3. Use the supply and demand model to illustrate how each of the following affects the market for cocoa beans, ceteris paribus.

a. A blight on cacao trees kills of much of the crop in Latin America.

b. The price of carob increases.

c. Workers organize into a union and get higher wages for farming Cocoa.

d. Chocolate is clinically proven to prevent Alzheimer’s disease. e. The price cocoa beans are expected to drop in the near future.

The Federal Reserve was founded in 1913. Trace its development over the first two decades of its existence. How was it structured originally until changes were made by the Banking Act of 1935? What role did it play in the recession of 1929 to 1933?

Episode 3 reviews the mot recent events in the series, from 1990s to 2001. In the next few documentaries, we get different perspectives on events after 2001, but what does this episode suggest for the future of the global economy. Does it preview anything that you have witnessed recently in the economy. What does it teach you to watch for in our economic future?

megan is a rental agent for the Oxford Lake apartment complex. The work is fairly boring, but she’s going to school in the evening, so the quiet periods give her time to catch up on her studies, plus the discounted rent is a great help to her budget. Business has been slow since two other apartment complexes opened up, and their vacancies are starting to run a little high.
The company recently appointed a new regional director to “inject some energy and creativity” into their local campaigns and generate some new rental leases. Her name is Kate Jones, and based on first impressions, Megan thinks Kate would rent her grandmother an apartment as long as she could raise the rent first.
Kate’s first event is an open house, complete with free hot dogs and cokes and a clown making balloon animals for the kids. They run ads in the paper and on the radio and manage to attract a good crowd of people. Their first applicants are Michael and Tania Wilson, an African-American couple with one young son, Tyler. Megan takes their application. They’re a nice couple with a stable work history, more than enough income to cover the rent, and good references from their previous landlord. Megan advises them that they will do a background check as a standard procedure and that things “look very good” for their application. After they leave, Kate stops by the rental office. “How did that couple look? Any issues with their application?” “None at all,” answers Megan. “I think they’ll be a perfect addition to our community.” “Don’t rush their application through too quickly,” replies Kate. “We have time to find some more applicants, and, in my experience, those people usually end up breaking their lease or skipping town with unpaid rent.”
QUESTIONS
1. What would be “the right thing” to do here?

2. How would you resolve this ethical dilemma?

3. What should Megan do now?

The population mean of the heights of five-year old boys is 100 cm. A teacher measures the height of her twenty-five students, obtaining a mean height of 105 cm and standard deviation 18. Perform a test with a 5% significance level to calculate whether the true mean is actually greater than 100cm

Directions: For each question, you need to show each step of the hypothesis test, state your null and alternate hypothesis, identify if you are conducting a two-tailed or a one-tailed hypothesis test, identify the Zcrit and Zobt, graph the normal curve, label the critical value and the test statistic, shade the rejection region, tell whether we reject or retain the null and make a conclusion statement. You also need to calculate Cohen’s d, the probability of committing a type I error and type II error, and the strength of the effect size.

3. A common measure of assessing whether individuals are suitable for entrance into law school is by having applicants register and take the Law School admissions Test (LSAT). The national average score on the LSAT is 150 with a standard deviation of 6. A Law School Admissions coordinator at a local university created a prep course to assist local students in preparing for the exam. To test whether this new prep course had an effect on LSAT scores for students she drew a random sample of students who had taken the LSAT with a total sample size of 15 and a mean of 153. Use a directional one-sample z test to determine whether the new prep course has an effect on LSAT scores.

In the town of Hooterville, all the downtown stores are identical and all the people who shop downtown are identical. The town can earn revenue in three ways: • It can charge each store a montly license fee. • It can charge an excise tax on the store’s merchandise. • It can charge shoppers to park on the streets (the only way to get downtown is to drive, so every shopper pays the parking fee). The town’s goal is to maximize its total revenue from all three sources. a) How big should the excise tax be? b) Suppose a court ruling requires the town to provide free parking. Now how big should the excise tax be? If necessary, you can answer in terms of labeled portions of graphs. If you do this, please be sure to say why these portions of your graph are relevant to the problem.

If a random sample of 20 homes south of a town has a mean selling price of $145,225 and a standard deviation of $4600, and a random sample of 20 homes north of a town has a mean selling price of $148,575 and a standard deviation of $5700, can you conclude that there is a significant difference between the selling price of homes in these two areas of the town at the 0.05 level? Assume normality.

(a) Find t. (Round your answer to two decimal places.)


(ii) Find the p-value. (Round your answer to four decimal places.)


(b) State the appropriate conclusion.

Fail to reject the null hypothesis. There is not significant evidence of a difference in means. Reject the null hypothesis. There is significant evidence of a difference in means.     Fail to reject the null hypothesis. There is significant evidence of a difference in means. Reject the null hypothesis. There is not significant evidence of a difference in means.

Assignment 5

11. An educational researcher wishes to compare the effectiveness of two different math textbooks. She has the tenth graders at one school use the first book for one year and the tenth  graders at another school use the second textbook for one year. At the end of the year, she gives the same math test to both classes and compares the results. A) The source B) Confounding variables C) The setting D) Selection bias E) Participation bias

12. ʺ38% of adults in the United States regularly visit a doctorʺ. This conclusion was reached by a college student after she had questioned 520 randomly selected members of her college. A) No bias B) Selection bias C) Participation bias D) Participation bias and selection bias

15. Which of the following describes the process by which scientists examine each othersʹ research? A) Considering the conclusion B) Peer review C) Participation review D) Interpretation

16. Which of the following quantities of interest would be the most difficult to define? A) The paint with the best looking finish B) The levels of lead in various brands of paint C) How water resistant a brand of paint is D) The least expensive brand of paint

17) Which of the following describes the bias that can occur when members of a studyʹs sample are volunteers? A) Single-blind bias B) Participation bias C) Sample bias D) Selection bias 3

18) The population of a town A) Quantitative B) Qualitative

19) The colors of  the houses in a city A) Quantitative B) Qualitative

20) The speed of a car in miles per hour A) Qualitative B) Quantitative

You want to borrow $60,000 for a new tricked-out Hummer H2 for your high school basketball star son.  If you can somehow qualify for an outrageously low interest rate of 4.5%, compounded monthly for a six-year (60 month) loan, what amount will your monthly payment be?