Business Majors Non-Business Majors
n1 = 8 n2 = 5
_ _
X1 = 545 X2 = 525
s1 = 120 s2 = 60
b. Using a 0.05 level of significance, test the clam that average GMAT scores for business majors is above the average GMAT scores for non-business majors in the population. Assume unequal population variances.
In: Statistics and Probability
A widget company tested 101,000 widgets, of which only 1,000 had defects. The company’s test correctly identified defects 99% of the time and correctly identified non-defects 95% of the time.
(a) What percentage of the widgets marked as defects were actually defective?
(b) What percentage of the widgets marked as non-defects were not defective?
(c) The answer to problem a is counter-intuitive. Explain what happened?
(d) What would be your suggestion for improving the accuracy of the defect/non- defect identification. Improving the accuracy of the tests is not a valid answer. R-Studio
In: Statistics and Probability
Business Majors Non-Business Majors
n1 = 8 n2 = 5
_ _
X1 = 545 X2 = 525
s1 = 120 s2 = 60
a. Using a 0.05 level of significance, test to see whether the population variances are equal. (4 points)
b. Using a 0.05 level of significance, test the clam that average GMAT scores for business majors is above the average GMAT scores for non-business majors in the population. Assume unequal population variances.
In: Statistics and Probability
21. A public park is a public good because:
a. it is both excludable and rival good.
b. it is excludable but non rival
c. it is non-excludable but rival
d. it is non-excludable and non-rival.
22. If there are 5 firms in the market each with 10% of the market share, and another 10 firms that have the remaining market split between them equally, we can say that C4 or Concentration Ratio is 55%.
True or False
23. Regulated monopolies THAT operate on cost plus pricing, may make some positive economic profit.
True or False
24.
A monopoly faces a demand curve like:
|
Price |
Quantity Demanded |
|
|
50 |
1 |
|
|
35 |
2 |
|
|
20 |
3 |
|
|
5 |
4 |
if it finds that it's MR = MC occurs at Q = 3, what is the profit that the firm will make?
a. 60
b. 20
c. There is insufficient information
d. 6.66
In: Economics
You are interested in finding a 98% confidence interval for the average commute that non-residential students have to their college. The data below show the number of commute miles for 10 randomly selected non-residential college students. Round answers to 3 decimal places where possible.
| 11 | 11 | 27 | 10 | 20 | 27 | 18 | 23 | 8 | 18 |
a. To compute the confidence interval use a
distribution.
b. With 98% confidence the population mean commute for non-residential college students is between and miles.
c. If many groups of 10 randomly selected non-residential college students are surveyed, then a different confidence interval would be produced from each group. About percent of these confidence intervals will contain the true population mean number of commute miles and about percent will not contain the true population mean number of commute miles.
In: Statistics and Probability
On 31 December 20x8, A Ltd paid $330,000 to acquire 90% of B Ltd when the fair value of B Ltd’s net assets was represented by share capital of $100,000 and retained profit of $100,000, except for an unrecognized brand-name that is deemed to have a fair value of $100,000. On this date, B Ltd’s share capital comprised 100,000 ordinary shares with a fair value of $3.30 per share.
Assume the group policy is to measure non-controlling interest at acquisition date based on its proportionate share of the fair value of identifiable net assets of subsidiaries acquired. In A Ltd’s 20x8 consolidated statement of financial position:
Non-controlling interest = $
Goodwill on consolidation = $
Assume the group policy is to measure non-controlling interest at acquisition date based on its fair value. In A Ltd’s 20x8 consolidated statement of financial position:
Non-controlling interest = $
Goodwill on consolidation = $
In: Accounting
|
An internal study by the Technology Services department at Lahey Electronics revealed company employees receive an average of 5.0 non-work-related e-mails per hour. Assume the arrival of these e-mails is approximated by the Poisson distribution. |
| a. |
What is the probability Linda Lahey, company president, received exactly 1 non-work-related e-mail between 4 P.M. and 5 P.M. yesterday? (Round your answer to 4 decimal places.) |
| Probability |
| b. |
What is the probability she received 6 or more non-work-related e-mails during the same period? (Round your answer to 4 decimal places.) |
| Probability |
| c. |
What is the probability she received four or less non-work-related e-mails during the period? (Round your answer to 4 decimal places.) |
| Probability |
In: Statistics and Probability
You are interested in finding a 95% confidence interval for the average commute that non-residential students have to their college. The data below show the number of commute miles for 12 randomly selected non-residential college students. Round answers to 3 decimal places where possible. 8 7 25 13 23 26 6 6 6 28 8 12 a. To compute the confidence interval use a distribution. b. With 95% confidence the population mean commute for non-residential college students is between and miles. c. If many groups of 12 randomly selected non-residential college students are surveyed, then a different confidence interval would be produced from each group. About percent of these confidence intervals will contain the true population mean number of commute miles and about percent will not contain the true population mean number of commute miles.
In: Statistics and Probability
You are interested in finding a 90% confidence interval for the average commute that non-residential students have to their college. The data below show the number of commute miles for 11 randomly selected non-residential college students. Round answers to 3 decimal places where possible. 25 21 26 6 25 14 26 24 7 10 14 a. To compute the confidence interval use a distribution. b. With 90% confidence the population mean commute for non-residential college students is between and miles. c. If many groups of 11 randomly selected non-residential college students are surveyed, then a different confidence interval would be produced from each group. About percent of these confidence intervals will contain the true population mean number of commute miles and about percent will not contain the true population mean number of commute miles.
In: Statistics and Probability
Two types of consumers (boaters and non-boaters) share a community on the seaside. Boating accidents can be reduced by lighthouse services. The boaters combined inverse demand for the lighthouse is P = 60 − 6Q, and the non-boaters combined inverse demand is P = 20 − 2Q. The cost of providing lighthouse services to the community is TC = Q2.
a) Briefly explain why lighthouse services can be considered a public good.
b) Find the optimal provision of lighthouse services (use Samuelson condition).
c) Suppose that no government provides lighthouses. The boaters decide to produce lighthouse services on their own. How much would they produce?
d) Suppose the boaters produce the amount in your answer to part c), and then ask the non-boaters to contribute remainder to get the optimal amount you found in part b). What would the non-boaters say?
In: Economics