Use the data and Excel to answer this question. It contains the United States Census Bureau’s estimates for World Population from 1950 to 2014. You will find a column of dates and a column of data on the World Population for these years. Generate the time variable t. Then run a regression with the Population data as a dependent variable and time as the dependent variable. Have Excel report the residuals.

(a) Based on the ANOVA table and t-statistics, does the regression appear significant?

(b) Calculate the Durbin-Watson Test statistic. Is there a serial correlation problem with the data? Explain.

(d) What affect might your answer in part (b) have on your conclusions in part (a)?

Can you please give detailed steps to do on excel?

The Bureau of the Census in the United States attempted to count every U.S. resident. Suppose that the counts in the table are obtained for four counties in one region. (Give all answers to four decimal places.)

C. If one Hispanic person is selected at random from this region, what is the estimated probability that the selected individual is from Ventura?

(e) If one person is selected at random from this region, what is the estimated probability that the person is either Asian or from San Luis Obispo County?


(f) If one person is selected at random from this region, what is the estimated probability that the person is Asian or from San Luis Obispo County but not both?


(g) If two people are selected at random from this region, what is the estimated probability that both are Caucasians?


(h) If two people are selected at random from this region, what is the estimated probability that neither is Caucasian?


(i) If two people are selected at random from this region, what is the estimated probability that exactly one is a Caucasian?


(j) If two people are selected at random from this region, what is the estimated probability that both are residents of the same county?


(k) If two people are selected at random from this region, what is the estimated probability that both are from different racial/ethnic groups?

1. Which of the following represents an important difference between the United States and a socialist economy?

1. In the U.S., most forms of capital are available to private ownership; in a socialist system, they are generally not.
2. In a socialist system, the government conducts extensive research activities; in the U.S., it does not.
3. The U.S. is an example of pure capitalism; a socialist system is an example of mixed capitalism.
4. In a socialist system, the government decides how much of each kind of good is to be produced; in the U.S., this is left entirely to business firms.
5. The socialist system relies more heavily on markets to answer the basic economic questions.

2. In mixed capitalism, a market demand curve

1. Slopes upward from left to right.
2. Is unaffected by changes in consumers’ incomes and tastes.
3. Shows the amount buyers would like to purchase at various prices.
4. Measures the rate of growth of per-capita output.
5. Shifts as the price falls.

3. A decrease in demand

1. Causes the equilibrium price to rise.
2. Results from a decrease in supply.
3. Increases the quantity sold in the market.
4. Reflects an increasing consumer preference for the item.
5. Means that the demand curve has shifted to the left

Research in the gaming industry showed that 8% of all slot machines in the United States stop working each year. Short’s Game Arcade has 70 slot machines and only 5 failed last year. Use the five-step hypothesis-testing procedure at the 0.05 significance level to test whether this data contradicts the research report.

(a) State the null hypothesis and the alternate hypothesis. (Round your answers to 2 decimal places.)
H0: π =
H1: π ≠

(b) State the decision rule for 0.05 significance level. (Negative amounts should be indicated by a minus sign. Round your answers to 2 decimal places.)
H0 is rejected if z is not between _______ and _______

(c) Compute the value of the test statistic. (Negative amount should be indicated by a minus sign. Round your answer to 2 decimal places.)

(d) Determine the p-value. (Round your answer to 4 decimal places.)

Examine a famous leader here in the United States applying concepts and theories explored in a Leadership course. Follow this outline: Open with an opening paragraph describing the leader and summarizing the leadership theory that you will be addressing. (keep the background information very brief) Name three specific leadership behaviors and three specific leadership traits of this leader. Name the leadership skill and trait that you think best explains the success of this leader, and explain why. Apply this leader’s approach or style to one of the leadership theories include in this class. Explain why this leadership style or approach has been successful for this leader and make logical arguments supporting your case. Write a summarizing paragraph.

Background information: A worker in the United States and a worker in China can each produce 1,000 pairs of jeans per week. A worker in the United States can produce 50 cell phones in a week, and a worker in China can produce 100 cell phones in a week. Answer the following questions based on this information.

Part A: If each country attempted to produce both jeans and cell phones, how many jeans and cell phones could each country produce?

What would be the total number of jeans and cell phones produced by the two countries combined? (Show your work.)

Part B: Calculate the opportunity cost of producing jeans for each country. (Show your work.)

Part C: Calculate the opportunity cost of producing cell phones for each country. (Show your work.)

Part D: Determine how many jeans should be produced by each nation. (Show your work).

Part E: If each nation should specialize in producing jeans and cell phones, explain why; use economic terminology you have learned in this unit in your explanation.

Part F: Finally, how many total jeans and cell phones will be produced by the two nations combined after specialization?

. USA Today reported that about 47% of the general consumer population in the United States is loyal to the automobile manufacturer of their choice. Suppose that Chevrolet did a study of a random sample of 1006 Chevrolet owners and found that 490 stated that they would buy another Chevrolet. Test the claim by Chevrolet that the population proportion of consumers loyal to its product is different from 47%. Use = 0.05. (a) State the hypotheses for this test. (b) State the p-value for this test. (c) State your conclusion for the test in the context of the problem statement. (d) Give a 95% confidence interval for the proportion of customers loyal to Chevrolet. (e) Is your confidence interval consistent with your conclusion from the hypothesis test? Explain why or why not.

1. You moved to the United States in 2017 and became a US citizen in early 2019. You have two adult children. Your son is a citizen and resident of Japan. Your daughter is a citizen and resident of Canada. Both children are in need of immediate cash. You own 100% of the stock and serve as President of a very profitable family business which operates as a C-corp. In order to put immediate cash in your childrens’ hands you decide to transfer a 10% ownership interest in the family business to each of your children and declare a substantial dividend. At the same time, you require both children to sign an agreement that they will make a gift of their 10% ownership interest back to you at a time to be selected independently by each child, as long as the gift to you is completed by no later than December 31, 2025. Would you expect the Internal Revenue Service to challenge the validity of the original gift from you to the children? Name and describe as many as possible of the tools (or weapons) you think the IRS might use to challenge the validity of the gifts to your children?

Some observers believe that interest groups in the United States are slowly eroding democracy—that is, that most groups are interested only in personal gain, not the national interest. Countries such as Japan and Germany have very few interest groups and are thus able to make decisions more quickly with a view toward the public interest. What are some arguments in favor of our pluralist (interest group–driven) type of government? On the other hand, what are some ways that interest groups impede democracy? Which system is more preferable: one with many groups or one with few?

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 $100. Use Table 1 in Appendix B. a. What is the probability that a domestic airfare is $550 or more (to 4 decimals)? b. What is the probability that a domestic airfare is $265 or less (to 4 decimals)? c. What if the probability that a domestic airfare is between $310 and $480 (to 4 decimals)? d. What is the cost for the 3% highest domestic airfares? (rounded to nearest dollar)