A statistic center compiles data on the length of stay by patients in​ short-term hospitals. A random sample of 2121 patients yielded the data on length of​ stay, in​ days, shown below. Complete parts​ (a) through​ (e) below. 24 4 5 18 4 14 55 23 23 7 10 5 9 1 20 25 5 18 19 14 2324 4 5 18 4 14 55 23 23 7 10 5 9 1 20 25 5 18 19 14 23.

a.

Obtain and interpret the quartiles.

​(Type integers or​ decimals.)

Interpret the quartiles. Choose the correct answer below.

A.The quartiles suggest that​ 33% of the patients stayed less than

55

​days, 33% stayed between

55

and

2323

​days, and​ 33% stayed more than

2323

days.

B.The quartiles suggest that the average length of stay is

1414

days.

C.The quartiles suggest that all the patients stayed between

55

and

2323

days.

D.The quartiles suggest that​ 25% of the patients stayed less than

55

​days, 25% stayed between

55

and

1414

​days, 25% stayed between

1414

and

2323

​days, and​ 25% stayed more than

2323

days.

b.

Determine and interpret the interquartile range​ (IQR).

IQRequals=nothing

​(Simplify your answer. Type an integer or​ decimal.)

Interpret the IQR. Choose the correct answer below.

A.The data span roughly

1818

days.

B.The length of stay in the middle​ 50% of patients spans roughly

1818

days.

C.The approximate difference between each quartile is

1818.

D.The average of the first quartile and the third quartile is

1818.

c.

Find and interpret the​ five-number summary.

nothing   

nothing   

nothing   

nothing   

nothing

​(Type integers or decimals. Use ascending​ order.)

Interpret the​ five-number summary. Choose the correct answer below.

A.

The middle​ 50% has the greatest variation in the data set. The first and fourth quarters have the same variation.

B.The fourth quarter has the greatest variation. The

middle 50 %middle 50%

has the next largest variation and the

first quarterfirst quarter

has the least variation.

C.

There​ aren't as many patients in the fourth quarter as there are in the first quarter.

D.

The first quarter has the most patients recorded. The fourth quarter has the least amount of patients recorded.

d.

Identify potential​ outliers, if any. Choose the correct answer below​ and, if​ necessary, fill in the answer box to complete your choice.

A.The potential​ outlier(s) is(are)

nothing.

​(Type an integer or a decimal. Use a comma to separate answers as​ needed.)

B.

There are no potential outliers.

e.

Construct and interpret a boxplot. Choose the correct boxplot below.

A.

0102030405060

A boxplot has a horizontal axis labeled from 0 to 60 in increments of 10. There are vertical line segments drawn at the following values: 1, 5, 14, 23, 25. A box encloses the vertical line segments at 5, 14, and 23, and horizontal line segments extend outward from both sides of the box to the vertical line segments at 1 and 25. There is a plotted point at 55. All values are approximate.

B.

0102030405060

A boxplot has a horizontal axis labeled from 0 to 60 in increments of 10. There are vertical line segments drawn at the following values: 6, 10, 20, 29, 31. A box encloses the vertical line segments at 10, 20, and 29, and horizontal line segments extend outward from both sides of the box to the vertical line segments at 6 and 31. There are plotted points at 45 and 55. All values are approximate.

C.

0102030405060

A boxplot has a horizontal axis labeled from 0 to 60 in increments of 10. There are vertical line segments drawn at the following values: 2, 8, 21, 35, 38. A box encloses the vertical line segments at 8, 21, and 35, and horizontal line segments extend outward from both sides of the box to the vertical line segments at 2 and 38. All values are approximate.

Interpret the boxplot. Choose the correct answer below.

A.Most stays were approximately

2121

days. The longest stay was

37.537.5

and the shortest stay was

1.51.5.

B.The potential outlier is relatively close to the other data points. Most stays fall with the first quarter of the​ boxplot, between

7.57.5

and

2121.

C.The potential outlying observation falls far from the rest of the data. The other stays vary from

11

to

2525

days. The majority of the stays were between

55

and

2323

days.

D.The two potential outlying observations fall far from the rest of the data. The other observations vary from

6.056.05

to

31.2531.25

days. The majority of the stays were between

10.2510.25

and  

29.1529.15

days.

89. According to the acceleration principle: (a) a relatively small increase in consumer spending results in a relatively larger increase in inflation; (b) a relatively small increase in consumer spending perceived to be permanent results in a relatively larger increase in investment; (c) a relatively small decrease in the federal budget deficit results in an even LARGER increase in capital spending (due to momentum); (d) the faster interest rates decline, the faster investment spending declines.

90. In the early stages of an economic boom, a borrower’s risk is likely to be: (a) related to deflation; (b) due to sub-par food in the cafeteria; (c) due mainly to the solvency of the lender; (d) relatively low.

91. According to the permanent income hypothesis, current consumption is a function of: (a) current income; (b) expected income over a three-year time horizon; (c) wealth, including human capital; (d) all of the above.

92. A school of thought that advocates government management of aggregate demand would be most similar to: (a) supply side economics; (b) classical economics; (c) Keynesian economics; (d) rational expectations theory.

Given info

Student loan

Annual 14667

4 year total 58558

Interest 4.45%

Home

Buying home in 7 years which is 4 years after graduation

30 year mortgage fixed interest 4.37%

House is 450kwith 15% downpayment

Cost of living

Utilities monthly

Electric 45

Phone 25

Internet/cable 115

Water 50

Natural gas 120

Gas 350

Food 400

Rent 0

Yearly expenses

Technology 1000

Car maintenance 500

Clothes 1000

Vacation 1000

Bar/clubs 1000

Salary

65k plus 5k for inflation 70k

First, let's compute your monthly (don't forget to modify your interest rate, for monthly compounding!!) debt of the student loan. Your payments will start on September 2022 and nish on September 2032. Please compute your monthly payment (using the assumptions or your real data [amount loaned, interest rate and duration]) and the total interest you will pay.

2. Compute the monthly payment of your house and the total interest you will pay on it. You have until 2025 to get the money for the down payment and you will start paying your mortgage on September 2025 and continue until September 2055. Compute the total interest you will pay.

What is net tax revenue?

Select one:

A. It is the total of all taxes collected by government less spending by government on goods and services.

B. It is the total of all taxes collected by government less transfer payments.

C. It is the total of all taxes collected by government plus transfer payments.

D. It is the total of all taxes collected by the government.

) For each of the following events, explain the short-run and long-run effects on output and the price level, assuming policymakers take no action.

The stock market declines sharply, reducing consumers’ wealth.

The federal government increases spending on national defense.

A technological improvement raises productivity.

A recession overseas causes foreigners to buy fewer U.S. goods.

5. According to the textbook, which of the following statements is (are) correct?
(x) The multiplier effect is the multiplied impact on aggregate demand of a given increase in government purchases of goods and services.
(y) The marginal propensity to consume (MPC) is defined as the fraction of extra income that a household consumes rather than saves and the larger the MPC the larger the multiplier effect.
(z) According to the multiplier effect, an increase in government purchases causes interest rates to increase which increases investment spending.
A. (x), (y) and (z) B. (x) and (y) only
C. (x) and (z) only D. (y) and (z) only.
E. (y) only

6. Which of the following statements is (are) correct?
(x) According to the textbook, an increase in government spending on goods to build or repair transportation infrastructure and education facilities shifts the aggregate demand curve to the right and, in the long run, shifts the aggregate supply curve to the right.
(y) According to the crowding-out effect, an increase in government purchases causes interest rates to rise and the interest rate increase causes an increase in investment spending.
(z) The multiplier effect amplifies the effects of an increase in government expenditures, while the crowding-out effect diminishes the effects.
A. (x), (y) and (z)
B. (x) and (y) only
C. (x) and (z) only
D. (y) and (z) only.
E. (z) only

7. If consumer confidence diminishes and causes a reduction in household spending, then aggregate demand ________, which the government could offset by _________ government expenditures or ________ taxes.
A. decreases, increasing; increasing.
B. increases, increasing, decreasing.
C. increases, decreasing; increasing.
D. decreases, decreasing; increasing.
E. decreases, increasing; decreasing

Suppose overall health care spending rose from $7000 per person in 2006 to $7700 per person in 2007. [1] Calculate both the absolute change and percentage change in health care spending per person from 2006 to 2007. [2] Using 2006 as your starting year (2006 = year 0), determine an exponential equation that calculates the amount of health care spending over time assuming the annual percentage change stays the same. Clearly identify the variable names and symbols in your equation. [3] Using 2006 as your starting year (2006 = year 0), determine a linear equation that calculates the amount of health care spending over time assuming the annual absolute change stays the same. Clearly identify the variable names and symbols in your equation. [4] Create an Excel spreadsheet to compare the two growth models’ predictions for health care spending through the year 2021. Include a chart showing both models. Please clearly indicate the question number on your excel file and attach it to the test. [5] Which model first predicts that U.S. health care spending will reach a level of $10,000 per person? In what year will that occur?

) Discuss factors that influence how much total spending takes place in the Zambian economy. [6 Marks] b) What determines the level of savings in Zambia. [6 Marks] c) Explain how proportional taxes automatically stabilize total spending in Zambia. [6 Marks] d) Explain the effect of an expansionary monetary policy on real physical output, employment and inflation given that economy in Zambia is operating at potential output level. [6 Marks] e) Use the aggregate demand and the 45-degree line to represent equilibrium in the goods market. Make sure to include intercept, and slope in your graph. Further assume that interest rates decrease, show the effect of decreased interest rates on equilibrium income. Explain the stage economy goes through in moving from one equilibrium to point to another. [10 marks] f) Explain what determines consumption spending in Zambia. [6 marks] [Total 40 Marks]

1. The number of people who filed claims for unemployment benefits in the last two weeks of March was about 1 million more jobs lost than

a)were lost in the previous two weeks

b)were lost in the previous four weeks

c)the entire number of jobs in the state of Florida

d)were lost in the first two weeks of the Great Recession

2. The source for most of the data reported in the media about confirmed COVID cases and deaths is produced by

a) the World Health Organization

b) Johns Hopkins University

c) the Center for Disease Control

d) The National Institute of Health

3. According to CBO projections, real GDP growth could be ___________ in the second quarter on an annualized basis.

a)-10%

b)2.1%

c)-5%

d)-28%

Economic investment refers to _____.

1. buying a financial asset for a gain.
2. selling a financial asset for a gain.
3. postponing purchases of goods and services.
4. making new additions to a firm’s stock of capital.

Changes in interest rates, all else held constant, cause a shift in _____.

1. either the investment demand curve or the aggregate demand curve
2. the investment demand curve, but not the aggregate demand curve
3. the aggregate demand curve, but not the investment demand curve
4. the investment demand curve and the aggregate demand curve

The purpose of expansionary monetary policy is to increase _____.

1. the GDP gap
2. the inflation rate
3. real GDP
4. interest rates

Which of the following best describes the cause-and-effect chain of an expansionary monetary policy?

1. A decrease in the money supply will lower the interest rate, increase investment spending, and increase aggregate demand and GDP.
2. A decrease in the money supply will raise the interest rate, decrease investment spending, and decrease aggregate demand and GDP.
3. An increase in the money supply will raise the interest rate, decrease investment spending, and decrease aggregate demand and GDP.
4. An increase in the money supply will lower the interest rate, increase investment spending, and increase aggregate demand and GDP.