The student will compare empirical data and a theoretical distribution to determine if data from the experiment follow a continuous distribution.
Collect the data
Measure the length of your pinkie finger (in cm.)
Randomly survey 30 adults. Round to the nearest 0.5 cm.
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Construct a histogram. Make 5-6 intervals. Sketch the graph using a ruler and pencil. Scale the axes.
Calculate the Following
Draw a smooth curve through the top of the bars of the histogram. Use 1-2 complete sentences to describe the general shape of the curve. (Keep it simple. Does the graph go straight across, does it have a V-shape, does it have a hump in the middle or at either end, etc.?)
Analyze the distribution
Using your sample mean, sample standard deviation, and histogram to help, what was the approximate theoretical distribution of the data from the section titled "Collect the Data"?
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How does the histogram help you arrive at the approximate distribution?
Describe the data
Using the data in the section titled "Collect the Data" complete the following statements. (Hint: order the data)
IQR =
15th percentile is:
85th percentile is:
Median is:
What is the empirical probability that a randomly chosen pinkie length is more than 6.5 cm?
Explain the meaning the 85th percentile of this data.
Theoretical distribution
Using the Theoretical Distribution in the section titled "Analyze the Distribution"
IQR =
15th percentile is:
85th percentile is:
Median is:
What is the theoretical probability that a randomly chosen pinkie length is more than 6.5 cm?
Explain the meaning of the 85th percentile of this data.
Discussion questions
Do the data from the section entitled "Collect the Data" give a close approximation to the theoretical distribution in "Analyze the Distribution."In complete sentences and comparing the results in the sections titled "Describe the Data" and "Theoretical Distribution", explain why or why not.
Questions & Answers
differentiate between demand and supply
giving examples
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
When MP₁ becomes negative, TP start to decline.
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
ok
Shukri
how do you save a country economic situation when it's falling apart
Economic growth as an increase in the production and consumption of goods and services within an economy.but
Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has
The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50.
A,Calculate quantities of x and y which maximize utility.
B,Calculate value of Lagrange multiplier.
C,Calculate quantities of X and Y consumed with a given price.
D,alculate optimum level of output .
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
