A student takes an exam containing 15 true or false questions. If the student guesses, what is the probability that he will get exactly 13 questions right? Round your answer to four decimal places.

Exercise B4 How many indifference curves does a person have?

Exercise D21 What are some reasons that the economy might be in a recession, and what is the appropriate government action to alleviate the recession?

Go to this website (http://www.measuringworth.com/ppowerus/) for the Purchasing Power Calculator at measuringWorth.com. How much money would it take today to purchase what one dollar would have bought in the year of your birth?

Metropolitan Hospital has estimated its average monthly bed needs as N=1,000+9X where X=timeperiod(months);January2002=0 N=monthlybedneeds Assume that no new hospital additions are expected in the area in the foreseeable future. The following monthly seasonal adjustment factors have been estimated, using data from the past five years: Forecast Metropolitans bed demand for January, April, July, November, and December 2007. If the following actual and forecast values for June bed demands have been recorded, what seasonal adjustment factor would you recommend be used in making future June forecasts?

Exercise B6 What is a substitution effect?

Exercise B3 Why are indifference curves sleep on the left and flatter on the right?

Exercise D8 What determines the slope of a consumption function?

A firm experienced the demand shown in the following table. *Unkown future value to be forecast Fill in the table by preparing forecasts based on a five-year moving average, a three-year moving average, and exponential smoothing (with a w=0.9 and a w=0.3). Note The exponential smoothing forecasts may be begun by assuming Y t+1=Yt. Using the forecasts from 2005 through 2009, compare the accuracy of each of the forecasting methods based on the RMSE criterion. Which forecast would you have used for 2010? Why?

With in 1 or 2 percentage points, what has the U.S. inflation rate been during the last 20 years? Draw a graph to show the data.