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September 16, 2014

Posts by economyst


Total # Posts: 1,118

economics
do you have a question?
October 5, 2009

Statistics
#3 is the one with the two age distributions; one for 1900, one for 2000. A is approximate the median for each of the distributions. Look on the y-axis; the little tick mark where 0.5 would be is the median point. Half the population is above, half below. Going horizontally ...
October 5, 2009

economics
take a shot, what do you think? I or others will be happy to critique your answer.
October 5, 2009

economics case analysis
First off, about 99% of basic economic questions can be answered with common sense. You really know more than you think. (Higher level econ has a lot of math mumbo-jumbo. But dont worry about that now.) Concepts: We desire goods and services (in this case jeans and sneakers) ...
October 4, 2009

Math
slope is rise over run. x changed from 1 to 2, run=1, y changed from 4 to 3, rise=-1. so slope = -1 At (-2,1), increase x by 2 to 0, y must change by -2, from 1 to -1. So at x=0, y=-1; the y-intercept. Ergo y=-x-1
October 4, 2009

Economics
Of course. The president appoints the Board.
October 4, 2009

statistics
Draw a venn diagram. a) P(C or M) = P(C)+P(M)-P(C and M) = .10 + .15 - .05 = 20% b) 15% got an A in Math, 5% both, or 33.33% of those that got an A in Chem. c) repeat logic in b) d) if they were independent, the prob of getting A's in both would be P(C)*P(M)
October 4, 2009

Economics
Do a little research on the Money Multiplier. Try here. http://en.wikipedia.org/wiki/Money_creation
October 4, 2009

Statistics
I dont think jim is correct. The SD of X+Y = sqrt[var(X)+var(Y)+2cov(XY) ] Assuming all air-travelers are independent of each other, the last term goes away. Var(X)=SD(X)^2 = 400 so SD = sqrt(100*400) = 200 take it from here.
October 3, 2009

Math
"fair" is a subjective term. However, $4 is not "actuarilly fair" as the seller pulled in $1600 and only paid out $1000. $2.50 would have been and actuarilly fair price.
September 28, 2009

statistics
For this, I would use a Poisson distribution. (There are other methods). Under a Poisson, the probability of observing exactly k true events is: P=[y^k * e^(-y)]/k! where y is the expected number = 3 So, P(0) = [3^0 * e^(-3)/0! = .04979 P(1) = 3^1 * e^(-3)/1! = .14946 and so ...
September 28, 2009

stats
You dont need a z-score for this problem. A normal distribution means that half the observations are above the mean, half below. The answer is 50%
September 28, 2009

Remy
Rise over run. Going from 1.5 to 2.5 along the x axis caused the height to go from 2 to zero. Run=1, rise=-2. So going from 1.5 should to zero should raise the point up 3. Top of the triange is at 5.
September 28, 2009

Statistics
I dont think you can say much about the shape of the comparison distribution; the center of the new sample is to the right of the original sample. Thats all I've got.
September 28, 2009

Data management!! [ Hi economyst] Please Help.
Out of the 14 try-outs, he picks 3. The possible combinations are 14-choose-3 = 14!/3!*(14-3)! = (12*13*14)/(1*2*3) = 364 a) to get 3 M and 1 F, besides himself he needs to pick 2 M and 1 F. There are 9-choose-2 possible picks of the males. and 4-choose-1 females. Following ...
September 28, 2009

Macroeconomics
Think a bit outside the box. What would you do if such a policy was enacted? What would a cheapskate do? (e.g., start burning his trash). What would a sleezeoid do? (e.g., dump his trash in someone else's bin). Remember to think like an economist. The MC of tossing more ...
September 27, 2009

statistics
There are 20 balls, this is the denominator for a and b a) there are 5 red even balls, prob=5/20 b) there are 15 red or even balls, prob=15/20 c) there are 20-choose-2 ways to choose 2 balls = 20!/2!*(20-2)! = 19*20/2 ways. This will be the denominator in c Number of ways to ...
September 26, 2009

Another Data Management Question
hint for b) Since Rain is male, having at least two males means picking at least one male. Which is equal to (1-P) where P is the probability of picking 3 females.
September 25, 2009

Another Data Management Question
Follow the logic i gave you in your previous post. Remember, the formula for n-choose-x is n!/x!*(n-x)! where ! means factorial.
September 25, 2009

data management
There ar 72 coins total a) (15+30)/72 b) the possible ways of choosing 3 coins is 72-choose-3 = 72!/3!(72-3)! = 70*71*72/6. This is the denominator. There are 15-choose-2 ways of picking the two loonies and 30-choose-1 ways of picking the quarter. So, the numerator is ((14*15...
September 25, 2009

Economics - PPF
Unfortunately, I am having trouble visualizing the graph. what are on each axis? Is the PPF on the graph drawn? Are you given a wage rate? b) is unlikely to be right as about everything we do has an opportunity cost, including giving up leisure time.
September 25, 2009

Economics
I agree; disequilibrium.
September 25, 2009

FINANCE
The present discounted value of $30,000 is about $104. However, I'd still take the $95. I'll be over 100 in 50 years and, well, whats the point? (Actually, this means my own personal discount rate is more than 12%)
September 25, 2009

Economics
Take a shot, what do you think? Hint: start with the quantity theory of money. MV=PQ
September 24, 2009

statistics
Based on your statement, 25% are red, 25% are yellow, 50% are green. take it from there
September 24, 2009

corporate finance.
I presume you mean the yield of purchasing a bond from a AAA company. US securities are the least risky and therefore have the lowest yield. AAA are slightly more risky, and so (ignoring risk) have a slightly higher yield. BB companies are substantially more risky and ergo ...
September 23, 2009

corporate finance.
I would say, "cant tell" The market could expect interest rate 2 years from now to be 6.0%. However, seeing two years in the future is more risky than 1 year. So, the higher yield in year 2 could easily be explained by the higher risk. Ditto for 3+ years.
September 23, 2009

Economics
Ms Sue is correct. Are you being asked to find some national statistic showing the average property tax for some family with $225 in income?? Otherwise, you need to provide/acquire more information.
September 22, 2009

Microecomices
Take a shot what do you think? Hint: for efficiency ask two questions: 1) is the resource going to the person who values it the most? and 2) Can you make some somebody better off without making someone else worse off.
September 22, 2009

Economics/Calculus
Elasticity is (%change in Q)/(%change in P) Here the wage rate is P and output is hours. Here (%change in Q) mid-point method is 1/5.5 = 18.18%. Take it from here.
September 21, 2009

Economics
See my post above
September 21, 2009

Economics
Prices went up from 85 to 90 (as measured by the cpi). Ergo, the purchasing power of the doller in 85 was greater. That is, a doller in 85 could buy more than a dollar in 90.
September 20, 2009

Economics
Garage sales are not in GDP.
September 20, 2009

Economics
Take a shot, what do you think? Hint. Draw a supply and demand graph. for 1) if consumers save less, they must be spending more. How is this represented with demand. For 2, if supply increases, what happens to P, what happens to Q?
September 19, 2009

Microeconomics
previous post
September 19, 2009

Microeconomics
see my previous post.
September 19, 2009

Microeconomics
Put autos on the x-axis, forklifts on the y-axis. Plot the pairs of points. (0,30), (2,27), (4,21), and so on. When you are done, you will have a production possibilities graph.
September 19, 2009

microeconomics
The correct answer is: cannot be determined with the information given. However, if you assume that the marginal output of miner is equal to the average output (a tall assumption in my opinion), then you can answer. The average output per minor at mother lode is 4 tons, the ...
September 18, 2009

ECONOMICS
I agree
September 14, 2009

Economics
I think both 3 and 4 are correct. That said, as written, 3 is the obvious choice.
September 14, 2009

Managerial Economics
Take a shot, what do you think? Hint 1: use a monopoly model Hint 2: no, yes
September 12, 2009

Managerial Economics
I answered thsi very question back in July. Cutting and pasting my response back then: (On July 23 to TrickyEconomics) --------------------------------------- You still have two values of 17 labor with different outputs. That said, here goes. A) I wish there was more data, but...
September 12, 2009

Microeconomics
Take a shot, what do you think. Hint: Draw initial supply and demand graphs. Then, shift the supply curve because of the invention and put a price ceiling. What happens?
September 9, 2009

Economics
The fundamental role of free enterprise is to allow markets to allocate scarce resources in an optimally efficient manor. Under free enterprize a) the factors of production are privately owned, b) producers get to keep or sell the fruits of their labor, c) producers sell their...
September 7, 2009

macro economics
http://en.wikipedia.org/wiki/Circular_flow_of_income
September 2, 2009

college level Macroeconomics
Note: with all of your questions, it is important to distinguish between economic growth and the economic growth rate. Most of your questions ask about growth rates. 1) I agree. 2) I agree. However c) seem plausable. I think of the net increase of the capital stock as new ...
September 1, 2009

Economics
a) ?? Is something missing?? b) new technology would shift the curve to the right.
August 30, 2009

Macroeconomics
Do a little research, then take a shot. What do you think? I or others will be happy to critique your thinking.
August 30, 2009

Economics
Do a little research, then take a shot. What do you think? I or others will be happy to critique your thinking. Hint: think about what it means to improve equity? to improve efficiency?
August 30, 2009

College Econ
Is it clothing and deer or clothing and buffalo? Doesnt matter, i'll use deer. To get 1 piece of clothing: Red must give up 2 deer. Blue must give up 1/3 deer.
August 27, 2009

Managerial Econ
See my post below to Matty64.
August 27, 2009

Managerial Econ
I or others will be glad to critique your thinking.
August 27, 2009

Managerial Econ
As I posted below ... Take a shot. What do you think?
August 27, 2009

Managerial Economics
Take a shot, what do you think. Hint: Is a product's name or unique characteristics worth anything?
August 27, 2009

Managerial Economics
Take a shot, what do you think? Hint: why do some profit-maximizing firms engage in technological change anyway?
August 26, 2009

Economics
Take a shot. What do you think? Hint for a: find Q where MC=MR. for b: find Q where MC=demand.
August 26, 2009

Economics
simply, because RNs are paid less. Maximize efficiency where MPmd/Wmd = MPrn/Wrn where Wmd = wages paid to MDs, Wrn = wages paid to RNs
August 26, 2009

Personal Finance Concepts
An excel spreadsheet is very helpful for these kinds of calculations. The balance after 1 year is B1=B0*(1+r)-P, Where B0 is the initial balance and P is the payment=11000, r is the rate of interest = .05 After 2 years its B2 = B1*(1+r)-P = (B0*(1+r)-P)*(1+r) - P = B0*(1+r)^2...
August 26, 2009

Ecnomics Answer check
Ami: Scarcity is all around us and affects many of the decisions we make, including the super-rich. For example, leisure time is often scarce for high income folks. So, vacationing in the Bahamas means not vacationing in the Swiss Alps. Going to the theater might mean not ...
August 26, 2009

Macroeconomics
If the government spends, say, $100, then somebody's income goes up by $100. That is, the initial, first round increase in income is $100. This is in turn, spent on something else or saved -- depending on the MPC. The additional spending is, in-turn, saved or spent by the ...
August 25, 2009

Macroeconomics
Think about how the multiplier works; how in increase in spending causes increases in someone's income which, in turn, increases their spending. If someone buys a good or service outside of their own community, then somebody outside of the community has an increase in ...
August 25, 2009

business statistics
As you can see, cutting and pasting does not work so well on the jiskha site. Sorry.
August 25, 2009

mathematical economics
Always Always Always, set MC=MR MC with respect to Qi and/or Qii is 20. In market i: TR is Pi*Qi = 200Qi - 2Qi^2. MR is the first derivitive. So MR = 200-4Qi MR=MC = 200-4Qi = 20. Solve for Qi. Repeat for market ii. With Qi and Qii known, solve for total profit Now for the ...
August 25, 2009

Econ
I agree
August 24, 2009

Economics
Going from 6 to 8 autos means giving up 4 beef. Going from 8 to 10 beef means giving up 2 autos.
August 22, 2009

Managerial Economics
Take a shot, what do you think? Hint: draw a supply and demand graph, then draw a ceiling price below your equilibrium price. At that price, how much are producers willing to supply? how much do consumers demand? Hint2: could people sell their rationing coupons?
August 18, 2009

Managerial Economics
The publisher paid $20 to a printer and got 20 books, or a $1 per book. He paid $5000 for a press and got 1000 books, or $5 per book. Sounds like he should get more printers and less presses.
August 18, 2009

Economics
Take a shot, what do you think?
August 18, 2009

ECON
Your MPC = 3/4, which means MPS=1/4. Do a little research on multipliers, especially the taxation multiplier. Hint: the taxation multiplier is (1/MPS)-1. Take it from here.
August 13, 2009

Microeconomics: Budjet Constraint
Take a shot, what do you think. First two assumptions. I presume you cannot by fractional sushi rolls or cans of soda. So, hint: your first budget constraint will look like steps. Second, I presume at the buffet, you can eat all the sushi rolls you want, and soda is not ...
August 6, 2009

A.P. Economics (Please check if I'm right)
Hummm Human capital is what tutoring business offers to produce; it is the product being sold. When I hear "capital" I generally think of two types: physical and financial. Physical capital are the physical items needed. You mentioned the building. Other items ...
August 6, 2009

A.P. Economics
I would put the tree into land. But this is certainly debatable. A paper company that specifically planted the tree with the intent to use the wood to make paper might very well call the tree a piece of capital.
August 6, 2009

econ
Think about and review what the demand curve represents. In this case, it is the relationship between the "price" of subprime mortgages and the amount of mortgages people would buy at that price. Using Bobpursley's excellent suggestion, let the price of subprimes...
August 5, 2009

math (really accounting)
This is an accounting problem rather than a math problem. Accounting is not my area. That said, I would guess that using a double declining balance method would be best. But, I am on very shaky ground here.
August 4, 2009

application essay, plz help Writeacher, SarJMcgin
Thank-you!!
August 4, 2009

application essay, plz help Writeacher, SarJMcgin
Below is a draft of my daughter's college scholarship application essay. I would appreciate if a few of the Jiskha gang could review and critique. Many thanks in advance. Scholarship Essay “What do you want to be when you grow up?” This is one of those questions ...
August 4, 2009

Micro-Econ
Ok, I see your graph. It looks like the demand curve crosses the x-axis at about 30. So, the demand curve can be expressed as P=120-4Q. Your question is for a simple monopolist. Total revenue is P*Q = 120Q-4Q2. MR is the first derivitive, so MR=120-8Q. It looks, from your ...
August 2, 2009

Economics
for #1 Always always always, maximize when MC=MR. (Since you have a quadratic for an MC equation, you may have two points where MC=MR. One will represent where profits are maximized, the other where profits are minimized. In calculas, check second-order conditions. Or, for ...
July 31, 2009

Economics
This is a straight monopoly problem; set MC=MR and solve for Q, and then determine P. The tricky part is that the total cost function is a cubic. Since M is given, rewrite the demand equation as Q= 212,000 - 500P. Next rewrite so P is a function of Q. so P=424 - .002Q Now then...
July 31, 2009

Micro-Economics
A most excellent question. A question asking you to think like an economist. And the question just oozes with micro-economic issues. Take a shot, what do you think. I or others will be happy to critique your thinking. Hints. Think about what the casino is selling. Assume both ...
July 30, 2009

statistics
You have posted this before. I dont see any output from the computer package., I dont see any graphic with outliers. So, it will be difficult to help. If you want the greatest rate of return, start with a purchase when the stock price is the lowest and sell when it is the ...
July 30, 2009

math & finance
first calculate the annual equivalence (1+.053/2)^2 = 1.0537 ergo, the equivalent annual rate is 5.37% Let the monthly equivalent rate be x. So (1+x/12)^12 = 1.0537 12ln(1+x/12) = ln(1.0537) = .0523078 ln(1+x/12) = .00435898 (1+x/12) = e(.00435898) = 1.0043685 x/12 = .0043685 ...
July 29, 2009

macroeconomics
this a wide-open question, of which people have written books. I guess I would start with a simple labor/leisure model (wages on the y axis, hour worked on the x) and then expand into a general supply/demand for labor. Then show some shocks to the system and show how those ...
July 29, 2009

econ
117/110 = 1.0636, go with c
July 27, 2009

stastics
It took me a few minutes to realize this is a trick question. It is impossible to have exactly one CD in the wrong envelope. If a CD is in the wrong envelope, then there must be at least one other CD in a wrong envelope. So, the probability is zero.
July 25, 2009

Economics
Take a shot, what do you think? Hint: Assume the farmers place different values on the use of pesticides, especially at the margin. Which of the two scenarios is more likely to produce an internal market for pesticides. If there is a market, who will buy and who will sell, and...
July 24, 2009

microeconomics
Gaz's answer to the first question isnt too bad, his answer to the second is completely off base; the answer has nothing to do with monopolies. Sorry Gaz. For the first, profit maximizers will allocate resorces to maximize their profits, which means using the resources to ...
July 24, 2009

college
On the demand side, think of things that affect the demand for housing in a particular location. e.g., distance from employment centers, quality of schools, property taxes, government services, etc. Also, consider short run and long run issues. On the supply side, think of ...
July 23, 2009

Basic economic True or False questions?
1) false, consumer surplus is below the demand curve, but above the price line. 2) False. Socially optimal implies that benefits from production (including any positive externalities) exceeds costs of production (including any negative externalities), ergo wealth is created. 3...
July 23, 2009

Economics
b) Optimize where MC=MR, so at $32,000 wage, the firm will hire agent 2 (34000>32000) but not agent 3 (30000<32000). c) repeat with logic in b d) repeat steps in a) e) repeat b with new schedule.
July 22, 2009

Economics
my bad, the parameter for c in my response should be -.00183
July 22, 2009

Economics
You still have two values of 17 labor with different outputs. That said, here goes. A) I wish there was more data, but a skatterplot kinda looks like an S-curve, which can be generated with a Cubic. So, yes. B) for y= ax + bx^2 + cx^3 + d I get (parameter and t-statistic): a...
July 22, 2009

Investing
6.8% + 3.5% = 10.3%
July 22, 2009

Economics
Something is wrong with your data (or, at least very confusing to me). First, how can you have a negative labor usage? You also have a negative output, which I could guess exists (existing products are destroyed rather than made). However, negative output bothers me. Second, ...
July 21, 2009

Statistics
Use a poisson distribution. For more info, See: http://en.wikipedia.org/wiki/Poisson_distribution repost if you are still having trouble.
July 21, 2009

Eco
Take a shot. What do you think. I or others will critique your response.
July 19, 2009

Statistics (Poisson)
You and Damon, I believe are both right. 23 seconds would correspond a 40% probability that at least one car showed up. (1-.4) = e^(80t/3600) ln(.6) = -.0222222t -.5108 = -.0222222t t = 22.99
July 19, 2009

Economics
A cartel profits by limiting supply, and thus driving up the price. For a cartel to survive, It must 1) keep out new entries of producers, and 2) keep its own members from cheating and over-producing. The problem, however with fresh oranges is that there are too many close ...
July 16, 2009

Micro Econ
see my post below.
July 16, 2009

Micro Econ
This is a rather open ended question. First, I believe you need to answer the question whether the 15 colleges are profit maximizers; this strongly affects how one would answer the question. If colleges are profit maximizers, then some sort of oligopoly model and all of their ...
July 15, 2009

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