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Two-Sample Tests
Population Means, Related Samples: Same group before vs. after treatment
- Class notes
- • 1 pages •
Population Means, Related Samples: Same group before vs. after treatment
initial increase in government spending.
The marginal propensity to consume (MPC) is the fraction of each additional (marginal) dollar of disposable income spent on consumption The fiscal stimulus to aggregate demand includes: The initial increase in government spending. All subsequent increases in consumer spending are triggered by government outlays. Income gets spent and re-spent in the circular flow.
- Class notes
- • 2 pages •
The marginal propensity to consume (MPC) is the fraction of each additional (marginal) dollar of disposable income spent on consumption The fiscal stimulus to aggregate demand includes: The initial increase in government spending. All subsequent increases in consumer spending are triggered by government outlays. Income gets spent and re-spent in the circular flow.
Exam 3
A manufacturer says their football helmets have no more than 10% defects. A researcher claims that more than 10% (0.10) of all football helmets have manufacturing flaws that could potentially cause injury to the wearer.
- Exam (elaborations)
- • 3 pages •
A manufacturer says their football helmets have no more than 10% defects. A researcher claims that more than 10% (0.10) of all football helmets have manufacturing flaws that could potentially cause injury to the wearer.
Money plays an essential role
Each new loan made creates new deposits and new excess reserves. Cumulative effect on money supply is determined by the money multiplier. The money multiplier is the value of deposits created from $1 of excess reserves.
- Class notes
- • 2 pages •
Each new loan made creates new deposits and new excess reserves. Cumulative effect on money supply is determined by the money multiplier. The money multiplier is the value of deposits created from $1 of excess reserves.
Board of Governors
The use of money and credit regulations to increase or decrease the money supply in order to influence macroeconomic activity, i.e. AD The money supply is controlled by the Federal Reserve System, the central bank of the US. Referred to as the Fed. . System of 12 regional Fed banks and central controls, headed by a chairman The Board of Governors conducts monetary policy. Seven members appointed by the President and confirmed by the U.S. Senate.
- Class notes
- • 2 pages •
The use of money and credit regulations to increase or decrease the money supply in order to influence macroeconomic activity, i.e. AD The money supply is controlled by the Federal Reserve System, the central bank of the US. Referred to as the Fed. . System of 12 regional Fed banks and central controls, headed by a chairman The Board of Governors conducts monetary policy. Seven members appointed by the President and confirmed by the U.S. Senate.
Imports are goods
Specialization increases total output We can have more “stuff” if we specialize our production and then trade We are incapable of producing all that we desire. We have limited amounts of time, energy, and resources.
- Class notes
- • 2 pages •
Specialization increases total output We can have more “stuff” if we specialize our production and then trade We are incapable of producing all that we desire. We have limited amounts of time, energy, and resources.
Type 1 & Type 2 Error
Figure out if the question is quantitative or Categorical, Telling whether it's a mean or proportion. If it is greater than, less than, or not equal. Finding the critical value, etc.
- Exam (elaborations)
- • 3 pages •
Figure out if the question is quantitative or Categorical, Telling whether it's a mean or proportion. If it is greater than, less than, or not equal. Finding the critical value, etc.
Z-Table
Questions about intersection, binomial, and standard deviation. Ways to calculate z-table.
- Exam (elaborations)
- • 3 pages •
Questions about intersection, binomial, and standard deviation. Ways to calculate z-table.
Survey Practice
Gives different questions about the different types of surveys there can be, for example, A student took a survey of 400 students. You have to tell what kind of survey it is. Simple random, convenience sample, beef, etc. And also talks about the different plots.
- Exam (elaborations)
- • 4 pages •
Gives different questions about the different types of surveys there can be, for example, A student took a survey of 400 students. You have to tell what kind of survey it is. Simple random, convenience sample, beef, etc. And also talks about the different plots.