# Economics homework help

## assignment

Imagine that your Learning Team is a group of international reporters. You have been tasked with describing and critiquing the current state of the U.S. economy.

Describe the current state of the following economic factor:

## Set of data if the mean is to the right of the median, we expect the distribution of the

1 For a set of data, if the mean is to the right of the median, we expect the distribution of the data to be skewed to the left.

Select one: True or false

2 Match each word or phrase with the best definition givenA confidence interval

A parameter is

A statistic is

The mean

The mode

Arabic or English letters are used to

Descriptive Statistics is

The median

Inferential Statisitcs is

Greek letters are used to

o

o the data set is also the 50th percentile

o describe parameters

## A+ Answers

9.3 If you use a 0.10 level of significance in a two-tail hypothesis test, what is your decision rule for rejecting a null hypothesis that the population mean is 500 if you use

the Z test?

## the owner of a small business reviews her list of contracts for 2011 she finds that

1. when the owner of a small business reviews her list of contracts for 2011, she finds that 35% of the contracts were from clients she met at a large conference at the end of 2010. Answer the following questions about this situation.

A. Was this measurement obtained by a sample or a census? What words in the description of the situation make you confident that your answer is correct?

## The incomes for the five employees of Friend’s Furniture are $18,000, $24,000, $24,000

Descriptive Statistics

1. The incomes for the five employees of Friend’s Furniture are $18,000, $24,000, $24,000, $27,000 and $79,000. Calculate the mean and median salaries. In your opinion, which number gives a better indication of salaries?

## A+ Answers

1) A random sample is to be selected from a population with mu = 100 and standard deviation = 10. Determine the standard deviation of the x-bar sampling distribution for a sample size of n = 9. (three decimal places)

2) A random sample is to be selected from a population with mu = 100 and standard deviation = 10. Determine the standard deviation of the x-bar sampling distribution for a sample size of n = 400. (three decimal places)

## A+ Answers

1. The lifetimes of light bulbs of a particular type are normally distributed with a mean of 270 hours and a standard deviation of 11 hours. What percentage of the bulbs has lifetimes that lie within 2 standard deviations of the mean on either side? Apply the 68-95-99.7 rule to this question.

A. 68% B. 1005 C. 99.7% D. 95%

## A+ Answers

Question 1

A 95% confidence interval for the mean of a normal population is found to be 15.6 < µ < 25.2. What is the margin of error?

A. 3.9

B. 4.8

C. 4.9

D. 3.7

Question 2 A golfer wished to find a ball that would travel more than 170 yards when hit with his 6-iron with a club head speed of 90 miles per hour. He had a golf equipment lab test a low compression ball by having a robot swing his club 12 times at the required speed. State the null and alternative hypotheses for this test.

## MACRO - The Multiplier Effect

- Go to “FRB: Press Release—FOMC statement—December 16, 2009.” - ARTICLE PASTED BELOW
- You should now find a press release from the Board of Governors of the Federal Reserve System, dated December 16, 2009, which discusses the decisions of the Federal Open Market Committee (FOMC) for that date.

This release also states that the Federal Reserve is in the process of purchasing $1.25 trillion of agency mortgage-backed securi