A student has a weekly budget of 90 for meals x and recreation y, with U=\ln x+2\ln y, p_x=3, and p_y=5. What is the optimal quantity of meals?

A Monash student allocates spending between campus lunches x and social outings y, with utility U=x^{1/3}y^{2/3}. At (x,y)=(3,12), what is MRS_{xy}=MU_x/MU_y?

In a hypothetical market for printing near Clayton, demand is Q=150-5P. At P=10, what is the absolute point price elasticity of demand?

A hypothetical per-trip levy applies to rides used by students returning from a campus event. Supply is much less elastic than demand. Which group bears most of the economic burden?

A statistics instructor believes that fewer than 20% of

Evergreen Valley College (EVC) students attended the opening night midnight

showing of the latest Marvel Universe movie. The instructor surveys 84 students

and finds that 11 attended the midnight showing. An appropriate alternative

hypothesis is:

When a new drug is created, the pharmaceutical company must

subject it to testing before receiving the necessary permission from the Food

and Drug Administration (FDA) to market the drug. Suppose the null hypothesis

is “the drug is unsafe.” What is the Type II Error?

Previously, an organization reported that teenagers spent

4.5 hours per week, on average, on the phone. The organization thinks that,

currently, the mean is higher. Fifteen randomly chosen teenagers were asked how

many hours per week they spend on the phone. The sample mean was 4.75 hours

with a sample standard deviation of 2.0. Conduct a hypothesis test. The null

and alternative hypotheses are:

It is believed that Lake Tahoe

Community College (LTCC) Intermediate Algebra students get less than seven

hours of sleep per night, on average. A survey of 22 LTCC Intermediate Algebra

students generated a mean of 7.24 hours with a standard deviation of 1.93

hours. At a level of significance of 5%, do LTCC Intermediate Algebra students

get less than seven hours of sleep per night, on average?

The

distribution to be used for this test is 

Over the past few decades, public health officials have

examined the link between weight concerns and teen girls' smoking. Researchers

surveyed a group of 273 randomly selected teen girls living in Massachusetts

(between 12 and 15 years old). After four years the girls were surveyed again.

Sixty-three said they smoked to stay thin. Is there good evidence that more

than 30% of the teen girls smoke to stay thin? The alternative hypothesis is: