1) According to the theory of efficiency wages, paying an above-equilibrium wage may increase all of the following except

worker effort.

the natural rate of unemployment.

worker turnover.

the quality of a firm's workforce.

2) The main cause of the decline in labor force participation since 2007 is an increase in the number of

people in school.

retired workers.

discouraged workers.

disabled workers.

3) Complete the following statement.

If an economy has a large number of discouraged workers, the unempoyment rate will remain unaffected/be low and the employment-population ratio will be high/low

4) One explanation for the differing numbers of hours worked in the United States and western Europe is

stronger unions in the U.S.

greater taste for leisure in the U.S.

higher taxes in Europe.

more numerous languages in Europe.

.

On a planet far far away from Earth, IQ of the ruling species is normally distributed with a mean of 103 and a standard deviation of 17. Suppose one individual is randomly chosen. Let X = IQ of an individual.

a. What is the distribution of X? X ~ N(,)

b. Find the probability that a randomly selected person's IQ is over 85.  Round your answer to 4 decimal places.

c. A school offers special services for all children in the bottom 7% for IQ scores. What is the highest IQ score a child can have and still receive special services? Round your answer to 2 decimal places.

d. Find the Inter Quartile Range (IQR) for IQ scores. Round your answers to 2 decimal places.
Q1:
Q3:
IQR:

1,Tesla motors has been successful (thus far) in introducing several models of all-electric cars. They have taken advantage of which of these forces?

A)  Technology Advances

B) Economic Forces

c) Social Trends

D)  Political and Regulatory Trends

E) All of the above.

2)  UMass Medical School discover a mono-clonal antibody that could prevent rabies from developing after a bite from a rabid animal. Which of these statement is NOT true.

A) This is a great opportunity for pharmaceutical companies in the US.

B) This is a great idea since it is more effective than the existing treatments

C, This treatment is less costly than the existing treatments and would allow more people to be treated at less cost

D) The fact that rabies is endemic in India makes this an important opportunity there.

On a planet far far away from Earth, IQ of the ruling species is normally distributed with a mean of 100 and a standard deviation of 16. Suppose one individual is randomly chosen. Let X = IQ of an individual.

a. What is the distribution of X? X ~ N( ,

b. Find the probability that a randomly selected person's IQ is over 116. Round your answer to 4 decimal places.

c. A school offers special services for all children in the bottom 3% for IQ scores. What is the highest IQ score a child can have and still receive special services? Round your answer to 2 decimal places.

d. Find the Inter Quartile Range (IQR) for IQ scores. Round your answers to 2 decimal places. Q1: Q3: IQR:

Results on seat belt usage from the 2003 Youth Risk Behavior Survey were published in a USA Snapshot on January 13, 2005. The following table outlines the results from the high school students who were surveyed in the state of Nebraska. They were asked whether or not they rarely or never wear seat belts when riding in someone else's car. Using α = .05, does this sample present sufficient evidence to reject the hypothesis that gender is independent of seat belt usage?

(a) Find the test statistic. (Give your answer correct to two decimal places.)


(ii) Find the p-value. (Give your answer bounds exactly.)
< p <

1. At times we all regret decisions. Does this necessarily mean we did not use the economic decision rule when making the decision?
2. Research shows that after-school jobs are highly correlated with decreases in grade point averages. Those who work 1 to 10 hours get a 3.0 GPA and those who work 21 hours have a 2.7 GPA. Higher GPAs are, however, highly-correlated with higher lifetime earnings. Assume that a person earns $8,000 per year for working part-time in college and that the return to a 0.1 increase in GPA gives a 10 percent increase in one's lifetime earnings with a present value of $80,000.
   • What would be the argument for working rather than studying harder?
   • Is the assumption that there is a trade-off between working and grades reasonable?

1. To illustrate the effects of driving under the influence (DUI) of alcohol, a police officer brought a DUI simulator to a local high school. Student reaction time in an emergency was measured with unimpaired vision and also while wearing a pair of special goggles to simulate the effects of alcohol on vision. For a random sample of nine teenagers, the time (in seconds) required to bring the vehicle to a stop from a speed of 60 miles per hour was recorded.

Test the claim that there is a no difference in braking time with impaired vision and normal vision at the 0.05 level of significance

-Is there any way of solving this on stat crunch

The state average for the TAKS-math scores was 75 percent passing. A parent in Tyler, TX claims that students are doing much worse than the state passing rate. The high-school principal in Tyler, TX, summarized her latest TAKS-math scores from the 11th grade. Out of 120 students, 85 got a passing TAKS-math score. Is there evidence at the 5% level to support the parent’s claim?

What are the null and alternative hypotheses for this test?

a) Ho: p ≥≥ 0.75 Ha: p < 0.75

b) Ho: μμ > 0.75 Ha: μμ < 0.75

c) Ho: p = 0.75 Ha: p ≠ 0.75

d) Ho: p ≥≥  0.05 Ha: p < 0.05

What is the critical value of the test statistic?

a) -1.645

b) -2.33

c) 1.645

d) -1.28