In the United States, Cancer Alley is a stretch of land along the Mississippi River between New Orleans and Baton Rouge, Louisiana. Many petrochemical companies process oil into plastics and fertilizer, often releasing toxins into the environment. Residents in this area have high rates of cancer, lower incomes, and are predominantly African-American This scenario is an example of which of the following (choose one):

Group of answer choices

Environmental determinism because this location is the ideal location for chemical plants due to its proximity to the Gulf of Mexico.

Environmental possibilism because the low income residents have the possibility to create positive change through industrial development.

Environmental (in)justice because one portion of the population is disproportionately affected by the negative impacts of industrialization.

Sustainable development because the petrochemical companies have developed this river corridor in order to produce fertilizer that will increase agricultural opportunities across the country and the world.

According to a recent study annual per capita consumption of milk in the United States is 22.6 gallons. Being from the Midwest, you believe milk consumption is higher there and wish to test your hypothesis. A sample of 14 individuals from the Midwestern town of Webster City was selected and then each person's milk consumption was entered into the Microsoft Excel Online file below. Use the data to set up your spreadsheet and test your hypothesis.

Open spreadsheet

1. Develop a hypothesis test that can be used to determine whether the mean annual consumption in Webster City is higher than the national mean.

   H₀: ? _________> 22.6≥ 22.6= 22.6≤ 22.6< 22.6≠ 22.6

   H_a: ? _________> 22.6≥ 22.6= 22.6≤ 22.6< 22.6≠ 22.6

2. What is a point estimate of the difference between mean annual consumption in Webster City and the national mean?

   (2 decimals) ______

3. At ? = 0.01, test for a significant difference by completing the following.

   Calculate the value of the test statistic (2 decimals).

   _______

   The p-value is  (4 decimals)

4. Reject the null hypothesis?

   _____NoYes

   What is your conclusion?

   _________There is insufficient evidence to conclude that the population mean consumption of milk in Webster City is greater than the hypothesized mean.Conclude the population mean consumption of milk in Webster City is greater than the hypothesized mean.

1. The average height of adult females in the United States is 64.5 inches. Assume that σ = 2.8 inches and the distribution is approx. normal.
   1. Find the probability that a female selected at random is taller than 66 inches.
   2. If a sample of 25 females is selected, find the probability that their mean height would be taller than 66 inches.
   3. Which probability is smaller? What can you say about the variability of the average of sample vs. the variability of a single observation?

Assume that annual interest rates are 4 percent in the United States and 3 percent in Turkey. An FI can borrow (by issuing CDs) or lend (by purchasing CDs) at these rates. The spot rate is $0.6584/Turkish lira (TL).

a. If the forward rate is $0.6735/TL, how could the bank arbitrage using a sum of $7 million? What is the spread earned? (Do not round intermediate calculations. Round your answer to 4 decimal places. (e.g., 32.1616))

b. At what forward rate is this arbitrage eliminated? (Do not round intermediate calculations. Round your answer to 5 decimal places. (e.g., 32.16161))

According to actuarial tables, life spans in the United States are approximately normally distributed with a mean of about 75 years and a standard deviation of about 16 years.

1) Find the probability that a randomly selected person lives between 60 less than 90 years.

2) Find the probability that a randomly selected person lives less than 50 years or more than 100 years.

3) Find the probability that a randomly selected person lives exactly 75 years.

4) What age is considered to be the 99th percentile?

5) What age is considered to be in the 10th percentile?

The mean cost of domestic airfares in the United States rose to an all-time high of $375 per ticket. Airfares were based on the total ticket value, which consisted of the price charged by the airlines plus any additional taxes and fees. Assume domestic airfares are normally distributed with a standard deviation of $120. Use Table 1 in Appendix B.

a. What is the probability that a domestic airfare is $540 or more (to 4 decimals)?

b. What is the probability that a domestic airfare is $250 or less (to 4 decimals)?

c. What if the probability that a domestic airfare is between $310 and $490 (to 4 decimals)?

d. What is the cost for the 2% highest domestic airfares? (rounded to nearest dollar)

The United States Department of Agriculture (USDA), in conjunction with the Forest Service, publishes information to assist companies in estimating the cost of building a temporary road for such activities as a timber sale. Such roads are generally built for one or two seasons of use for limited traffic and are designed with the goal of reestablishing vegetative cover on the roadway and adjacent disturbed area within ten years after the termination of the contract, permit, or lease. The timber sale contract requires out sloping, removal of culverts and ditches, and building water bars or cross ditches after the road is no longer needed. As part of this estimation process, the company needs to estimate haul costs. The USDA publishes variable costs in dollars per cubic-yard-mile of hauling dirt according to the speed with which the vehicle can drive. Speeds are mainly determined by the road width, the sight distance, the grade, the curves and the turnouts. Thus, on a steep, narrow, winding road, the speed is slow; and on a flat, straight, wide road, the speed is faster. Shown below are data on speed, cost per cubic yard for a 12 cubic yard end-dump vehicle, and cost per cubic yard for a 20 cubic yard bottom-dump vehicle. Use these data and simple regression analysis to develop models for predicting the haul cost by speed for each of these two vehicles. Discuss the strength of the models. Based on the models, predict the haul cost for 35 mph and for 45 mph for each of these vehicles.

Question 1

In the United States, where land is cheap, the ratio of land to labor used in cattle raising is

higher than that of land used in wheat growing. But in more crowded countries, where land is

expensive and labor is cheap, it is common to raise cows by using less land and more labor than

Americans use to grow wheat. Can we still say that raising cattle is land-intensive compared

with farming wheat? Why or why not?

Question 2

“The world’s poorest countries cannot find anything to export. There is no resource that is

abundant, certainly not capital or land, and in small poor nations not even labor is abundant.”

Discuss.

Question 3

The US labor movement - which mostly represents blue-collar workers rather than professionals

and highly educated workers - has traditionally favored limits on imports from less-affluent

countries. Is this a shortsighted policy or a rational one in view of the interests of union members?

How does the answer depend on the model of trade (compare the predictions from the Ricardian

and the Heckscher-Ohlin models of trade)?

Consider two countries, the United States (U.S.) and Japan. In the U.S., there are two firms, Pikes Peak Steel (PPS) and General Motors (GM), both owned by U.S. citizens. In Japan, there is one firm, Toyota, owned by Japanese citizens. All of the employees of PPS and GM are U.S. citizens and all of the employees of Toyota are Japanese citizens. In a given year, PPS produces $6000 worth of steel and pays wages of $1500. It sells $2000 worth of steel to GM and $4000 worth of steel to Toyota. GM buys $2000 worth of steel from PPS and pays wages of $4000. GM produces $8000 worth of cars during the year; it sells $5500 worth of cars to consumers in the U.S., $1500 worth of cars to the U.S. government, and $1000 worth of cars to consumers in Japan. Toyota buys $4000 worth of steel from PPS and pays wages of $2500. Toyota produces $9500 worth of cars during the year; it sells $5000 worth of cars to consumers in the U.S., $1000 worth of cars to the Japanese government, and $3500 worth of cars to consumers in Japan. For the U.S. and Japan, calculate the following (please show your work) a. Gross domestic product (GDP) using the income and expenditure approaches