2 3 3 2 5 4 1 1 4 3 5 4 4 2 6 3 2     Complete the 5-step model for these data, and set alpha at 0.05. If alpha were set at 0.01, would your decision change? Explain.

Hayfever Farms is an 80‑acre hay farm in Colorado. Due to the legalization of marijuana production in the state, the owners are considering changing the farm's name to Blissful Acres and growing marijuana instead of hay. Use the information presented in the table to answer three questions. Number of acres MC $ MR $ (hay) MR $ (marijuana) 10 320 730 5,600 20 200 730 5,600 30 540 730 5,600 40 730 730 5,600 50 1,200 730 5,600 60 3,200 730 5,600 70 5,600 730 5,600 80 6,700 730 5,600 If they continue to grow only hay, how many acres should Hayfever Farms devote to growing hay in order to maximize profits? area devoted to hay:_______ acres   If the owners decide to only grow marijuana, how many acres should Blissful Acres devote to growing marijuana in order to maximize profits? area devoted to marijuana:_______ acres   Which outcome likely happens due to the legalization of marijuana production and consumption? The number of growers…

Each term (3 months) the current group of economics students completed a questionnaire as to how much they would spend on new purchases compared to how much they would save/pay off bills, if they suddenly and unexpectedly received a check for $1,000. The average MPC is shown in the table below. Month in which student poll was taken Average of students’ responses as MPC March 0.41 June 0.30 September 0.22 December 0.56   What do these MPC’s imply about the students’ thinking over the course of the year?   (Enter response here.)   What is likely happening in the economy during the same period of time?

A10

T or F  A household is frequently used in analyses because more consistent data are usually collected at that level.

Select the scenario which is an example of voluntary sampling. Answer Keypad Keyboard Shortcuts Tables An airline is interested in getting feedback about their on-board catering experience. They place a questionnaire in the pocket behind each airline seat for passengers to O fill out. An urban planner is interested in determining the traffic volume along a particular road. To estimate the traffic volume, he counts the number of cars that go by during the next 30 minutes. O To determine the mean domestic electricity consumption in the region, the electric company collects data from randomly selected households in the given region. A fitness center has 400 male clients and 300 female clients. They plan to buy new equipment, so they randomly select 80 male clients and 60 female clients and ask them what equipment they use the most.

This question is intended to have a written response given. The writtenresponse should be 2-3 paragraphs maximum and focused on answer the specific questions of interest using the tools/concepts from lecture/tutorials. You may include agraph to support your argument/ideas, but this is not required (note: I would recommend you sketch a graph when thinking about how to answer this question, thoughthat does not need to be submitted). Leung and Seo wrote an article “How do government transfer payments affect retail prices and welfare? Evidence from SNAP” (Jan,2023) in the Journal of Public Economics. To answer this question, you do not need togo read the paper. I would in fact recommend against it as the paper is very technicaland assumes a knowledge of statistics that most students taking Econ 201 will nothave (some of the ideas will be discussed in Econ 233 and Econ 333). We will use theinformation/main ideas as a starting framework.In the United States, one of the largest welfare…

What is this equation used for? What do the variables mean? Can you give an example how a research study can be applied to this formula? Does it account for control variables ?

Please do part G.

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