Listed below is information on production for a firm that produces wheat. They can vary the number of workers. The land they use is fixed at one acre. The Wage is $ 20, The land costs $100, The wheat sells for $ 10 per unit.

# of workers | Total product

1...............................20

2................................70

3..............................130

4..............................180

5...............................210

6................................220

7.................................222

3) With 4 workers TOTAL COST is equal to ?

4) With 6 workers TOTAL REVENUE equal to?                   

5)With 7 workers, TOTAL PROFIT is equal to ?

6) If all these workers have the same level of skill, why does worker 6 have a LARGER marginal product than worker 7 ?

7) How many workers should this firm hire to maximize its profits ?

8) If this firm does hire the number of workers you answered for question (7), they will have TOTAL PROFITS equal to ?

9) If all these workers have the same skill level, why does worker 3 have a LARGER MPL than worker 2 ?

10) What is the amount of TOTAL FIXED costs for this firm and for all firms in the SHORT run.?

Each week, a subcommittee of four individuals is formed from among the
members of a committee comprising seven individuals. Two subcommittee
members are then assigned to lead the subcommittee, one as chair and the
other as secretary.
Calculate the maximum number of consecutive weeks that can elapse without
having the subcommittee contain four individuals who have previously served
together with the same subcommittee chair. The answer is 140. Could you explain why? Thank you so much!

In July 2017, in the economy of Sandy Island, 10,000 people were employed, 1,000 were unemployed, and 5,000 were not in the labor force. During August 2017, 80 people lost their jobs and didn’t look for new ones, 20 people quit their jobs and retired, 150 unemployed people were hired, 50 people quit the labor force, and 40 people entered the labor force to look for work. Calculate for July 2017

1. The unemployment rates.
2. The employment-to-population ratio.

And calculate for the end of August 2017

3. The number of people unemployed.
4. The number of people employed.
5. The unemployment rates.

1. A Physician orders 40 mL of an IV solution containing ampicillin to run in 30 minutes with a microdrop infusion set. This is to be followed by 500 mL of NS to infuse at 50 drops per minute with an infusion set of 20 gtt/mL.

1. What is the flow rate for the ampicillin solution?
2. What is the total infusion time for the two IV solutions?

We wish to test the hypothesis that two types of customer spend the same amount on average. From a sample of 40 “Type 1” customers, the average spend is 26.7 with a variance of 64.1, while, from a sample of 50 “Type 2” customers, the average spend is 23.3 with a variance of 55.8. The p-value for the hypothesis test is approximately what?

The price of shares of ABC stock was

• $60 on January 1, 2018
• $70 on January 1, 2019; and
• $50 on January 1, 2020.

Paul bought one share of ABC on January 1, 2018, four more on January 1, 2019, and sold all five shares on January 1, 2020.

• 1. What is the annual arithmetic (time-weighted) average return on ABC stock during the two-year period?
  2. What is the annual geometric (time-weighted) average return on ABC stock during the two-year period?
  3. What is Paul's annual dollar-weighted average return during the two-year period? (To find the return, use Excel, a financial calculator, or trial and error. Using approximation is okay. Hint - Look for an integer between -7% and -12%).
  4. Why is Paul's annual dollar-weighted average return lower than the arithmetic and geometric time-weighted annual average return of ABC?

Assume the following statistics for Stock A and Stock B:

1) What is the expected return of the portfolio that consists of stocks A and B

2) Calculate the variance of this two-security portfolio?

3) Recalculate the expected return and the variance for the portfolio of the two securities when:

- the correlation is = +1.

- the correlation = -1

- the correlation = 0

4) What do you conclude?

Please note that for all problems in this course, the standard cut-off (alpha) for a test of significance will be .05, and you always report the exact power unless SPSS output states p=.000 (you’d report p<.001). Also, remember that we divide the p value in half when reporting one-tailed tests with 1 – 2 groups.

9. Paste the relevant SPSS output, including post hocs if necessary. (2 pts)

10. Create the most appropriate graph(s) for this data given the results. (2 pts)

11. Write an APA-style Results section based on your analysis. All homework “Results sections” should follow the examples provided in the presentations and textbooks. They should include the statistical statement within a complete sentence that mentions the type of test conducted, whether the test was significant, and if relevant, effect size and/or post hoc analyses. Don’t forget to include a decision about the null hypothesis. (4 pts)

Please note that for all problems in this course, the standard cut-off (alpha) for a test of significance will be .05, and you always report the exact power unless SPSS output states p=.000 (you’d report p<.001). Also, remember that we divide the p value in half when reporting one-tailed tests with 1 – 2 groups.

9. Paste the relevant SPSS output, including post hocs if necessary. (2 pts)

10. Create the most appropriate graph(s) for this data given the results. (2 pts)

11. Write an APA-style Results section based on your analysis. All homework “Results sections” should follow the examples provided in the presentations and textbooks. They should include the statistical statement within a complete sentence that mentions the type of test conducted, whether the test was significant, and if relevant, effect size and/or post hoc analyses. Don’t forget to include a decision about the null hypothesis. (4 pts)