Douglas, Fall 2007
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Econ 201 Final Exam
1. For a profit-maximizing monopolist,
a. MR < MC < P.
b. P > MR > MC.
c. P = MR = MC.
d.
Similarities of Translational and Rotational Kinematics
Name and section number: Shuhan Liu-C04
Partners name and section number: Tint Yadana Aung C04 1. Sketch the forces acting
on the masses and hanger
and cart. Show your coordinate systems.
2. Apply Ne
Chapter18
TheMarketsfortheFactorsofProduction
MULTIPLECHOICE
1.
Whichofthefollowingbestdescribestheeconomysstockofequipmentandstructures?
a. capital
b. aggregatedemand
c. longterminventory
d. aggregatestock
ANSWER:a.
capital
TYPE:MDIFFICULTY:1SECTION:18.1
Chapter13
TheCostsofProduction
MULTIPLECHOICE
1.
Accordingtothelawofsupply,
a. firmsproductionlevelsarenotcorrelatedwiththepriceofagood.
b. thesupplycurveslopesdownward.
c. firmsarewillingtoproduceagreaterquantityofagoodwhenthepriceofthegoodishigher.
d. N
Chapter16
Oligopoly
MULTIPLECHOICE
1.
Marketswithonlyafewsellers,eachofferingaproductsimilaroridenticaltotheothers,aretypicallyreferredtoas
a. competitivemarkets.
b. monopolymarkets.
c. monopolisticallycompetitivemarkets.
d. oligopolymarkets.
ANSWER:d.
ol
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"
"
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.
.
.
Product Life Circle?
Life Circle
World Trade Organization
brand
Toyota, Honda
.Hyundai
Hyundai
.
course
course
Student Office
course
N/R (Fail)
NR
Course
NR
Fail"
"
course
course
"
Student Office
Screen
First Term
Business Course
"B
1. What is the min, max, mean, and median of the final exams?
min(finals$scores)
[1] 55
max(finals$scores)
[1] 100
mean(finals$scores)
[1] 84.95
median(finals$scores)
[1] 90
The minimum is 55, the maximum is 100, the mean is 84.95 and the median is 90.
2.
Assume a discrete random variable X follows a discrete distribution, where the possible values of X is 0,
2, 4, 6, with corresponding probability 0.3, 0.2, 0.2, 0.3, respectively.
1. Calculate P(X >= 3) and P(X <= 4): (Write steps for partial credits!)
P(
1. Is the height variable quantitative or categorical?
The height variable is quantitative variable.
2.Attach a histogram of height variable.
3. Describe the histogram. (Is the histogram symmetric? How many modal bars does it have?
Where are they located?
Hypothesis Tests
Hypothesis Tests as Statistical Inference
Recall from chapter 5 that statistical inference is the use of a
subset of a population (the sample) to draw conclusions about the
entire population.
There are two main branches of statistical inf
Hypothesis Test Guide
I. Hypothesis Test for a Population Mean
Assumptions
1. Random sample y1 , . . . , yn N (, 2 ), sample mean y, sample variance s2 .
2. 2 is unknown.
Observed Value of Standardized Test Statistic: t =
y
0 .
s/ n
P-values:
H0
= 0
= 0