(c) Consider the following scatterplots. Graph I Graph II 28 28 - 26 26- 24 24 22 22 20- 20 18 - 18- 16 16- 14 14- o Old Stadium • New Stadium 12 12 - 10- 10- 85 Number of Games Won 75 80 85 Number of Games Won 90 95 100 105 75 80 90 95 100 105 (i) Graph I shows the average attendance versus number of games won for each year. Describe the relationship between the variables. (ii) Graph II shows the same information as Graph I, but also indicates the old and new stadiums. Does Graph II suggest that the rate at which attendance changes as number of games won increases is different in the new stadium compared to the old stadium? Explain your reasoning. Average Attendance (thousands) Average Attendance (thousands)
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- Freedonia has a comparative advantage in the production of (grain, tea, neither grain nor tea, both grain and tea), while Desonia has a comparative advantage in the production of (grain, tea, neither grain nor tea, both grain and tea). If each fully specializes that is, produces only the good for which each has a comparative advantage, the most the two countries can produce is ( )million pounds of grain and ( )million pounds of tea. The following graph shows the same PPF for Freedonia as before, as well as its initial consumption at point A. Use the green line (triangle symbol) to plot the trading possibilities line (TPL) for Freedonia. Then place the black point (plus symbol) on the trading possibilities line to indicate Freedonia’s consumption after specialization and trade. The following graph shows the same PPF for Desonia as before, as well as its initial consumption at point A.The manager of the customer service department at a bank can hire employees with a high school degree (HS) who earn $10,000 annually or employees with a bachelor's degree (B) who earn $20,000. The manager wants to maximize the number of customers served given a fixed payroll. Worker Number of Additional Customers Served High School Degree Bachelor's Degree 1st 80 90 2nd 60 80 3rd 50 60 4th 40 40 5th 35 35 6th 30 25 Given the information in the table, if the manager's payroll is $120,000, what should be done to maximize the number of customers served? What is the math behind this? Do I just look back and select which degrees equal 0.5? That would take a lot of manual work to do that. Is their an easier way?In Problems 5–10, examine the scatter diagram and determine whether the type of relation is linear or nonlinear.
- An auctioneer of antique Iranian rugs kept records of his weekly auctions in order to determine the relationships among price, age of carpet or rug, number of people attending the auction, and the number of times the winning bidder had previously attended his auctions. He felt that, with this information, he could plan his auctions better, serve his steady customers better, and make a higher overall profit for himself. The results shown in the accompanying table were obtained.The following graph shows the labor market for research assistants in the fictional country of Collegia. The equilibrium wage is $10 per hour, and the equilibrium number of research assistants is 200. Suppose the government has decided to institute a $2-per-hour payroll tax on research assistants and is trying to determine whether the tax should be levied on the employer, the workers, or both (such that half the tax is collected from each side). Use the graph input tool to evaluate these three proposals. Entering a number into the Tax Levied on Employers field (initially set at zero dollars per hour) shifts the demand curve down by the amount you enter, and entering a number into the Tax Levied on Workers field (initially set at zero dollars per hour) shifts the supply curve up by the amount you enter. To determine the before-tax wage for each tax proposal, adjust the amount in the Wage field until the quantity of labor supplied equals the quantity of labor demanded. You will not be…A quality control engineer studied the relationship between years of experience as a system control engineer and the capacity of the engineer to complete within a given time a complex control design including the debugging of all computer programs and control devices. A group of 25 engineers having widely differing amounts of experience (measured in months of experience) was given the same control design project. The results of the study are given in the following table with y = 1 if the project was successfully completed in the allocated time and y = 0 if the project was not successfully completed. a. Determine whether experience is associated with the probability of completingthe task. b. Compute the probability of successfully completing the task for an engineer having 24 months of experience. Place a 95% confidence interval on your estimate.
- An auctioneer of antique Iranian rugs kept records of his weekly auctions in order to determine the relationships among price, age of carpet or rug, number of people attending the auction, and the number of times the winning bidder had previously attended his auctions. He felt that, with this information, he could plan his auctions better, serve his steady customers better, and make a higher overall profit for himself.Within a company is a (micro)economy that is monitored by the accounting procedures. In terms of the accounts, the various departments "produce" costs, some of which are internal and some of which are direct costs. This problem shows how an open Leontief model can be used to determine departmental costs. The sales department of an auto dealership charges 10% of its total monthly costs to the service department, and the service department charges 20% of its total monthly costs to the sales department. During a given month, the direct costs are $68,600 for sales and $29,400 for service. Find the total costs (in dollars) of each department. (Round your answers to the nearest whole number.)Answer question #9. Show the graph of the rejection region.
- A quality control engineer studied the relationship between years of experience as a system control engineer and the capacity of the engineer to complete within a given time a complex control design including the debugging of all computer programs and control devices. A group of 25 engineers having widely differing amounts of experience (measured in months of experience) was given the same control design project. The results of the study are given in the following table with y 5 1 if the project was successfully completed in the allocated time and y 5 0 if the project was not successfully completed. a. Determine whether experience is associated with the probability of completing the task. b. Compute the probability of successfully completing the task for an engineer havingA manufacturer of microcomputers produces three different models. The following table summarizes wholesale prices, materials cost per unit, and labor cost per unit. Annual fixed costs are $20 million. Model-1Model-2Model-3 Wholesale price / Unit (in dollars)$700$8000$1000 Material cost / Unit(in dollars)185500850 Labor cost / unit(in dollars)150200325 Determine a joint total revenue function for sale of the three different microcomputers models.Determine an annual total cost function for the manufacturing the three models.Determine the profit function for sales of the three models.What is the annual profit if the firm sells 20,000, 40,000, and 10,000 units, respectively, of the three models RubricsUses information appropriately: 0.5Applies appropriate procedures: 0.5Answers the problem: 0.25Two sectors of the U.S. economy are (1) audio, video, and communication equipment and (2) electronic components and accessories. Suppose in 1998, the input-output table involving these two sectors was as follows (all figures are in millions of dollars). To Equipment Components From 6,200 600 Components 23,000 32,000 Total Output 90,000 140,000 Determine the production levels (in dollars) necessary in these two sectors to meet an external demand for $78,000 million of communication equipment and $92,000 million of electronic components. Round answers to two significant digits.