The accompanying table lists the height (STUDHGHT) in inches and weight (WEIGHT) in pounds of five college students. Calculate the correlation coefficient. STUDHGHTWEIGHT 74165 73165 72145 68155 66140
What will be an ideal response?
Answer: r = 0.72.
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Appendix: An incentive-compatible revelation mechanism is
a. self-enforcing b. always multi-period c. too complicated to influence decisions d. prevalent in vertically integrated businesses e. not adopted by franchise businesses
Assume that at the current market price of $4 per unit of a good, you are willing and able to buy 20 units. Last year at a price of $4 per unit, you would have purchased 30 units. What is most likely to have happened over the last year?
a. Demand has increased b. Demand has decreased c. Supply has increased d. Supply has decreased e. Quantity supplied has decreased
The difference between GNP and GDP is explained by:
(a) Exports and imports; (b) The level of investment; (c) Net factor income from abroad; (d) None of the above.
Suppose the balance on the current account is +$50 billion and the balance on the capital account is +$1 billion. The balance on the financial account is:
A. -$51 billion. B. -$50 billion. C. -$49 billion. D. +$51 billion.