In a recent year, 125.8 million adults, or 58.6% of the adult American population, were married. In a New England town, a simple random sample of 1,445 adults includes 56.1% who are married. Test the claim that this sample comes from a population with a married percentage of less than 58.6%. Use a 0.05 significance level and conduct a full hypothesis test using the six-step process.

You purchase a $325,000 town home and you pay 25 percent down. You obtain a 30-year fixed-rate mortgage with an annual interest rate of 5.75 percent and monthly payments. After five years you refinance the mortgage for 25 years at a 5.1 percent annual interest rate. After you refinance, what is the new monthly payment (to the nearest dollar)?

Suppose the demand for camping tents in the town of West Anderson is Qd=1000-8P, and the supply is Qs=12P.

In this example, the equilibrium price and Quantity is P= 50, Q = 600.

Also, here the consumer Surplus is =22500, Producer surplus= 1500. The $10 tax on purchase will in crease the price paid by buyers, therefore

Pc = Ps +$10 where Pc: Price paid by buyers and Ps: Price received by sellers

1. Find the new (after-tax) equilibrium quantity of tents, price paid by consumers, and price received by producers. (3 points)

2. How much consumer surplus is created by this market after the tax? How much producer surplus? (3 points)

3. How much tax revenue is generated for the West Anderson town government? How much deadweight loss does the tax cause? (3 points)

Assume that the (daily) demand (measured in hours of work) of unskilled

labor in a particular town is given by D(w) = 60 -w, where w denotes the hourly

wage rate. The supply of unskilled labor at the same location is given by S(w) = 3w -12.

(a) What is the competitive market equilibrium wage for unskilled labor in this

town?

(b) Plot the demand and supply curves on the same graph, having wages on the

vertical axis and hours of work (that is, labor) on the horizontal axis.

(c) Explain what would be the effect (if any) of a $20 per hour minimum wage

in this market. What happens to the market demand and market supply of

labor? Identify who benefits and who loses from such measure and by how

much. What can you say about society as a whole: is it better or worse

off (and by how much)? Draw a new graph and mark everything clearly on it.

Actions for Discussion Activity #5 Assume the following planned changes in (market) prices: (i).A State (Public) University you are currently attending has decided to raise tuition by 10% next semester. (ii). The Parking department at the university will increase the parking fee for the guaranteed but limited parking space on campus by 20% next academic year. Your home town (where you commute from) is 25 miles away from campus. (iii). The Campus bookstore will increase the prices of new textbooks, which you are required to buy, by 25%, next semester. (iv) . Your favorite restaurants down town will raise their menu prices by 10%, next month. Assuming that you have a limited (fixed) amount of income, Indicate how you are likely to respond to the above price changes? Briefly explain whether (your) demand is “elastic” or "inelastic” ,in each of the above cases?

1. A study of a disease reveals that there is an average of 1 case every 22 square miles. Residents of a town that has an area of 10 square miles are concerned because there are two cases in their area. The state’s Department of Health has decided to investigate further if the probability of getting two or more cases in this town is less than 0.05. Does the Department of Health investigate further?   (3)

2. A lottery is carried out by choosing five balls, without replacement, from a box of 35 balls. The lottery ticket has five numbers on it. Find the probability that exactly four of the balls that come out of the box match the numbers on the lottery ticket. (3)

3. A neighborhood has 32 households – 27 white, and 5 nonwhite. A subset of 9 of these households move to an adjacent neighborhood. What is the probability that less than two of the households in the new neighborhood are nonwhite? (3)

The Sacramento area was founded on the prospect of gold. Gold discovery in nearby Coloma brought countless people west with hopes of richer days and better choices for their families. In collaboration with a local merchant Sam Brannan, John Sutter and his family founded the city of Sacramento in 1848. In April of 1849, the population of the area was estimated at 150 people. By October of the same year, the population grew to a whopping 6,000 people (Wiegand, 1998). In mid-October of 1850 it is reported that a riverboat named the “New World” arrived in the area with a single passenger carrying the deadly cholera disease. As a result of exposure to cholera, reports indicated that within three weeks 800 people died of the disease. Many of those that perished are buried in a common grave located at the Old City Cemetery located at 1000 Broadway Street in Sacramento. Approximately 80 physicians were working during the time of the cholera outbreak, and 17 died from cholera within a year after initial exposure (Old City Cemetery, 2005). What type of outbreak is this? Explain and include aspects of how exposure occurred, description of whether it is epidemic, pandemic, or endemic, type of exposure etc.

What were the United States' main imports and exports during the 1990s? What trade barriers were in place during that decade? What are the pros and cons of the trade barriers used?

From your understanding, was the theory that leaders are born, not made already dispelled by the 1990s? This question is naturally up to interpretation but if you have the time I would enjoy your thoughts.