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SSSSS [86.1K]
3 years ago
11

Suppose your statistics instructor gave six examinations during the semester. You received the following exam scores (percent co

rrect): 79, 64, 84, 82, 92, and 77. To compute your final course grade, the instructor decided to randomly select two exam scores, compute their mean, and use this score to determine your final course grade.
a. Compute the population mean. This is your average grade based on all of your grades. (Round your answer to 2 decimal places.)
b. Compute the population standard deviation. (Round your answer to 2 decimal places.)
Business
1 answer:
mixas84 [53]3 years ago
3 0

Answer: a) the population mean is 79.67

b) the population standard deviation is 6.20

Explanation:

a) to calculate the population mean, add all the values together, and then divide by the number of values added: (79+64+84+82+92+77)/6 = 478/6 = 79.67

b) to calculate to population standard deviation, take each value and subtract the mean, square each answer and add them all together, then divide the answer by the number of values added - 1:

(79-79.67)^{2} + (64 -79.67)^{2} + (84-79.67)^{2} + (82-79.67)^{2} + (92-79.67)^{2} + (77-79.67)^{2}  = 429.33

429.33/(6-1) = 85.87

The standard deviation will be the difference between this value and the mean:

85.87 - 79.67 = 6.20

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Answer:

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The equilibrium for the ITQ price is the difference between the <em>marginal social benefit</em> and the marginal cost. With the base marginal private cost becoming the marginal social cost, no one has the incentive to exceed the quota, as that would make the marginal cost go higher than the price, and the marginal profit lower. This notion creates the equality between self-interest and social interest.

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3 years ago
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