Question Six

a) A random sample of n = 100 frames of 100mm x 50mm was selected from a consignment of 500 frames. When their depth was measured it was found that the mean was 106mm and standard deviation was 3.5mm. Construct a 90% confidence interval estimate of the mean depth of all the frame in the entire consignment.

answer; schedule c;

answermarketing metrics;

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.