Microeconomic Analysis Questionnaire

7. Draw conclusions - Interpret the data from the graph made in Question 7. What conclusions can you make based on the results of this graph?

2. Based on the scale of measurement for each variable listed below, which measure of central tendency is most appropriate for describing the data?

1. Use the graph below to predict what the results will look like if the null hypothesis is

b) (10 points) Based on your results in a), graph publishers on a bubble chart using the

Q6: How much production fixed expenses should be allocated to 1 kg of "complete meal"? Give a specific number and your logic to support the

Raising minimum wage would affect teenage workers. With younger adults and teenagers finishing up school, about half look for a job, while some don’t want to or have other plans such as going to college. If minimum wage were to be increased, it would make more people want to get a job. Increasing minimum wage would put more money in consumer’s pockets to spend in stores; therefore, stores would require more staff. Teenagers would have more money which would enable them to apply more funds towards their education to improve themselves. Supporters feel if people are going to get paid more, they would want to get a job. An increase in your pay would increase the consumer rate of purchasing things, and would require more staff due to more customers since they have more money to purchase things. According to Economic Policy Institute, “Over three-quarters 3.4 million of the affected workers were adults age 20 or older. The other 1.1 million workers were teenagers, age 16-19. Despite the relatively small number of affected teens, this nevertheless represents a large share, 19.9%, of all teen workers.” (Heidi Shierholz). Those who oppose believe that increasing minimum wage would cause prices of products and services to increase rapidly and cause people to limit their spending. As prices go up,

Part 1 – Complete the following chart using information from the lesson. Print the chart.

23) Which of the following is observed in a scatter plot when there is an inverse relationship between x and y?

11. For each of the following, indicate whether you would use a pie, line, or bar chart, and why.

For problems 12 to 14, do the following: (a) Make a scatter diagram of the

The participants were three members of a family. The first was male and 67 years of age. The second was female and 52 years old. The third member of the family was male, and 25 years old.

2. Refer to the above table to answer this question. Suppose that Mia has a budget of $7 and the price of a litre of soya milk is $1, what is the maximum quantity that Mia might purchase?

The data sets for problems 5 and 6 can be found through the Pearson Materials in the Student Textbook Resource Access link, listed under Academic Resources. The data is listed in the data file named Lesson 20 Exercise File 1. Answer Exercises 5 and 6 based on the following research problem:

1. Use your graph to answer and note that the dot in the graph turns red when you select that line in the table. What is the minimal, or threshold, stimulus? 0V.

1b. What are the sub-components of this problem: these are usually a set of decisions they must make involving choices regarding the above problem?