grandma Mary buy her? Multiple Choice five lollipops and three candy bars two lollipops and two candy bars two lollipops and three candy bars four lollipops and one candy bars MCQZ 16 Assume that a consumer has a given budget or income of $10 and that she can buy only two goods, apples or bananas. The price of an apple is $2.00 and the price of a banana is $1.00. If the consumer decides to buy 4 apples, how many bananas can she also buy with the remainder of her budget, assuming she exhausts her income? Multiple Choice 2 bananas 10 bananas 4 bananasarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you