According to Wine-Searcher, wine critics generally use a wine-scoring scale to communicate their opinions on the relative quality of wines. Wine scores rangefrom 0 to 100, with a score of 95 – 100 indicating a great wine, 90 – 94 indicating an outstanding wine, 85 – 89 indicating a very good wine, 80 – 84indicating a good wine, 75 - 79 indicating a mediocre wine, and below 75 indicating that the wine is not recommended. Random ratings of a pinot noir recentlyproduced by a newly established vineyard in 2018 follow:Excel File: data07-11.xlsx879186827291607780798396a. Develop a point estimate of mean wine score for this pinot noir (to 2 decimals).b. Develop a point estimate of the standard deviation for wine scores received by this pinot noir (to 4 decimals).

Consider the given wine scores for wine that is produced by a newly started vineyard-

Answered: According to Wine-Searcher, wine…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose the profit a Honda dealership makes on the next 5 Accords it sells are:504, 1,027, 867, 1,434, 1,372. Calculate the standard deviation of the sample. (please express your answer using 2 decimal places).
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Exercise 1.4. There are two players. Each player is given an unmarked envelope and asked to put in it either nothing or $300 of his own money or $600. A referee collects the envelopes, opens them, gathers all the money, then adds 50% of that amount (using his own money) and divides the total into two equal parts which he then distributes to the players. (a) Represent this game frame with two alternative tables: the first table showing in each cell the amount of money distributed to Player 1 and the amount of money distributed to Player 2, the second table showing the change in wealth of each player (money received minus contribution). (b) Suppose that Player 1 has some animosity towards the referee and ranks the outcomes in terms of how much money the referee loses (the more, the better), while Player 2 is selfish and greedy and ranks the outcomes in terms of her own net gain. Represent the corresponding game using a table. (c) Is there a strict dominant-strategy equilibrium?
2
QUESTION 2 You work for a big retail chain that operates in a large number of regional markets and you want to investigate the effect of increased marketing spending on sales. You randomly select half of the markets and increase the marketing budget in these markets by 10%. The rest of the markets are allocated the same marketing budget as before. Then comparing the average sales in the markets with increased marketing budget and average sales in the remaining markets will give an unbiased estimate of the true causal effect of increased marketing spending on sales. True O False
The lowest boundary of the model class with size 15 is 40.the frequency of this class is 7 .find the mode if frequencies of the classes preceding and succeeding the model class is 3 and 6 respectively
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