Chapter 1 Introduction Multiple-Choice Questions 1) The best definition of economics is A) how choices are made under conditions of scarcity. B) how money is used. C) how goods and services are produced. D) how businesses maximize profits. Answer: A Level of Difficulty: Easy 2) Managerial economics is best defined as the economic study of A) how businesses can make the most profits. B) how businesses can decide on the best use of scarce resources
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TEST BANK CHAPTER 1 TRUE/FALSE QUESTIONS (T) 1. The purpose of the financial system is to bring savers and borrowers together. (F) 2. Businesses are never DSUs. (T) 3. A financial claim is an “IOU” from a deficit spending unit. (T) 4. Investment bankers help DSUs bring new primary security issues to market. (F) 5. Deposits in a credit union by a household are an example of direct finance. (F) 6. When an SSU owns a financial claim created by financial
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Test Bank 1 to accompany Economics Sixteenth Edition Campbell R. McConnell University of Nebraska Stanley L. Brue Pacific Lutheran University Prepared by Stanley L. Brue Pacific Lutheran University Test Bank 1 to accompany ECONOMICS Campbell R. McConnell and Stanley L. Brue Published by McGraw-Hill‚ an imprint of The McGraw-Hill Companies‚ Inc.‚ 1221 Avenue of the Americas‚ New York‚ NY 10020. Copyright 2005 by The McGraw-Hill Companies‚ Inc. All rights reserved. The contents‚ or
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Elements of a Test of Hypothesis 1. Null Hypothesis (H0 ) - A statement about the values of population parameters which we accept until proven false. 2. Alternative or Research Hypothesis (Ha )- A statement that contradicts the null hypothesis. It represents researcher’s claim about the population parameters. This will be accepted only when data provides sufficient evidence to establish its truth. 3. Test Statistic - A sample statistic (often a formula) that is used to decide whether to reject H0
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CHAPTER 8 SECTION 1: CONTINUOUS PROBABILITY DISTRIBUTIONS MULTIPLE CHOICE 1. Which of the following represents a difference between continuous and discrete random variables? a. Continuous random variables assume an uncountable number of values‚ and discrete random variables do not. b. The probability for any individual value of a continuous random variable is zero‚ but for discrete random variables it is not. c. Probability for continuous random variables means finding the area under a
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Test Bank—Chapter One (Data Representation) Multiple Choice Questions 1. Which of the following Boolean operations produces the output 1 for the fewest number of input patterns? A. AND B. OR C. XOR ANSWER: A 2. Which of the following best describes the NOR operation? A. An XOR followed by a NOT B. An OR followed by a NOT C. A NOT followed by a NOT C. An AND followed by a NOT ANSWER: B 3. Which of the following bit patterns cannot be expressed in hexadecimal
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Validity- does the variable accurately reflect the phenomenon you are trying to measure. Reliability- does the indicator consistently assign the same number. Cross-sectional data- no time/multiple entries. Panel data set- multiple entries/over time. Time series-one entry/time. Population: the total set of items or people that a researcher is interested in studying. Sample: a subset of the population- random or nonrandom. Goal is to be representative of population.Criteria for evaluating causal relationships
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Assessing T-tests To clearly identify what a t-test accomplishes in descriptive statistics it is imperative to understand what a t-test represents. A “t-test is a parametric statistical test for comparing the means of two independent samples” (Plichta & Kelvin‚ 2013‚ p. 464). Gosset developed the t-test for use in quality control at the Guinness Brewery and published his works under the pen name “Student” (Plichta & Kelvin‚ 2013). T-tests use assumptions related to the underlying
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Satoru SHIMOKAWA‚ SOSC1100‚ Fall 2013 SOSC1100 Elementary Statistics for Social Research [Common Core (QR) for 4 year program] Fall 2013 Lectures: Wed and Fri‚ 13:30-14:50 / Rm. 4620‚ Academic Building (Lift 31-32) Course Website: http://lmes2.ust.hk INSTRUCTOR: SHIMOKAWA‚ Satoru OFFICE: 3370 Academic Building EMAIL: sosatoru@ust.hk OFFICE HOURS: Fridays‚ 3:00pm – 5:00pm TEACHING ASSISTANT: Stephen Choy OFFICE: 3001 EMAIL: choyho@ust.hk OFFICE HOURS: TBA 1. Course Description: This
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Test 8A A P Statistics Name: Directions: Work on these sheets. A random digit table is attached. Part 1: Multiple Choice. Circle the letter corresponding to the best answer. 1. In a large population of college students‚ 20% of the students have experienced feelings of math anxiety. If you take a random sample of 10 students from this population‚ the probability that exactly 2 students have experienced math anxiety is (a) 0.3020 (b) 0.2634 (c) 0.20 13 (d) 0.5 (4 1 (f) None of
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