Your question is not complete but from the information I sourced for, there are total 660 families and 412 families claimed they would buy ecolabeled apples.
Answer:
0.6242 fraction of families claim they will buy ecolabeled apples
Explanation:
When a binary variable ecobuy is defined such that ecobuy = 1 if ecolbs > 0 else ecobuy = 0.
Out of 660 families, there are 412 families who claimed they would buy ecolabeled apples.
The fraction of families who claim they would buy ecolabeled apples is therefore calculated as follows; 412/660 = 0.6242 fraction of families.
In percentage; 0.6242*100 = 62.42% of families.
That means 62.4242% of families claimed they would buy ecolabeled apples.
Answer:
Approximate price of marble statue in USD is:
= Price of statue * Foreign Currency Cost of one unit
= 1,700 * 0.9213
= US$1,566.21
<em>If the nominal exchange rate for the U.S. dollar–euro rises from $1.3457 to $1.547555 per euro, the euro </em><em><u>appreciated</u></em><em> in value, or </em><em><u>appreciated</u></em><em>, relative to the U.S. dollar.</em>
If this direct rate increases from $1.3457 to $1.547555 per euro, it means that one Euro can now buy more dollars than before which means that it gained/ appreciated in value relative to the USD.
For instance: Before the change, €10 = 10 * 1.3457 = $10.3457
After the change, €10 = 10 * 1.547555 = 10.547555
Euro therefore became stronger relative to the USD.
The fact that money can be used as a medium of exchange is as a result of it being a <u>stock </u>of some items.
<h3>What can money do?</h3>
Money allows for us to trade goods and services which makes it invaluable as a medium of exchange.
The reason money can do this is because it can be denoted as the stock or value of some items.
Find out more on the purposes of money at brainly.com/question/3182649.
