1. A Nash equilibrium occurs a. when a unilateral move by a participant does not make the participant better off. b. when a unilateral move by a participant makes the participant better off. c. when a unilateral move by a participant does not make the other participant better off. d. when a unilateral move by a participant makes the other participant worse off. 2. Several politicians have proposed a "guzzler" tax that would be added to the cost of few-miles-per-gallon vehicles. If enacted, this tax would most likely a. reduce the equilibrium price. b. increase the equilibrium output. c. increase U.S. dependency on foreign oil supplies. d. shift the supply curve (for automobiles) inward. e. do all of these.

3. A cartel is a. implicit collusion. b. explicit collusion. c. a facilitating practice. d. a merger of firms into a monopoly. e. legal in the United States.

4. In some African countries, the elephant population increased significantly when the government facilitated a. substitution of African elephants for Indian elephants. b. a shift from common ownership to private property rights. c. social regulation of elephant breeding. d. a shift from private ownership to public ownership. e. the creation of a natural monopoly. 5. Which of the following is not one of the classifications of current economic thinking? a. Keynesian economists b. Reaganomists c. Marxists d. free market economists e. All of these were presented as current schools of thought.

A 40-mile stretch of rural road with limited access is used primarily by regional commuters and business travelers to move between two major interstate highways. The legal speed limit on the road is currently 55 miles per hour (mph) and the estimated average speed is 61 mph. Traffic engineers predict that if the speed limit were raised to 65 mph and enforcement levels were kept constant, the average speed would rise to 70 mph.

Currently, an average of 5,880 vehicles per day use the stretch of road -- approximately half are commuters and half are business travelers. Traffic engineers do not expect that a higher speed limit will attract more vehicles. Vehicles using the road carry, on average, 1.6 people. Traffic engineers predict that raising the speed limit on this stretch of road would result in an additional 52 vehicle crashes involving, on average, 0.1 fatalities annually. They also predict that operating costs would rise by an average of $0.002 per mile per vehicle.

The average hourly wage in the county in which the majority of users of the road work is $18.30/hour.

What would be the general categories of benefits and costs associate with raising the speed limit?

Estimate the annual net benefits of raising the speed limit on the road from 55 mph to 65 mph. In doing this, test the sensitivity of your estimate of annual net benefits to several alternative estimates of the value of time savings and the value of life that you have selected from the chapter.

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. Complete parts​ (a) and​ (b). ​Note: A normal probability plot and boxplot of the data indicate that the differences are approximately normally distributed with no outliers. LOADING... Click the icon to view the data table. ​(a) Whether the student had unimpaired vision or wore goggles first was randomly selected. Why is this a good idea in designing the​ experiment? A. This is a good idea in designing the experiment because reaction times are different. B. This is a good idea in designing the experiment because the sample size is not large enough. C. This is a good idea in designing the experiment because it controls for any​ "learning" that may occur in using the simulator. Your answer is correct. ​(b) Use a​ 95% confidence interval to test if there is a difference in braking time with impaired vision and normal vision where the differences are computed as​ "impaired minus​ normal." The​ 95% confidence interval is ​( nothing​, nothing​). ​(Round to the nearest thousandth as​ needed.)

​Normal, Upper X Subscript i
4.49
4.34
4.58
4.56
4.31
4.83
4.55
5.00
4.79
​Impaired, Upper Y Subscript i
5.86
5.85
5.51
5.29
5.90
5.49
5.23
5.63
5.63

Part 1: Discuss the purpose and implications (higher vs. lower premiums) of each of the 8 major rating factors for determining private passenger auto insurance premiums.

Part 2: Select ONE of the following scenarios. Discuss at least 4 of the 8 factors and how they would impact that type of risk. Explain your answer and offer suggestions for how a policyholder in a similar situation might be able to lower their premiums.

1. 16-year old single male driver living with his parents in Chicago, Illinois, who maintains a 2.5 GPA at his high school. He just obtained his driver’s license after successfully completing driver’s education classes and is driving a 2002 Ford Taurus sedan to and from a private school in the suburbs.

2. 45-year old married female living in Wichita, Kansas, with an insurance score of 559. She and her spouse own a new Chevrolet Suburban full-size SUV, a Toyota Tundra pickup truck for hauling feed for their horses, and a 1965 Chevrolet Corvette. She has had no accidents or citations in the past 5 years.

3. 85-year old widowed male living in Kalona, Iowa, with an insurance score of 750. He drives a 2013 Honda Civic under 10,000 miles per year. In the past 3 years, he has been ticketed twice for speeding and had one fender-bender in the grocery store parking lot.

Based on the Sporty Cars data, is "road test" a good predictor of Price at the 95% confidence level?

Select one: a. No, the R^2 statistic indicates that only 30% of the variability in price is explained by road test. b. No, the F-statistic indicates that the regression does not explain price significantly at the ninety five percent level. c. No, the t-statistic indicates that the coefficient on road test is not significantly different than zero at the 95% confidence level. d. All of the above are true.

How might the regression model be improved?

Select one:

a. Adding other explanatory variables such as years of age, miles and condition.

b. Adding data, including more observations for both price and road test score.

c. Both A and B could help improve model predictive accuracy.

d. Nothing can be done to improve regression accuracy; the results are final.

Background Information:

Please show work in Excel

The Department of Energy and the U.S. Environmental Protection Agency's 2012 Fuel Economy Guide provides fuel efficiency data for 2012 model year cars and trucks.† The file named CarMileage provides a portion of the data for 309 cars. The column labeled Size identifies the size of the car (Compact, Midsize, and Large) and the column labeled Hwy MPG shows the fuel efficiency rating for highway driving in terms of miles per gallon. Use α = 0.05 and test for any significant difference in the mean fuel efficiency rating for highway driving among the three sizes of cars. (Hint: you will need to re-organize the data to create indicator variables for the qualitative data).

State the null and alternative hypotheses.
H₀: β₁ = β₂ = 0
H_a: One or more of the parameters is not equal to zero.

Find the value of the test statistic for the overall model. (Round your answer to two decimal places.)

Find the p-value for the overall model. (Round your answer to three decimal places.)

p-value =

please explain the process through excel

Loftus and Palmer (1974) demonstrated how the phrasing of questions regarding a perceived event could influence witnesses' memories of the event.  In other words, memory is malleable depending on what and how we are asked to recall or describe a past event. The implication of this research is that people who witness a crime, an auto accident, or some other emotionally charged event can be led to certain conclusions about what they recall due to the specific questions asked by police or lawyers.

            In a replication of this classic study, an investigator showed a film of two cars crashing into each other to a group of participants.  Later, some participants were asked: "How fast were the cars going when they smashedinto each other?"  A second group was asked: "How fast were the cars going when they bumpedinto each other?" A third group was asked: "How fast were the cars going when they contactedeach other?"  Participants in each condition estimated (in miles per hour) the speed at which the vehicle was traveling.  The results are presented in the table below.

A. Conduct a one-way analysis of variance on the above data (show your work).

B. Did the phrasing of questions about the event affect the participants’ recall? Based on these results, what can you conclude about the effect of question phrasing on recall of emotionally charged events? Given the context of this study explain the results in plain English

6. Solve the following problems. Be sure to make a complete statement connecting the confidence interval to the population parameter or the sample size to the margin of error.

a) A study of 40 English composition professors showed that they spent, on average, 12.6 minutes correcting a student’s term paper. Find the 90% confidence interval of the mean time for all English professors when σ = 2.5 minutes.

b) A study of 36 marathon runners showed that they could run at an average rate of 7.8 miles per hour. The sample standard deviation is 0.6 mph. Find the 90% confidence interval for the mean of all runners.

c) A pizza shop wishes to find the 95% confidence interval of the true mean cost of a large plain pizza. How large should the sample be if she wishes to be accurate to within $0.15. A previous study showed that the standard deviation of the price was $0.26.

d) A survey of 50 first-time white-water canoers showed that 23 did not want to repeat the experience. Find the 98% confidence interval of the true proportion of canoers who did not wish to canoe the rapids a second time.

e) A recent study indicated that 29% of the 100 women over age 55 in the study were widows.

(i) How large a sample must one take to be 95% confident that the estimate is within 0.05 of the true proportion of women over age 55 who are widows? (ii) If no estimate of the sample proportion is available, how large should the sample be?

Researchers have long suspected that texting has a detrimental effect on driving behavior. To avoid unnecessary high risk of driving on the roads, driving behavior is measured via driving simulator and the number of mistakes is recorded while texting and not texting as the person is driving the simulator. Mistakes such as failing to stay within the lane, driving at least 10 miles below or above the speed limit, and failing to use the turn signal are automatically recorded. To avoid individual differences in driving behavior, participants are tested twice: once under the “texting while driving” condition and once under the “driving without texting” condition. There are nine participants in the study. Their driving mistakes are reported in the table below.

Question: Do the data support the claim that texting has a detrimental (negative) effect on driving behavior, using an α = 0.05?

For this question, you must follow the steps of hypothesis testing and complete all your calculations by hand. Remember to show your calculations and provide your conclusions in sentence format.

Once you finish this part of the assignment, you can scan or take a photo of your work and paste the scan/photo in your Word document.

Table 1.

Number of mistakes by study participants while using the driving simulator