Most states today have four main types of criminal homicide. Define and discuss these and provide examples.
In: Economics
what are the effects of leveling income inequality on developing states in the 21st century?
(answer in 200 word paragraph)
In: Economics
You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population mean. Interpret the results and compare the widths of the confidence intervals. If convenient, use technology to construct the confidence intervals. A random sample of 60 home theater systems has a mean price of $118.00. Assume the population standard deviation is $19.60. Construct a 90% confidence interval for the population mean.
The 90% confidence interval is ( nothing, nothing). (Round to two decimal places as needed.)
Construct a 95% confidence interval for the population mean.
The 95% confidence interval is ( nothing, nothing). (Round to two decimal places as needed.)
Interpret the results. Choose the correct answer below
A. With 90% confidence, it can be said that the population mean price lies in the first interval. With 95% confidence, it can be said that the population mean price lies in the second interval. The 95% confidence interval is wider than the 90%.
B. With 90% confidence, it can be said that the sample mean price lies in the first interval. With 95% confidence, it can be said that the sample mean price lies in the second interval. The 95% confidence interval is wider than the 90%.
C. With 90% confidence, it can be said that the population mean price lies in the first interval. With 95% confidence, it can be said that the population mean price lies in the second interval. The 95% confidence interval is narrower than the 90%.
In: Statistics and Probability
Do people eat more of a snack food when the food is labeled as
low-fat? Do people pay attention to serving size? The answer may
depend on whether the snack food is labelled low-fat and whether
the label includes serving-size information. A study investigated
these two questions using staff, grad students, and undergrad
students at a large university as subjects.
Subjects were asked to evaluate a pilot episode for an upcoming TV
show at a theater on campus and were given a bag of granola from a
respected campus restaurant. They were told to enjoy as much or as
little of the granola as they wanted. Each granola bag had two
labels: Twenty subjects were assigned to each treatment, and their
granola bags were weighed at the end of the session to determine
how much granola was eaten.
| Lable1: type | Lable2: serving size |
| "Regular Rocky Mountain Granola" | "Contains 1 Serving" |
| "Low-Fat Rocky Mountain Granola" | "Contains 2 Serving" |
| no serving-size information | |
a) Is the study an observational study or an experiment? Specifically in this study (do not give general definitions),
what are the b) experimental units (abbreviated EU, also called individuals or subjects)
c) response variable and whether it is quantitative or categorical
d) How many factors were there and what were they?
e) How many treatments were there and what were they?
f) How many experimental units were in the study?
In: Statistics and Probability
Microeconomics
Marginal Productivity and the Law of Diminishing Marginal Returns
You have recently been hired to manage a movie theater. You observe that there are many customers waiting around the concession area to buy snacks. You also observe that there is only one clerk working the counter. This employee has to do everything from get the popcorn going, stocking condiments and supplies, changing the soda canister when the syrup runs out for fountain drinks, helping customers, fill orders, collect cash, and of course, smile at the customers who have waited lengthy periods of time.
You obtain a report that shows the average sales per weekend night are $500 with one clerk. You decide to hire another clerk for the shift and sales increase to $1,000. You add one more clerk, and sales increase to $1,700. Again, you add another clerk, and sales increase to $1,900. Finally you add one more clerk, and sales increase to $2,000.
1. Calculate the marginal product associated with each clerk. Draw a table to do this.
2. At what point did the law of diminishing marginal return become evident?
3. Why did the marginal product increase as more clerks were added initially?
4. Why did the marginal product start to diminish?
In: Economics
NewTech Medical Devices is a medical devices wholesaler that commenced business on June 1, 2019. NewTech Medical Devices purchases merchandise for cash and on open account. In June 2019, NewTech Medical Devices engaged in the following purchasing and cash payment activities:
| DATE | TRANSACTIONS | |
| 2019 | ||
| June | 1 | Issued Check 101 to purchase merchandise, $3,800. |
| 3 |
Purchased merchandise for $1,350 from BioCenter Inc., Invoice 606; terms 2/10, n/30. |
|
| 5 |
Purchased merchandise for $5,150, plus a freight charge of $100, from New Concepts Corporation, Invoice 1011, terms 2/10, n/30. |
|
| 9 |
Paid amount due to BioCenter Inc. for purchase of June 3, less discount, Check 102. |
|
| 10 |
Received Credit Memorandum 227 from New Concepts Corporation for damaged merchandise totaling $350 that was returned; the goods were purchased on Invoice 1011, dated June 5. |
|
| 11 |
Purchased merchandise for $1,610 from BioCenter Inc., Invoice 612; terms 2/10, n/30. |
|
| 14 |
Paid amount due to New Concepts Corporation for Invoice 1011 of June 5, less the return of June 10 and less the cash discount, Check 103. |
|
| 15 |
Purchased merchandise with a list price of $8,500 and trade discounts of 20 percent and 15 percent from Park Research, Invoice 1029, terms n/30. |
|
| 20 | Issued Check 104 to purchase merchandise, $2,300. | |
| 25 |
Returned merchandise purchased on June 20 as defective, receiving a cash refund of $210. |
|
| 30 |
Purchased merchandise for $2,500, plus a freight charge of $78, from New Concepts Corporation, Invoice 1080; terms 2/10, n/30. |
|
Required:
Journalize the transactions in a general journal.
Analyze:
What was the amount of trade discounts received on the June 15
purchase from Park Research?
Issued Check 101 to purchase merchandise, $3,800.
Note: Enter debits before credits.
|
Purchased merchandise for $1,350 from BioCenter Inc., Invoice 606; terms 2/10, n/30.
Note: Enter debits before credits.
|
Purchased merchandise for $5,150, plus a freight charge of $100, from New Concepts Corporation, Invoice 1011, terms 2/10, n/30.
Note: Enter debits before credits.
|
Paid amount due to BioCenter Inc. for purchase of June 3, less discount, Check 102.
Note: Enter debits before credits.
|
Received Credit Memorandum 227 from New Concepts Corporation for damaged merchandise totaling $350 that was returned; the goods were purchased on Invoice 1011, dated June 5.
Note: Enter debits before credits.
|
Purchased merchandise for $1,610 from BioCenter Inc., Invoice 612; terms 2/10, n/30.
Note: Enter debits before credits.
|
Paid amount due to New Concepts Corporation for Invoice 1011 of June 5, less the return of June 10 and less the cash discount, Check 103.
Note: Enter debits before credits.
|
Purchased merchandise with a list price of $8,500 and trade discounts of 20 percent and 15 percent from Park Research, Invoice 1029, terms n/30.
Note: Enter debits before credits.
|
Issued Check 104 to purchase merchandise, $2,300.
Note: Enter debits before credits.
|
Returned merchandise purchased on June 20 as defective, receiving a cash refund of $210.
Note: Enter debits before credits.
Purchased merchandise for $2,500, plus a freight charge of $78, from New Concepts Corporation, Invoice 1080; terms 2/10, n/30. Note: Enter debits before credits.
Analyze What was the amount of trade discounts received on the June 15 purchase from Park Research?
|
In: Accounting
Recently, Verizon Wireless ran a pricing trial in order to estimate the elasticity of demand for its services. The manager selected three states that were representative of its entire service area and increased prices by 5 percent to customers in those areas. One week later, the number of customers enrolled in Verizon’s cellular plans declined 4 percent in those states, while enrollments in states where prices were not increased remained flat. The manager used this information to estimate the own-price elasticity of demand and, based on her findings, immediately increased prices in all market areas by 5 percent in an attempt to boost the company’s 2016 annual revenues. One year later, the manager was perplexed because Verizon's 2016 annual revenues were 10 percent lower than those in 2015—the price increase apparently led to a reduction in the company’s revenues. Did the manager make an error? Explain.
In: Economics
Recently, Verizon Wireless ran a pricing trial in order to estimate the elasticity of demand for its services. The manager selected three states that were representative of its entire service area and increased prices by 5 percent to customers in those areas. One week later, the number of customers enrolled in Verizon’s cellular plans declined 4 percent in those states, while enrollments in states where prices were not increased remained flat. The manager used this information to estimate the own-price elasticity of demand and, based on her findings, immediately increased prices in all market areas by 5 percent in an attempt to boost the company’s 2016 annual revenues. One year later, the manager was perplexed because Verizon's 2016 annual revenues were 10 percent lower than those in 2015—the price increase apparently led to a reduction in the company’s revenues. Did the manager make an error? Explain.
In: Economics
Recently, Verizon Wireless ran a pricing trial in order to
estimate the elasticity of demand for its services. The manager
selected three states that were representative of its entire
service area and increased prices by 5 percent to customers in
those areas. One week later, the number of customers enrolled in
Verizon’s cellular plans declined 4 percent in those states, while
enrollments in states where prices were not increased remained
flat. The manager used this information to estimate the own-price
elasticity of demand and, based on her findings, immediately
increased prices in all market areas by 5 percent in an attempt to
boost the company’s 2016 annual revenues. One year later, the
manager was perplexed because Verizon's 2016 annual revenues were
10 percent lower than those in 2015—the price increase apparently
led to a reduction in the company’s revenues.
Did the manager make an error? Explain.
In: Economics
Recently, Verizon Wireless ran a pricing trial in order to estimate the elasticity of demand for its services. The manager selected three states that were representative of its entire service area and increased prices by 5 percent to customers in those areas. One week later, the number of customers enrolled in Verizon’s cellular plans declined 4 percent in those states, while enrollments in states where prices were not increased remained flat. The manager used this information to estimate the own price elasticity of demand and, based on her findings, immediately increased prices in all market areas by 5 percent in an attempt to boost the company’s 2012 annual revenues. One year later, the manager was perplexed because Verizon’s 2012 annual revenues were 10 percent lower than those in 2011—the price increase apparently led to a reduction in the company’s revenues. Did the manager make an error? Explain.
In: Economics