Most economists consider 5% to be acceptable.
Answer:
Personal Opportunity Cost - Spare non drive time sacrifised
Social Opportunity Cost - Fuel efficiency (high pollution), Road Traffic (Congestion issues).
Explanation:
Opportunity Cost is the cost of next best alternative, foregone while choosing an alternative. Bill can commute either by bus, or by self drive.
If Bill drives his car, opportunity cost for him is - the spare time sacrifised, that he could have used while car drive in some other activity (eg reading, listening music).
Opportunity Cost for society is - the fuel utilisation & road traffic management efficiency sacrifised, by using private instead of public transport. This leads to more pollution, more congestion on roads.
Answer:
The correct approach is "Blind experiment".
Explanation:
- The Respondents or even just the Committee monitoring the procedure as well as analysis or some variation thereof, called the Blind experiment, retain such knowledge that may impart discrimination into the findings.
- Due to the lack of understanding among the members of such a community, this would be described as a blind experiment.
Answer:I think the answers would be A(maybe),B,and D.
Explanation:
I'm not sure about A. B because it stop people from entering easily. D because people can put cameras on them. I'm most sure about B though. I hoped this helped.
Answer: The confidence interval would be (82198.71, 103801.28).
Explanation:
Since we have given that
Mean = $93,000
Standard deviation = $17,000
n = 12 < 30
So, we will use 't-test' to find the 95% confidence interval,
Here , 
and 
So, according to t table, we get that
So, interval would be
Hence, the confidence interval would be (82198.71, 103801.28).
