Homework Answers
The person who will buy the second house will spend less on it because that house is not his necessity. He already has the first house, the second house will be a luxury. We know that the price elasticity of demand for luxury goods is very high. Hence the buyer will not be willing to pay a high price for the house.
Add Answer to:
8. Individuals who buy second homes usually spend less for them than they do for their...
Students taking an achievement test for the second time usually do better than those taking the...
Students taking an achievement test for the second time usually do better than those taking the test for the first time. This is an example of the maturation effect. history effect. mortality effect. testing effect. selection bias effect.
A manufacturer of storm windows randomly sampled 14 new (less than five years of age) homes...
A manufacturer of storm windows randomly sampled 14 new (less than five years of age) homes and found that 8 of them had storm windows. Another random sample of 320 older (at least five years of age) homes was taken; 150 of them had storm windows. (a) With α 0.07, test whether more new homes have storm windows that older ones (b) Find a 99% confidence interval for the difference between the proportion of new homes with storm windows and...
According to the research, 46% of homes sold in a certain month and year were A random sample of 165 people who jus...
According to the research, 46% of homes sold in a certain month and year were A random sample of 165 people who just purchased homes is selected Complete parts a through e below purchased by first-time buyers. a. Calculate the standard error of the proportion (Round to four decimal places as needed.) P b. What is the probability that less than 77 of them are first-time buyers? P/Less than 77 of them are first-time buyers)=| (Round to four decimal places...
It appears that people who are mildly obese are less active than leaner people. One study...
It appears that people who are mildly obese are less active than leaner people. One study looked at the average number of minutes per day that people spend standing or walking. Among mildly obese people, minutes of activity is normally distributed with mean 373 minutes and standard deviation of 67 minutes. The least active 20% of these individuals spend at most how many minutes walking or standing? Answer in a whole number without the unit.
At the minimum wage (set above the equilibrium wage), A : all individuals who end up working are paid less than if they...
At the minimum wage (set above the equilibrium wage), A : all individuals who end up working are paid less than if they were paid the equilibrium wage. B : none of the workers will lose there jobs or find themselves working fewer hours. C : none of the individuals who end up working are paid more than if they were paid the equilibrium wage. D : there will be fewer people working (or fewer labor hours demanded) than at...
8. Darlene decides to spend two hours sunbathing in the afternoon rather than working at her...
8. Darlene decides to spend two hours sunbathing in the afternoon rather than working at her job which pays $10 per hour. Darlene’s tradeoff is A. the beautiful tan she obtains from sunbathing for those two hours. B. the $20 she could have earned working for two hours. C. nothing, because she enjoys sunbathing more than working. D. nothing, because she enjoys working more than sunbathing. E. nothing, because she spent $20 for suntan lotion and cold beverages to consume...
A researcher believes that the proportion of women who like chocolate is less than the proportion...
A researcher believes that the proportion of women who like chocolate is less than the proportion of men who like chocolate. To find out she asks 120 women if they like chocolate, and 102 say they do. Then she asks 150 men if they like chocolate, and only 132 of them do. The p-value of the test is approximately:
2. There are 8 people in the market who want to buy a Macbook. Their reservation...
2. There are 8 people in the market who want to buy a Macbook. Their reservation prices (in hundreds of dollars) for a Macbook are provided below. Person A с 30 р 35 F 1181155 0 a. Draw the market demand for Macbooks. b. Suppose the supply of Macbook is fixed at 5 units. In this case, there is a whole range of prices that will be equilibrium prices. What is the highest price that would produce the equilibrium quantity...
This table represents the first 8 observations from a sample of 200 individuals who reported their age, race, incom...
This table represents the first 8 observations from a sample of 200 individuals who reported their age, race, income and job satisfaction of a scale from 0 to 100. Score e Race Income than $10,000 29 33 B $20,000-23,000 32 41 B more than $100,000 84 21 26 A $30,000-40,000 78 22 O $10,000-20,00087 42 34 $50,000-60,000 21 26 W less than $10,000 91 19 A $40,000-50,000 Which type of plot would be most useful for visualizing the relationship between...
#9 A headline in a certain newspaper states that "most stay at first job less than...
#9
A headline in a certain newspaper states that "most stay at first job less than 2 years." That headline is based on an online poll of 280 college graduates. Among those polled, 71% stayed at their first full-time job less than 2 years. Complete parts (a) through (d). a. Assuming that 50% is the true percentage of graduates who stay at their first job less than two years, find the mean and standard deviation of the numbers of such...
A manufacturer of storm windows randomly sampled 14 new (less than five years of age) homes and found that 8 of them had storm windows. Another random sample of 320 older (at least five years of age) homes was taken; 150 of them had storm windows. (a) With α 0.07, test whether more new homes have storm windows that older ones (b) Find a 99% confidence interval for the difference between the proportion of new homes with storm windows and...
According to the research, 46% of homes sold in a certain month and year were A random sample of 165 people who just purchased homes is selected Complete parts a through e below purchased by first-time buyers. a. Calculate the standard error of the proportion (Round to four decimal places as needed.) P b. What is the probability that less than 77 of them are first-time buyers? P/Less than 77 of them are first-time buyers)=| (Round to four decimal places...
2. There are 8 people in the market who want to buy a Macbook. Their reservation prices (in hundreds of dollars) for a Macbook are provided below. Person A с 30 р 35 F 1181155 0 a. Draw the market demand for Macbooks. b. Suppose the supply of Macbook is fixed at 5 units. In this case, there is a whole range of prices that will be equilibrium prices. What is the highest price that would produce the equilibrium quantity...
This table represents the first 8 observations from a sample of 200 individuals who reported their age, race, income and job satisfaction of a scale from 0 to 100. Score e Race Income than $10,000 29 33 B $20,000-23,000 32 41 B more than $100,000 84 21 26 A $30,000-40,000 78 22 O $10,000-20,00087 42 34 $50,000-60,000 21 26 W less than $10,000 91 19 A $40,000-50,000 Which type of plot would be most useful for visualizing the relationship between...
#9
A headline in a certain newspaper states that "most stay at first job less than 2 years." That headline is based on an online poll of 280 college graduates. Among those polled, 71% stayed at their first full-time job less than 2 years. Complete parts (a) through (d). a. Assuming that 50% is the true percentage of graduates who stay at their first job less than two years, find the mean and standard deviation of the numbers of such...
Most questions answered within 3 hours.
-
A resistor and the capacitor are used to control the timing in
the RC circuit of...
asked 11 minutes ago -
Five moles of monatomic ideal gas have initial pressure 2.50 ×
103 Pa and initial volume...
asked 11 minutes ago -
Living in a group could bring several disadvantages to an
individual. What are some of the...
asked 29 minutes ago -
Complete and balance the following reactions. In case of no
reaction occurring write NR.
Mix #1:...
asked 34 minutes ago -
If an economy consumes 75% of any increase in income, then an
increase in autonomous investment...
asked 37 minutes ago -
A shotputter throws the shot with an initial speed of 15.8 m/s
at a 38.0 ∘...
asked 53 minutes ago -
Debra and Merina sell electronic equipment and supplies through
their partnership. They wish to expand their...
asked 54 minutes ago -
How does a linear regression allow you to better estimate
trends, costs, and other factors in...
asked 1 hour ago -
1. (15%) Describe the difference between a pull (Kanban), push
and CONWIP production systems.
asked 58 minutes ago -
QUESTION 5
The total area under the Z distribution curve is equal to:
a.
10
b....
asked 1 hour ago -
Using Python
The variables x and y refer to numbers. Write a code segment
that prompts...
asked 1 hour ago -
If
the coefficient of static friction between a box and the floor is
0.35 with what...
asked 1 hour ago