2 PART 1 Introduction
Rewards for engaging in a particular activity.
What determines how much time
you decide to devote to studying one
The study of how people allocate their limited
resources to satisfy their u
Race Power and Communication
What is race, power, and communication? Define each term in detail.
Race is the idea that human species are divided into distinct categories based on physical features
Exam 3 Study Guide
Chapter 12 Money and Banking
1. How do you determine an assets liquidity?
2. What are the different functions of money?
a. Be able to identify examples for each.
3. What is included in M1?
4. What is credit?
5. Define Greshams La
1 Economic Globalization Assignment
Economic Growth: Comparative Advantage/Specialization
of Financial Markets
Public Policy: Trade Agreements
Most organizations use quality tools for various purposes related to controlling and
Although a good number of quality tools specific are available for certain domains,
fields and practices, some of the quality tools can b
Poisson Cumulative Probabilities
The rows of the table correspond to different values of (mean), and the columns correspond to different values (k) of the Poisson random variable x. The entries in the table give the cumulative probability P ( x k ) = P (
Home Work 13
1. Work standards specify time, cost, and efficiency norms for the performance of work tasks. They are typically used to monitor job performance. In the distribution center of McCormick and Co., Inc., data were collected to develop work stand
Home Work 12 1. Do the accompanying data provide sufficient evidence to conclude that a straight line is useful for characterizing the relationship between x and y? 4 1 2 6 4 5 3 3 2 2 4 4
2. Construct a scattergram for each data set. Then calculate r and
Home Work 11 1. In each case, graph the line that passes through the given points, give the slope and y-intercept for each line, and find the equations of the lines . (1,1) and (5,5) b. (0,3) and (3,0) c. (-1,1) and (4,2) d. (-6,-3) and (2,6)
2. Plot the
Home Work 10 1. A multinomial experiment with k = 3 cells and n = 320 produced the data shown in the following one-way table. Do these data provide sufficient evidence to contradict the null hypothesis that p1 = 0.25, p2 = 0.25, and p3 = 0.50? Test using
Home Work 9: 1. A random sample of 64 observations produced the following summary statistics: and
x = 0.323
s 2 = 0.034 .
a. Test the null hypothesis that = 0.1 . b. Test the null hypothesis that using = 0.1
= 0.36 against the alternative hypothesis that
Home Work 8 1. American Express Consulting reported in USA Today (June 15, 2001) that 80% of U.S. companies have formal, written travel and entertainment policies for their employees. Give the null hypothesis for testing the claim made by American Express
Home Work 7 1. In May, 2010 the National Department of Transportation reported the results of the survey. One focus of the survey was to determine the level of cell phone use by drivers while they are in the act of driving a motor passenger vehicle. Data
Home Work 6 1. A random sample of n = 64 observations is drawn from a population with a mean equal to 20 and standard deviation equal to 16. a. Give the mean and standard deviation of the (repeated) sampling distribution of X . b. Describe the shape of th
Home Work 5:
1. A continuous random variable X is uniformly distributed over the interval [0, 6]. Event A=(0.5< X< 3.5), event B=(1 X 5). a. Are events A and B dependent? Explain. b. Are events A and B mutually exclusive? Explain. c. Graph the probability
Home Work 4: 1. A Harris Interactive survey for InterContinental Hotels & Resorts asked respondents, "We traveling internationally, do you generally venture out on your own to experience culture, or stick with your tour group and itineraries?" The survey
Home Work 3: 1. Suppose that a sample space has five equally likely experimental outcomes: E1, E2, E3, E4, E5. Let A = cfw_E1, E2 B = cfw_E3, E4 C = cfw_E2, E3, E5 a. b. c. d. e. Find P(A), P(B), and P(C). Find P (A U B). Are A and B mutually exclusive? F
Home Work 2 1. Calculate the mean, median, and mode for each of the following samples: a. 7, -2, 3, 3, 0, 4 b. 2, 3, 5, 3, 2, 3, 5, 1, 2, 3, 4 c. 51, 50, 47, 50, 48, 41, 59, 68, 45, 37 2. Data on the top-ranked law firms in Florida, obtained from Florida
Home Work 1 1. To the nearest million, Table 1 shows the seven countries of the world with the largest populations. Use a pie chart to illustrate the populations of the seven countries of the world with the largest populations. Table 1 Country China India
1. A natural monopoly is based on
a. diseconomies of scale
b. diseconomies of scope
c. external diseconomies
d. economic freedom
e. economies of scale
2. Economies of scale act as a barrier to entry because
a. one large firm can supply the market at a hig
1. A family on a trip budgets $800 for sit-down restaurant meals and fast food. If the price of a fast food
meal for the family is $20, how many such meals can the family buy if they do not eat at restaurants?
2. A family on
1. In one year, a weapons plant can manufacture either 1,000 more guns or 50 more tanks. The plant's
opportunity cost of an extra tank is approximately
a. 20 guns
b. 50 guns
c. 50 tanks
d. 1/50 of a tank
e. 1/50 of a gun
2. In one year, a weapons plant ca
1. A major difference between monopolistic competition and perfect competition is the degree of product
differentiation. Pure competition has none and differentiation always exists in monopolistic competition.
2. A good is said to be excl