What I have Learn Answer the following question on a different answer sheet. 1. Why data is important in statistics? 2. For you what is the best way of gathering data? Explain your answer. 3. In what ways data are collected?

What I have Learn Answer the following question on a different answer sheet. 1. Why data is important in statistics? 2. For you what is the best way of gathering data? Explain your answer. 3. In what ways data are collected?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

ChapterD: The Expenditure-output Model

Section: Chapter Questions

Problem 12RQ: Exercise D12 What are the components on which the aggregate expenditure function is based?

See similar textbooks

Related questions

Q: Do answer and explain reason. Statistical inference is the process of _____. a. using data from a…

A: statistical inference is a method by which interference about a population is made, based on sample…

Q: Econometrics has evolved as a separate discipline from mathematical statistics because the later…

A: Economics is defined as a social science which relates to the study of allocation of scarce…

Q: During World War I and World War II, the U.S. government spent large sums of money on the war…

A: inflation is the rise in general price level of goods and services over period of time . Inflation…

Q: The table below is extracted from Goodland Republic Bureau of Statistics records for 2016 -2017. Use…

A: Nominal GDP can be calculated as follows:

Q: Indicate whether each of the following relationships is usually a direct relationship or an inverse…

A: Suppose an increase in one variable leads to an increase in another variable, then the two are…

Q: Use the hypothetical data in the table to answer the questions. City Snowfall (inches) January…

A: Average is calculated by summing the two values and divide by 2. It increases with the rise in total…

Q: Can you please answer the question: d, e, and f.

A: An excise tax is a per unit tax. It is calculated as a per unit of sales tax. Total revenues goes to…

Q: The folloving graph shovs the daily market for wine vwhen a tax on sellers is set at $0 per bottle.…

A: Quantity Price buyer pays ($) Price sellers receive ($) Before tax 250 25 25…

Q: role of statistics in business and economics"

A: Statistics- It is related to the collection, organization, analysis, interpretation, and…

Q: I Consider the demand for trading cards listed below. Month Demand Jan. 51,000 Feb. 48,000 March…

A: Take months in numerical terms like January for 1 February for 2

Q: Describe the distinction between descriptive statistics and inferential statistics.

A: The collecting, processing, compilation, distribution, and analysis of economic data is an issue in…

Q: Exercise Number 1 Taking the data of the following table answer 1 through 3. Indicators of Puerto…

A: Answer: (1). Let us first find the personal disposable income at constant prices:Personal disposable…

Q: Do averages show the real picture of data

A: Answer: The averages are simply an outcome of the sum of numbers divided by the number of units or…

Q: The GDP data collected for the current year for a number of countries are called _____. Select one:…

A: In cross-sectional data, there are several variables at the same point in time. Cross-sectional data…

Q: The blue curve on the following graph represents the demand curve facing a firm that can set its own…

A: Total revenue in economics means the total amount of money earned by a firm from the sale of its…

Q: Identify the different parts of the graph. (A]: Type your answer here (B): Type your answer here…

A: The above graph highlights the business cycle

Q: Use the item weights in the figure to determine the percentage change in the CPI that would result…

A: The cost difference between purchasing a bundle of goods and the base year is measured by the…

Q: Price P P* 0₁ Y* Y LRAS SRAS AD* AD Real GDP

A: This question asked us to understand the components of the graph—LRAS representing potential output,…

Q: Fill in the missing data for the following data.

A: The GDP deflator is the ratio of nominal GDP to real GDP and multiplying by 100. Nominal GDP is…

Q: 4. A decision at the margin Suppose that Bella is a diligent first-year college student. One Sunday,…

Q: 7. The multiplier and the MPC Consider two closed economies that are identical except for their…

A: The MPC or the marginal propensity to consume represents the proportion of an additional unit of…

Q: GDP Growth Rate 4 3 1 2015 2016 2017 2018 2019 -1 -2 -3 -4 Brazil 1Argentina 2.

A: The GDP growth rate for Brazil: In the subsequent year of 2015 and 2016, brazil saw degrowth or…

Q: can you give the formulas for each question

A: GDP, which is often computed on an annual or quarterly basis, is the total monetary worth of all…

Q: Suppose that Rosa is a diligent hard-working first-year college student. One Sunday, she decides to…

A: 300 problems were provided to the students. The time and the total problem solved are provided in…

Q: Real output in an economy grows by 1.5% but at the same time the level of unemployment increases. 8.…

A: Real output is the market value of all final goods and services produced in the economy in the given…

Q: This data is a files that was gathered for another purpose and already exists is said to be: a.…

A: In economics, various data is collected by the researchers and policymakers to analyze the past and…

Q: List the two aspects of statistics:

A: Statistics is the subject that concerns the assortment, association, examination, translation, and…

Q: 2. The language of price controls Consider the market for milk. Suppose that, in a competitive…

A: Price ceiling is a type of price control when a maximum price is set by the government on any…

Q: i. Calculate Happyland Republic's nominal GDP, real GDP in 2020. Also, calculate the GDP deflator if…

A: Below is the calculated values in table:

Q: In statistics, what is a qualitative variable that categorizes, describes, or names and element of a…

A: There are broadly two types of variable Quantitative variable : As the name suggests, those…

Q: Residents in one housing development were asked a series of questions by their homeowners’…

A: In statistics, the data is of two types - qualitative (things that can be measured subjectively) and…

Q: Question 2 For each of the following variables, indicate whether the data are time series or…

A: let,we check the data Statement A time series Spending on house hold good recorded monthly A time…

Q: Standard coefficients from multiple regression analyses for incarceration rate predicting child…

A: Regression analysis is a statistical method used to examine the relationship between a dependent…

Q: There are a number of statistics computed to measure the price level of an economy, such as the GDP…

A: The GDP deflator is a measure of the average price level of all goods and services produced in an…

Question

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: We'll answer the first question as no particular question has been mentioned.

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Can you provide solution of question 2?
Write a report on "role of statistics in business and economics"
In statistics, what is a qualitative variable that categorizes, describes, or names and element of a population?
Econometrics has evolved as a separate discipline from mathematical statistics because the later focuses on problems inherent in collecting and analysing nonexperimental data. 1. A. True B. False
Chapter 01 Homework Suppose that Rosa is a diligent hard-working first-year college student. One Sunday, she decides to start the day by working through 300 practice problems to study for the statistics class. Using a table to track her progress throughout the day, she notices that as the hours pass, it takes her longer to solve the problems. Time 7:00 AM 8:00 AM 9:00 AM 10:00 AM 11:00 AM Total Problems Solved 0 120 210 270 300 Use the table to answer the following questions. The marginal, or additional, gain from Piper's second hour spent working, from 8:00 AM to 9:00 AM, is The marginal gain from Piper's fourth hour spent working, from 10:00 AM to 11:00 AM, is problems. problems. The following week, Piper's statistics faculty advisor gives her some advice. In all their years of teaching they claim to observe that working on 105 multiple choice questions boosts a student's test score by about the same amount as spending an hour reviewing lecture notes. For simplicity, assume students…
There are a number of statistics computed to measure the price level of an economy, such as the GDP deflator and the CPI. The choice of which of these measures to use depends in many cases on the specific question you are interested in. For each of the following situations, explain whether the CPI or the GDP deflator is a more appropriate measure to use and explain why the statistic is preferred. (a) The government is interested in whether increases in defense spending are affecting the price level. (50 words) (b) An economic consulting firm is investigating the impact on the aggregate price level of more computers and electronic technology used in production.
This data is a files that was gathered for another purpose and already exists is said to be: a. observational data b. primary data c. classified data d. secondary data
Solve it correctly
Only typed answer and don't use chat gpt
Exercise Number 1 Taking the data of the following table answer 1 through 3. Indicators of Puerto Rico, 2009 (Income in millions of $) 56,098.7 Personal disposable income (Current prices) Price index to deflate personal disposable income Population Working group Job 6.014 3,961,000 1,349,000 1,166,000 3,057,000 Persons 16 years or older 1. Personal disposable income per capita at constant prices is: а. 2,269 b. 2,269 с. 2,306 d. 2,355 2. The unemployment rate is (in %) а. 13.56 b. 10.61 C. 11.70 d. 10.40 е. 11.00 3. The participation rate for that year was (in %) a. 47.9 b. 44.1 C. 45.1 d. 47.0 е. 46.4
macroeconimcs question 4
Describe the distinction between descriptive statistics and inferential statistics.