A firm with a production function given by ?=170?q=170N, where ?q is the quantity produced and ?N is the number of workers hired. The firm sells its product in a competitive market, and the market price of its good is ?=1p=1.
The firm, however, is the only employer in the town where it operates, and hence it does not take the cost of labour as given. The inverse labour supply function in this town is given by ?=50+0.02?2w=50+0.02N2.
(a) Write an equation for firm profits as a function of ?N and solve for the profit-maximizing choice of ?N.
(b) What will the wage be in the town where the employer operates?
(c) Is the wage equal to, greater than, or less than the marginal product of labour? Explain intuitively why this is the case in this setting.
In: Economics
A 0.1 significance level is used for a hypothesis test of the claim that when parents use a particular method of gender selection, the proportion of baby girls is greater than 0.5. Assume that sample data consists of 66 girls in 121 births, so the sample statistic of 6/11 results in a z score that is 1 standard deviation above 0. Complete parts (a) through (h) below.
a. Identify the null hypothesis and the alternative hypothesis.
b.what is the value of a?
c. What is the sampling distribution of the sample statistic?
-X2
- Student (t) distribution
- Normal Distribution
d. Is the test two-tailed, left-tailed, or right tailed?
e. what is the value of the test statistic?
f. what is the P-value?
g. what are the critical Value(s)?
h. What is the area of the critical region?
In: Statistics and Probability
a couple intends to have three children. assume (for some reason) that having a boy or a girl are not equally likely events, and that p(boy)=.4 and p(girl)=.6 for each delivery also assume the births are independent of each other
(a. what is the sample space of this experiment? Use a tree diagram and label the branches with their corresponding probabilities. Then make a table including all outcomes from the experiment with their associated probabilities.
(b. Find the probability that the couple has exactly two girls.
(C. Find the probability that the couple has at least one boy
Let X represent the discrete random variable corresponding to the number of girls the couple has. What is the probability distribution of the random variable X? Hint: Take your table above, summarize it, and list "sideways"
In: Statistics and Probability
A researcher is interested in whether participating in sports positively influences self-esteem in young girls. She identifies a group of girls who have not played sports before but are now planning to begin participating in organized sports. The researcher gives them a 50-item self-esteem inventory before they begin playing sports and administers the same test again after 6 months of playing sports. The self-esteem inventory is measured on an interval scale, with higher numbers indicating higher self-esteem. In addition, scores on the inventory are normally distributed. The scores follow. Before After 44 46 40 41 39 41 46 47 42 43 43 45 C. Conduct the appropriate analysis D. Should Ho be rejected? What should the researcher conclude?
In: Statistics and Probability
Mitchell and Cameron have two adopted children. We are interested in the biological sex (Male/Female) of their children.
(a)[3 pts] Give the sample space for thesex of their two children.1 full point out of the 3will be for using the correct format.
(b)[2 pts] What is the probability that both children are girls, given that the first child is a girl? You do not have to show a lot of mathematical work for this, but the more work you show, the more partial credit you may get if your answer is wrong.
(c)[3 pts] We ask Mitchell: “Do you guys have at least one daughter?”He responds: “Yes!” Knowing that Mitch & Cam have at least one daughter, what is the probability now that both children are girls?
Thank u
In: Statistics and Probability
Don't you agree that the lack of females in positions of authority provide girls with a message that girls are not capable of being in charge? Remember that in the 1700's in the United States when whaling was an industry, men were out to sea sometimes for years at a time, who ran the businesses back home? Women, there were many "cottage" industries in which women ran businesses out of their homes, but they made money, paid the bills, took care of the family, and were there when their men returned to land. The changes occurred during the Industrial Revolution in the United States when it was considered a sign of wealth when a "weak" woman was "allowed" to stay home and care for their children and their husbands worked in the factories of the time. So how do we reverse 100 years of societal influence?
In: Psychology
Why do different people experience the same disease differently? Or asked another way, why do pathogens cause different symptoms in different people?
Suggest two or more well-founded reasons for this difference.
In: Biology
what is town and cable inc. professional skepticism in auditing
In: Accounting
Dr. Paddock is a counseling psychologist who is interested in decreasing adjustment issues in first-year college students. She is curious if having students create collages of their first few weeks of school and then mailing them home will help students feel they have integrated their new life with their old and, as a result, will help them feel less homesick. She samples a group of 100 incoming college freshmen at her university and measures how homesick they are during the first week of school. During Week 4 of school, she has them make the collage and send it home. During Week 7 of school, she measures their homesickness again. She notices a significant reduction in the amount of homesickness from the pretest to the posttest and concludes that her treatment is effective. Imagine in Dr. Paddock’s study that only 90 of the original participants completed the measure of homesickness during Week 7 (10 participants had left the university and were unavailable). What kind of threat to internal validity does this pose? How does this affect her conclusion that her treatment for homesickness worked?
In: Psychology
Suppose a 95% confidence interval for the mean salary of college
graduates in a town in Mississippi is given by [$34,321, $41,279].
The population standard deviation used for the analysis is known to
be $14,200.
a. What is the point estimate of the mean salary
for all college graduates in this town?
b. Determine the sample size used for the analysis. (Round "z" value to 3 decimal places and final answer to the nearest whole number.)
In: Statistics and Probability