Economics For Today
Economics For Today
10th Edition
ISBN: 9781337670654
Author: Tucker
Publisher: Cengage
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Chapter 9, Problem 6SQP
To determine

Calculation of total revenue and marginal revenue and illustration elasticity of demand.

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You 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.
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.
One 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.
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