EBK ECONOMICS: PRINCIPLES AND POLICY
13th Edition
ISBN: 8220100605932
Author: Blinder
Publisher: Cengage Learning US
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Chapter 6, Problem 5TY
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- Please correct answer and don't used hand raitingarrow_forward05:07 614 く POAI Assignment-3_Questions_ispa ... 1 ACCT2043 Assignment 3 Question 1 (Total 20 marks) Part A (16 marks) Semester one, 2024-25 Fantastic Company is a distributor of consumer products and perpetual system is used for inventory. The following are the transactions completed in September. Date Transactions 1 Purchased merchandise for $25,000 from Best Company. on account, terms 1/10, n/45, FOB shipping point. 3 6 Paid cash $150 freight charge for the goods purchased on September 1. Sold merchandise to A&B company on account for $15,000, terms 2/15, n/30, FOB shipping destination. The merchandise cost was $8,000. 9 A&B returned merchandise of $3,000 that sold on 6 September with cost of $1,600. 13 Purchased merchandise from Medium Company on account for $18,000, terms 1/10, n/30, FOB destination. 19 21 23 After negotiation, Fantastic received a price reduction of $500 from Medium Company for the defective goods purchased on September 13. Received payment from A&B for the…arrow_forwardYou work for a company that manufactures suitcases in various colors. You come up with what you think is a great idea for a new color. Your boss is concerned that selling another color will increase the manufacturing costs, so she wants to be 99% certain that at least 15% of all the suitcases sold will be this new color before agreeing to implement it permanently. Your company sells your suitcases on multiple online sites and so you decide to market the new color on one site only for one month as a test to see what proportion of the suitcases sold are the new color. When you report the results of the test to your boss you make a Type I error.arrow_forward
- A statistics teacher wants to see if there is any difference in the performance of students on the final exam if she gives them orange jelly beans before the exam. She has a theory that orange jelly beans will change the results, but she isn't sure in which direction. She knows that the population mean score on the exam when students do not have orange jelly beans is 85 and that exam scores have an approximately symmetric distribution. She gives orange jelly beans to 25 randomly selected students and finds that these students had a sample mean score of 88 with a sample standard deviation of 5. She wants to have 99% confidence in her result.arrow_forwardA statistics teacher wants to see if there is any difference in the performance of students on the final exam if she gives them orange jelly beans before the exam. She has a theory that orange jelly beans will change the results, but she isn't sure in which direction. She knows that the population mean score on the exam when students do not have orange jelly beans is 85 and that exam scores have an approximately symmetric distribution. She gives orange jelly beans to 25 randomly selected students and finds that these students had a sample mean score of 88 with a sample standard deviation of 5. She wants to have 99% confidence in her result.arrow_forwardYou take a random sample of five City College students and record what color shirt they are wearing. Here are the results: Black Blue Blue Blue Black Calculate a point estimate for the population proportion of City College students who wear blue shirts on any particular day, based on the data in this sample. Give the symbol used to denote this point estimate and the numerical value of the point estimate.arrow_forward
- Read this Paul Krugman opinion piece from the NYT, April, 2022 for an update of some of the concepts and data that Robert Reich discusses in his decade-old YouTube video, "Inequality For All": A Small Earthquake on Staten Island, Paul Krugman, NYT, April, 2022↓ To view video, click on the "Documentary Area" link below the three video questions that follow.arrow_forwardOne short paper is optional and you can earn up to 5 additional percentage points towards your final course grade as extra credit. Find a recent article (published in 2024) from a newspaper, magazine or academic journal (either print or online) about economics, business or social science which makes use of some of the statistical concepts you have learned in this course. Then write a short analysis explaining how what you learned in this course applies to what is discussed in the article. Good sources for articles would be The Wall Street Journal, Business Week or The Economist, but you can also find applicable articles in the San Francisco Chronicle, the New York Times, or other general newspapers or news magazines.arrow_forwardPlease help me don't use AI help by yourselfarrow_forward
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