In a large population, 46% of the households own VCR’s. A SRS of 100 households is to be contacted and asked if they own a VCR.

a. Let p^ be the sample proportion who say they own a VCR. find the mean of the sampling distribution of the sample proportion

b. Let p^ be the sample proportion who say they own a VCR. Find the standard deviation of the sampling distribution of the sample proportion

c. Let p^ be the sample proportion who say they own a VCR. Why is the sampling distribution of p^ approximately normal

d. What is the probability that more than 60 will own VCRs?

e. Let p^ be the sample proportion who say they own a VCR. If we decrease the sample size from 100 to 50 that would multiply the standard deviation of the sampling distribution by a factor of:

The Ultimatum Game: A and B are two individuals who are to divide $100. A (chosen randomly by a coin toss) makes an offer to B. There is a minimum offer of $10. Assume, for simplicity, that offers must be evenly divisible by 10 (i.e., A can offer $10, or $20, or $30 etc.) B can either accept or reject the offer. If B accepts, they split the $100 as per the amount offered. For example, if A offers $20, and B accepts, then B gets $20 and A gets $80. Both players have full knowledge of the payoffs and rules of the game. If B rejects, both get nothing and the game ends. Assume that A and B have never met before and will never meet or play this game again, and both know it. Suppose you won the coin toss and you are A. Answer the following: What offer do you make? Why? What did you assume about B's motivation(s)?

Comment on the implications of assuming rational self-interest as the most important motivator for economic choices.

A random sample of 100 observations yields a confidence interval with a margin of error of 60. In a new study we would like to estimate the same population parameter with a margin of error of 30 (half of the old margin of error). How many observations should we sample for this new study?

Department A had 10,000 units in the beginning work in process that is 100% completed with respect to material and 55% completed with respect to conversion costs. 12,000 units were added during the period and 4,000 units remain in ending work-in-process inventory. The ending inventory were 40% completed.

Required:

a. What was the number of equivalent units of production for the period with respect to material and conversion costs if process costing, weighted average costing method is used to cost inventories?

b. What is the cost of units completed and transferred.

c. What is the cost of the units in ending work in process

A meter stick (?= 1.00 m, ?= 100 g) is made into a physical pendulum by drilling a small hole at a distance ?from the center of mass to become the pivot point. Find the distance ?, if the pendulum is to have a period of ?= 3.00 s.

A.3.79 cm

B.14.6 cm

C.20.4 cm

D.40.9 cm

E.It cannot be done.

An investment will pay $100 at the end of each of the next 3 years, $250 at the end of Year 4, $400 at the end of Year 5, and $600 at the end of Year 6. If other investments of equal risk earn 6% annually, what is its present value? Round your answer to the nearest cent. $ If other investments of equal risk earn 6% annually, what is its future value? Round your answer to the nearest cent.

The standard deviation of the annual precipitations of a region over a period of 100 years was 16 cm. During the last 15 years a standard deviation of annual precipitations was computed as 10 cm. Test the hypothesis that the precipitations in the region have become less variable than in the past, using a significance level of (a) 0.05 and (b) 0.01. Use chi-square distribution.

If a cobbler buys leather for €100 and thread for €50 and uses them to produce and sell €400 worth of shoes to consumers, the contribution to GDP is

1. €50.
2. €150.
3. €550.
4. €400.

A multiple-choice question with one possible answer.(Required)

Thomas Malthus argued that

1. an ever increasing population is constrained only by the food supply, resulting in chronic famines.
2. private charities and government aid will improve the welfare of the poor.
3. labour is the only true factor of production.
4. technological progress will continuously generate improvements in productivity and living standards.

A multiple-choice question with one possible answer.(Required)

To increase growth, governments should do all of the following except

1. nationalize major industries.
2. encourage research and development.
3. encourage foreigners to investment in your country.
4. encourage saving and investment.

A multiple-choice question with one possible answer.(Required)

Once a country is wealthy,

1. it may be harder for it to grow quickly because of the diminishing returns to capital.
2. it is nearly impossible for it to become relatively poorer.
3. it no longer needs any human capital.
4. capital becomes more productive due to the "catch-up effect."

A multiple-choice question with one possible answer.(Required)

Which of the follows is a reasonable measure of the standard of living in a country

1. the growth rate of nominal GDP per person.
2. real GDP.
3. nominal GDP
4. real GDP per person.

A multiple-choice question with one possible answer.(Required)

Which of the following is probably the least relevant to a country’s growth rate?

1. the education of the workforce
2. short-term interest rates
3. infrastructure such as roads or computer networks
4. legal restrictions on capital mobility and investment

A multiple-choice question with one possible answer.(Required)

If all other factors, including human capital, were the same, then compared with Europe, the rate of return on investment in Brazil should be

1. indeterminate, because the emerging markets are not in equilibrium
2. lower, due to a tradition of central planning
3. approximately the same, reflecting competitive pressure
4. higher, signaling a greater need for new plants and equipment

A multiple-choice question with one possible answer.(Required)

Which of the following does promote convergence between nations?

1. international patent protection
2. no foreign trade
3. no foreign direct investment
4. equal access to technology

If a cobbler buys leather for €100 and thread for €50 and uses them to produce and sell €400 worth of shoes to consumers, the contribution to GDP is

1. €50.
2. €150.
3. €550.
4. €400.

A multiple-choice question with one possible answer.(Required)

Thomas Malthus argued that

1. an ever increasing population is constrained only by the food supply, resulting in chronic famines.
2. private charities and government aid will improve the welfare of the poor.
3. labour is the only true factor of production.
4. technological progress will continuously generate improvements in productivity and living standards.

A multiple-choice question with one possible answer.(Required)

To increase growth, governments should do all of the following except

1. nationalize major industries.
2. encourage research and development.
3. encourage foreigners to investment in your country.
4. encourage saving and investment.

A multiple-choice question with one possible answer.(Required)

Once a country is wealthy,

1. it may be harder for it to grow quickly because of the diminishing returns to capital.
2. it is nearly impossible for it to become relatively poorer.
3. it no longer needs any human capital.
4. capital becomes more productive due to the "catch-up effect."

A multiple-choice question with one possible answer.(Required)

Which of the follows is a reasonable measure of the standard of living in a country

1. the growth rate of nominal GDP per person.
2. real GDP.
3. nominal GDP
4. real GDP per person.

A multiple-choice question with one possible answer.(Required)

Which of the following is probably the least relevant to a country’s growth rate?

1. the education of the workforce
2. short-term interest rates
3. infrastructure such as roads or computer networks
4. legal restrictions on capital mobility and investment

A multiple-choice question with one possible answer.(Required)

If all other factors, including human capital, were the same, then compared with Europe, the rate of return on investment in Brazil should be

1. indeterminate, because the emerging markets are not in equilibrium
2. lower, due to a tradition of central planning
3. approximately the same, reflecting competitive pressure
4. higher, signaling a greater need for new plants and equipment

A multiple-choice question with one possible answer.(Required)

Which of the following does promote convergence between nations?

1. international patent protection
2. no foreign trade
3. no foreign direct investment
4. equal access to technology

If 100 grams of KClO3 are heated to form KCl and O2 according to the equation KClO3 → KCl + O2 a. How many moles of KClO3 reacted? b. How many moles of KCl are formed? c. How many grams of KCl are formed? d. how many moles of O2 are formed? e. How many grams of O2 are formed?