You are an economist studying the small country of Mardodus. As you look at the data, you see Mardodus has experienced an influx of updated technology to its manufacturing plants, service industry and the medical field in the last three years. This change boosted the growth of the country’s productivity by 75%, yet you see that wages have been very slow to respond to this growth. As you begin to analyze the natural unemployment rate for this time frame, what do you most likely discover?

Which is cheaper: eating out or dining in? the mean cost of a flank steak, broccoli, and rice bought at the grocery store is $13.04 (money.msn website, november 7, 2012). a sample of 100 neighborhood restaurants showed a mean price of $12.75 and a standard deviation of $2 for a comparable restaurant meal. a. develop appropriate hypotheses for a test to determine whether the sample data support the conclusion that the mean cost of a restaurant meal is less than fixing a comparable meal at home. b. using the sample from the 100 restaurants, what is the p-value? c. at a = .05, what is your conclusion? d. repeat the preceding hypothesis test using the critical value approach