How would the following changes in price affect total revenue? That is, would total revenue increase, decline, or remain unchanged?

1. Price falls and demand is inelastic.

2. Price rises and demand is elastic.

3. Price rises and supply is elastic.

4. Price rises and supply is inelastic.

5. Price rises and demand is inelastic.

6. Price falls and demand is elastic.

7. Price falls and demand is of unit elasticity

Case Study: Applying a Completely Randomized Design (Detecting Changes in Consumer Comfort)

In a study conducted to investigate browsing activity by shoppers, each shopper was initially classified as a nonbrowser, light browser, or heavy browser. For each shopper, the study obtained a measure to determine how comfortable the shopper was in a store. Higher scores indicated greater comfort. Suppose the following data were collected:

Nonbrowser               Light Browser             Heavy Browser

4                                  5                                  5

5                                  6                                  7

6                                  5                                  5

3                                  4                                  7

3                                  7                                  4

4                                  4                                  6

5                                  6                                  5

4                                  5                                  7

Using a .05 level of significance, conduct a completely randomized design hypothesis test, followed by a post-hoc comparison test if you rejected the null hypothesis. Please provide the 5 steps for both the main effect and the post-hoc test (if required), the Minitab output for each hypothesis test, and state the business implication based upon your analysis. You must use Minitab and the 5 step hypothesis testing process.

Here’s an example of reporting results in APA style:

An one way analysis of variance showed that the effect of noise was significant, F(3,27) = 5.94, p = .007. Post hoc analyses using the Tukey post hoc criterion for significance indicated that the average number of errors was significantly lower in the white noise condition (M = 12.4, SD = 2.26) than in the other two noise conditions (traffic and industrial) combined (M = 13.62, SD = 5.56), F(3, 27) = 7.77, p = .042.

Use this prototype to report results:

A one way analysis of variance showed that the effect of fill in the effect description was/was not significant, F(fill in num and denom df , ) = fill in observed F, p = fill in p-value. Post hoc analyses using the Tukey post hoc criterion for significance indicated that describe any differences and provide the M and SD, F(fill in the df for numerator and denominator) = fill in observed F, p = fill in p-value.

To conduct this test in Minitab, please use the following process:

Stack the data in columns as given above. To begin a one-way ANOVA with Stacked Data, select Stat from the menu bar. Select ANOVA from the pulldown menu. Select One-Way. In the slot Response, list the column containing the observations. In the slot Factor, list the column containing the group identifiers. For multiple comparisons, select Comparisons and make your selection from the dialog box that appears. The multiple comparison options are Tukey’s, Fisher’s, Dunnett’s, or Hsu’s MCB tests. In the multiple comparison dialog box, you can insert the family error rate in the box on the right as a whole number.

Stock A and stock B both follow geometric Brownian motion. Changes in any short interval of time are uncorrelated with each other. Does the value of a portfolio consisting of ONE of stock A and TWO of stock B follow geometric Brownian motion? Explain your answer.

Recent landscape changes in accounting and auditing developed from corporate fraud and, arguably, auditor failure. In order to continually lead and adapt to the dynamics of regulation, principles based accounting practices and auditing standards, what types of skills and traits are auditors required to possess?

Expansionary Fiscal Policy relies on changes in tax collections and government spending to achieve a non-inflationary level of employment. Given this definition what actions and projected consequences did President Obama enact to realize this goal. Include in your discussion economic conditions that existed prior to the 2008 election, i.e. the mortgage/real estate crisis, employment & unemployment, provisions President Obama used to offset the economic conditions, projected benefits vs projected detriments to the economy. Be sure to include your conclusion on whether you believe that President Obama was correct or not. Can you please answer this question specifically? Thank you

Discuss at least 3 symptoms caused by physiologic changes and consequences of hypertension. Discuss how pharmaceutical treatments are designed to alleviate those symptoms. What are the risks and benefits of these treatments? What are the potential drug interactions with these medications? What added therapy would you consider if the patient's hypertension were complicated by heart failure? What therapies would you avoid? What patient education is needed in terms of compliance and expectations of medications prescribed

1. The researcher changes the exam, slightly, every few years. Therefore, the researcher prefers to measure exam performance in an ordered fashion. He notes the highest score as 1st, the second highest score as 2nd, and so on for all 50 students.

   Is exam performance in this study a continuous or discrete measurement?
   Is exam performance a nominal, ordinal, interval, or ratio measurement? Why?

1. The researcher changes the exam, slightly, every few years. Therefore, the researcher prefers to measure exam performance in an ordered fashion. He notes the highest score as 1st, the second highest score as 2nd, and so on for all 50 students.

   Is exam performance in this study a continuous or discrete measurement?
   Is exam performance a nominal, ordinal, interval, or ratio measurement? Why?

You found that changes in an index fund occur within weeks of specific macroeconomic announcements (i.e. good news are followed by a slow increase in the fund’s price, while bad news are followed by slow decreases in price).  Is this market efficient? What forms of market efficiency are violated?