6. Consider a project that would involve purchasing marginal farmland that would then be allowed to return to wetlands capable of supporting migrant birds. Researchers designed a survey to implement the dichotomous-choice method. They reported the following data: Stated Price (annual payment in dollars) Fraction of Respondents Accepting Stated Price (perecent) 96 5 89 10 80 15 64 20 46 25 30 30 18 35 10 40 4 45 2 50 What is the mean willingness to pay for the sampled population? 7

6. Consider a project that would involve purchasing marginal farmland that would then be allowed to return to wetlands capable of supporting migrant birds. Researchers designed a survey to implement the dichotomous-choice method. They reported the following data: Stated Price (annual payment in dollars) Fraction of Respondents Accepting Stated Price (perecent) 96 5 89 10 80 15 64 20 46 25 30 30 18 35 10 40 4 45 2 50 What is the mean willingness to pay for the sampled population? 7

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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QUESTION 39 A researcher reports an independent-measures t-statistic with degrees of freedom = 38 . How many participants were in the entire study? 20 40 39 76
24- Refer to the following output, what does it refer to?* Breusch-Godfrey Serial Correlation LM Test: F-statistic Prob. F(2.122) Obs R-squared 0.200071 0.415180 Prob. Chi-Square(2) 0.8189 0.8125 O a. This a heteroscedasticity test indicating that there is heteroscedastieity O b. This a heteroscedasticity test indicating that there is no heteroseedasticity O c. This an autocorrelation test indicating that thereis autocorrelation O d. This an autocorrel ation test indicating that there is no autocorrelation 25- Refertc the fallowing cutpue what does the coefficient andp-value of
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Tourism patterns are difficult to forecast; they normally vary from country to country and sometimes even between places quite close to each other. In Hong Kong, a survey asked 1,600 people their favorite Asian destination for a short holiday. The results were as follows: 43% go to China, 23% go to Thailand, 20% go to the Philippines, 5% go to Cambodia, and the rest choose other countries. The same survey has been carried out in Macau, China only 1 hour from Hong Kong by jet boat, and the results were as follows: 48%, China; 20%, Thailand; 22%, the Philippines; 3%, Cambodia; and the remaining, other destinations. Would you conclude that the patterns are the same in the two cities?
6. Imagine that I wanted to test the proposition that people think older politicians are more trustworthy. I recruited an internet sample of 90 people. Each person was asked to read a short article about a hypothetical political candidate. Random assignment determined whether the subjects were told that candidate was 65 or whether they were told that candidate was 35. After reading the article, all subjects used a 10-point scale to rate the candidate on competence, trustworthiness, and likability. I take the mean values of trustworthiness in each group, perform a difference of means test, and find a test statistic of 1.04. Should I reject the null at the 99% confidence level? Why or why not? What does that mean?
Select the scenario which is an example of voluntary sampling. Answer Keypad Keyboard Shortcuts Tables An airline is interested in getting feedback about their on-board catering experience. They place a questionnaire in the pocket behind each airline seat for passengers to O fill out. An urban planner is interested in determining the traffic volume along a particular road. To estimate the traffic volume, he counts the number of cars that go by during the next 30 minutes. O To determine the mean domestic electricity consumption in the region, the electric company collects data from randomly selected households in the given region. A fitness center has 400 male clients and 300 female clients. They plan to buy new equipment, so they randomly select 80 male clients and 60 female clients and ask them what equipment they use the most.
QUESTION 3 (Figure: US Business Cycle Expansions and Contractions) From the data on averages for all cycles we can conclude that over time: Business cycles data.pdf O The number of cycles during 1945-2020 exceeded the number of cycles during 1854-1919. The number of cycles during 1919-1945 exceeded the number of cycles during 1945-2020. The average duration of contractions during 1854-1919 was shorter than the average duration of contractions during 1945-2020. The average duration of expansions during 1854-1919 was shorter than the average duration of expansions during 1945-2020.
An economist collects data regarding the number of jobs an individual has held by age 21. Tim states he had 4 jobs, Sam had 3, Jill had 3, Sally had 2, and Watney had 10.An economist should use the to draw conclusions. A typical individual had jobs by the age 21.
In June 2015, Gallup conducted a poll of a random sample of 14802 adults to determine the well-being of people living in the United States. One question asked, "Did you exercise at least 30 minutes for 3 or more days in the past week?" In the survey, 57.3% of males and 42.7% of females responded yes to this question. Which of the following is true about this scenario?A. 57:3% and 42.7% are both statistiesB. 57.3% and 42.7% are both parameter.C. If we took another random sample of 14802 adults, we would expect to get the exact same results.
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