One politician believes that 25% of all senior economists
strongly support a proposal he wants to...
One politician believes that 25% of all senior economists
strongly support a proposal he wants to put forward. Suppose this
belief is correct, select five economists
1) What is the probability that at least one of the five
supports the proposal?
2) What is the probability that the majority of the five will
support the proposal?
Solutions
Expert Solution
Let P be the probability that a senior economist strongly
support a proposal
On the issue of free trade, economists (on average):
strongly support.
strongly oppose.
are very divided.
have no opinion.
Saltwater economists are:
Keynesian economists.
prefer greater government intervention in the macro economy.
situated primarily on the east coasts and west coast
universities.
true for all of questions in this problem.
The benefit that arises from an increase in an activity is
called
an incentive.
opportunity cost.
the marginal benefit.
the marginal cost.
The birth of economics as an intellectual discipline...
A) A poll shows 60% of voters support Proposition A. 25 people
were surveyed.
A politician claims the actual support is 50% What would be the
null hypothesis?
B) What would be the alternative hypothesis?
C) What kind of test are we looking at?
D) Find the critical value.
Mr. Hooper is a fifth-grade teacher at Mt. General Elementary
School. He believes very strongly in Gardner's theory of
intelligence and that students have various areas of relative
strength and weakness. He has attended numerous workshops regarding
the application of multiple intelligence theory in the classroom.
Over the years, he has developed a classroom that he believes
fosters development in all of Gardner's eight Frames of Mind. Mr.
Hooper's classroom is bright and cheerful. On the walls hang
motivational posters...
A teacher is comparing the mean study time of his freshmen and
senior students. he believes that his senior students spend more
time studying per week than his freshmen students and decides to
perform a hypotheses test on this belief.
a. suppose the decision of the hypothesis test is to reject the
null hypothesis. If in reality freshmen study for a mean of 10
hours per week and seniors study for a mean of 15 hours per week,
was an...
A sportswriter wants to know how strongly Lafayette residents
support the local minor league baseball team, the Lafayette
Leopards. She stands outside the stadium before a game
and interviews the first 20 people who enter the stadium.
The sample for the survey is:
a.
all residents of Lafayette.
b.
all people attending the game the day the survey was
conducted.
c.
all Leopard fans.
d.
the sportswriter.
e.
the 20 people who gave the sportswriter their opinion.
A marketing firm wants to know how strongly Cuyahoga County
residents support building a new stadium for the local national
football league team, the Cleveland Browns. They get a complete
list of all residents in Cuyahoga County, along with their
addresses and phone numbers. There are 52 zip codes in
the county. From each of those zip codes, 10 Cuyahoga County
residents are randomly selected and surveyed.
1. Describe the population.
2. What is the sample?
3. What type of...
An individual wants to retire in 25 years. At that time (s)he
wants to be able to withdraw $2500 per month to cover living
expenses. This individual has an expectation that (s)he
will live 25 years after the date of retirement.
The interest rate is 6% per year.
This individual has assumed that:
The interest rate is constant over
time True False
The expected time frames are 25
years True False
There are no additional risks to be
considered True False
There is money left over 50...
A medical researcher wants to compare the pulse rates of smokers
and non-smokers. He believes that the pulse rate for smokers and
non-smokers is different and wants to test this claim at the 0.01
level of significance. The researcher checks 51 smokers and finds
that they have a mean pulse rate of 79, and 58 non-smokers have a
mean pulse rate of 77. The standard deviation of the pulse rates is
found to be 10 for smokers and 8 for...
A medical researcher wants to compare the pulse rates of smokers
and non-smokers. He believes that the pulse rate for smokers and
non-smokers is different and wants to test this claim at the 0.05
level of significance. A sample of 52 smokers has a mean pulse rate
of 78, and a sample of 64 non-smokers has a mean pulse rate of 74.
The population standard deviation of the pulse rates is known to be
88 for smokers and 77 for...
A medical researcher wants to compare the pulse rates of smokers
and non-smokers. He believes that the pulse rate for smokers and
non-smokers is different and wants to test this claim at the
0.02 level of significance. The researcher checks 79
smokers and finds that they have a mean pulse rate of 87, and 75
non-smokers have a mean pulse rate of 83. The standard deviation of
the pulse rates is found to be 6 for smokers and 6 for non-smokers....