An urban economist wishes to estimate the mean amount of time people spend travelling to work. He obtains a random sample of 60 individuals who are in the labour force and finds that the mean travel time is 30.5 minutes. Assuming that the population standard deviation of travel time is 20.5 minutes, construct and interpret a 90% confidence interval for the mean travel time to work. (Note: the standard deviation is large, because some people work at home and thus travel 0 minutes and some people take transit which results in large travel times).

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Answer 1

Answer:

An urban economist wishes to estimate the mean amount of time people spend traveling to work. He obtains a random sample of 50 individuals who are in the labor force and finds that the mean travel time is 24.2 minutes. Assuming the population standard deviation of travel time is 18.5 minutes, construct and interpret a 95% confidence interval for the mean travel time to work. Note: The standard deviation is large because many people work at home (travel time =0 minutes) and many have commutes in excess of 1 hour. (Source: Based on data obtained from the American Community Survey.)

Explanation:

An urban economist wishes to estimate the mean amount of time people spend traveling to work. He obtains a random sample of 50 individuals who are in the labor force and finds that the mean travel time is 24.2 minutes. Assuming the population standard deviation of travel time is 18.5 minutes, construct and interpret a 95% confidence interval for the mean travel time to work. Note: The standard deviation is large because many people work at home (travel time =0 minutes) and many have commutes in excess of 1 hour. (Source: Based on data obtained from the American Community Survey.)


Related Questions

three reasons for the looting of shops and malls​

Answers

To steal stuff
Take their anger out
To make it up for what other bad people have done

For ownership and power.
Out of unachieved dreams or broken paths.
Taking away what they have in power currently and not thinking maturely

how will the cpi influence the economy?​

Answers

Explanation:

When the CPI is rising it means that consumer prices are also rising, and when it falls it means consumer prices are generally falling. In short, a higher CPI indicates higher inflation, while a falling CPI indicates lower inflation, or even deflation.


How goal succession takes place? Explain the conditions responsible for goal succession.

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Succession takes place when what you've reached the your overall goal/goals.

BREIFLY EXPAIN THE WEEKNESSES OF RSA INDUSTRAIL DEVELOPMENT ZONES

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Answer:

Disadvantages

Revenue losses because of the various tax exemptions and incentives.

Many traders are interested in SEZ, so that they can acquire at cheap rates and create a land bank for themselves.

The number of units applying for settimg up EOU's is not commensurate to the number of applications for setting up SEZ's leading to a belief that this project may not match up to the expextions.

Hope it helps you.

All of the following are true about entrepreneurs except? A. Starting a business is risky and often ends in failure. B. Money is the most important startup ingredient. C. Entrepreneurs are their own bosses and completely independent. D. If an entrepreneur is talented success will happen in a year or two

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Answer:

B. Money is the most important startup ingredient

Explanation:

The most important thing is having a plan. You can get money later on by for example applying for a business loan. A plan can help you at all times

All of the following are true about entrepreneurs except money is the most important startup ingredient. The correct option is b.

Who are the entrepreneurs?

Entrepreneurs are those individuals who create a new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as entrepreneurship. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business or procedures.

Entrepreneurs play a key role in any economy, using the skills and initiative necessary to anticipate needs and bring good new ideas to market. Entrepreneurship that proves to be successful in taking on the risks of creating a startup is rewarded with profits, fame, and continued growth opportunities. Entrepreneurship that fails results in losses and less prevalence in the markets for those involved.

Entrepreneurship is one of the resources economists categorize as integral to production, the other three being land or natural resources, labour, and capital.

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name any two international institutions that standardise a countries indicators ​

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The IMF and the World bank are two international institutions that standardizes a country's indicators.

World bank indicators can be described as a compiled list of several indicators on statistics that shows data pertaining to global development.

The IMF, International Monetray Fund publsihs indicators that shows the lending rate, exchange rate, inflation rate and other time series data of countries.

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Choose the account(s) below, that would have a normal credit balance. Multiple select question. revenues accounts payable expenses common stock unearned revenues dividends

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Answer:unearned revenues

Common stock

Revenues

Accounts payable

Explanation:

The account that contains the normal credit balance is revenue, account payable, common stock, and unearned revenue.

The following information should be considered:

The revenues, liabilities & stockholder equity contains the normal credit balance.Dividend, expenses, and the asset contain the normal debit balance.

Therefore we can conclude that the account that contains the normal credit balance is revenue, account payable, common stock, and unearned revenue.

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a method for screening applicants and identifying the most appropriate candidate is called what?
recruiting
advertising
the selection process
performance appraisal.​

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Answer:

the selection process is the ans

per company policy, tools with a purchase price greater than $1,000 are capitalized what is the correct entry to record a tool purchase of $500

Answers

Policy and processes are put in place to define the code of behavior within an organization and outline the duties of both workers and employers.Worker's liberties, as well as bosses' corporates interests, are safe guarded by company policies.This tool was purchase for less than $1,000, the expenditure was not capitalized and instead was treated as expenses.

So, the correct entry is "Debit Tools Expenses $ 500, Credit Cash $ 500".

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A financial institution and a business establish an arrangement that defines a maximum loan balance the institution allows the business to maintain. What banking service is this an example of?

a. Line of credit
b. Certificate of deposit
c. Letter of credit
d. Revolving credit

Answers

Answer: a.line of credit
The answer is A. Line of credit

ways in which Shoprite could deal with right to dignity in the workplace​

Answers

Answer:

Creating high supervision on workers routine.

Your firm wants to borrow $1 million and repay this loan in 10 equal annual installments. The first installment will be one year from now. The bank charges an interest rate of 10%. What will your annual installment be? (Hint: the present value of your payments using a discount rate of 10% should equal the amount you borrow) Enter the answer with two decimal points

Answers

Answer:

110,000 dollars a year for ten years

Explanation;

100,000 x .10 = 10,000

10,000 + 100,000 = 110,000

110,000 dollars a year for ten years the amount you borrow) Enter the answer with two decimal points.

What is the Amount?

The size or quantity of non-count nouns is indicated by the word "amount." You can count the volume of air in a bottle or the volume of water in a beaker, for instance. The amount can be a noun or a verb, as was said above. Use of the noun: Add a little water to the dish. The dogs require various amounts of food, noun use. It is three bucks and change, to be exact.

EMI = [P x R x (1+R)N]/[(1+R)N-1] is the formula for computing EMIs. P denotes the loan amount or principle, R denotes the monthly interest rate (for example, if the annual interest rate is 11%, the monthly interest rate will be 11/(12 x 100)), and N denotes the number of monthly payments.

100,000 x .10 = 10,000

10,000 + 100,000 = 110,000

Therefore, The sum you borrow) Type the Amount response using two decimal places.

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Ben is a successful salesperson with Victor International Inc.He sells capital goods to large industries.He is expected to give a presentation to a client for a $100 million deal.While waiting in the lobby before the presentation,he may feel _____.
A) episodic acute stress
B) role ambiguity
C) felt stress
D) chronic stress
E) situational stress

Answers

Answer:

D) Situational Stress

Explanation:

It is a short term for of stress that occurs in temporary situations. It is a short term stress when the problem/concern has a solution and then the stress goes away

Rico, told his subordinate, Gracie not to share an e-mail with anyone because of its proprietary information, but another manager, Nicholas, asked her to forward it to him, saying that Rico approved. Without asking for a written request. Gracie forwarded the e-mail to Nicholas. When Rico found out, he said Gracie was guilty of being insubordinate, refusing to believe her story. What was the disadvantage of the oral communication between Gracie and Nicholas?
a. The receiver of oral communication cannot sense the sender's sincerity.
b. Oral communication can lead to spontaneous emotional outbursts.
c. Oral communication provides no scope for direct and immediate feedback.
d. The receiver of oral communication has too much time to think about the message
e. Oral communication allows no scope for a permanent record of the message

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Answer:

e. Oral communication allows no scope for a permanent record of the message

Critically explain the five functions of management (200 words)

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Answer:

Henri Fayol was one of the first theorists to define functions of management in his 1916 book “Administration Industrielle et Generale”. Henri Fayol identified 5 functions of management, which he labelled: planning, organizing, commanding, coordinating and controlling. Henri Fayol theorized that these functions were universal, and that every manager performed these functions in their daily work.Henri Fayol also identified 14 general principles of management and organizing, which can be read about in the article: What are Henri Fayol’s 14 Principles of Management? In part, these 14 principles give normative guidance on how managers might master and execute their 5 managerial functions effectively.

Below, a short description of the five functions is presented.

Planning

Managers must plan for future conditions, develop strategic objectives and secure the achievement of future goals. Therefore, managers must evaluate future contingencies affecting the organization, and shape the future operational and strategic landscape of the company.

Organizing

Managers must organize the workforce in an efficient manner and structure and align the activities of the organization. Managers must also train and recruit the right people for the job, and always secure a sufficiently skilled and educated workforce.

Commanding

Managers must supervise subordinates in their daily work, and inspire them to achieve company goals. Likewise it is the responsibility of managers to communicate company goals and policies to subordinates. The commanding of subordinates should always be consistent with company policies, and every manager should treat subordinates in line with the standards of the company.

Coordinating

Managers must harmonize the procedures and activities performed by the company, meaning that every activity of each organizational unit should complement and enrich the work of another.

Controlling

Managers must control that company activities are in line with general company policies and objectives. It is also the responsibility of the manager to observe and report deviations from plans and objectives, and to make initiatives to correct potential deviations.

The five functions theory of Henri Fayol is a very normative and functional view on management, and the theory might not fully convey the managerial complexities faced by managers in their daily work. As such, Henry Fayol’s five functions focus very little on informal relationships between managers and subordinates, and do not touch very much upon how to develop and maintain a motivated workforce.

The 5 functions put forward by Henri Fayol may therefore not completely represent the total complexity faced by managers, and the normative approach may be too rigid to illustrate which functions managers need to perform in modern contemporary companies and organizations. However, the 5 functions presented by Henri Fayol give a structured overview of several tasks needed to be performed by all managers, which gives managers an initial overview of which main functions they should be focusing on in their daily work.

Other theorist such as Frederick Herzberg and Elton Mayo focused more of their attention to trying to explain how people are motivated, and on which motivational factors can secure a satisfied and motivated workforce.

Explanation: this might help you and please mark me as the brainiest

A/an
is a self-employed person who agrees to work for
someone else for a fee.
A. wage-earning employee
B. salaried employee
C. exempt employee
D. independent contractor
SUBMIT

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Answer:

Option C

Explanation:

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Answer: independent contractor

Explanation: I got it right

A fixed cost: Select one: a. Has already been incurred and cannot be avoided so it is irrelevant for decision making. b. Changes with changes in the volume of activity within the relevant range.. c. Requires the future outlay of cash and is relevant for future decision making. d. Does not change with changes in the volume of activity within the relevant range. e. Is directly traceable to a cost object.

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D. A fixed cost is a cost that stays the same no matter the conditions or changes

what is industrialization​

Answers

Answer: Industrialisation is the period of social and economic change that transforms a human group from an agrarian society into an industrial society. This involves an extensive re-organisation of an economy for the purpose of manufacturing

Explanation:

Answer:

Industrialization is the process through which an agrarian (farm-based) economy transforms into one based on mass manufacturing. Before the 1800s, human society was mostly organized around rural economies with a focus on farming.

This info was answered using Robinhood :)

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Which three things does money help people do in an economy?

(Select three answers.)


Remove value


Exchange commodities


Measure the value of commodities


Store value


Avoid inflation


Increase inflation


Hide the price of a commodity

Answers

Answer:

measures the value of commodities

store value

increase inflation

Explanation:

please mark me as branliest

Answer:

Exchange commodities , Measure the value of commodities , Store value

Explanation:

Where is Nova City Islamabad located? Also is it under progress or has the development been completed?

Answers

Answer:

Nova City is a prime location in Islamabad

Explanation:

It is a few kilometers away from the New Islamabad International Airport.  It is right next to CPEC Ring Road Interchange and is at the center of twin cities.

The project is not yet launched, but the development of the infrastructure has started that will attract the investors towards the project.

Suppose that you are able to buy papaya at the wholesale price of $1/lbs and sell it for $4/lbs. Suppose demand is Poisson-distributed with a mean of 100? Which of the following is true?

a. The optimal stocking level is higher than 100
b. The optimal stocking level is lower than 100
c. The optimal stocking level is equal to 100

Answers

the correct answer is B.

IMPORTANT QUESTION! What is the most important aspect of practicing guitar?

A) Passion
B) Speed
C) Time
D) Intelligence

Answers

Answer:

Option A) passion those it halp

what is 2 + 5
help
pls

Answers

the answer is 9 your welcome
The answer will be 7



Because there are 5 dolls and someone gives u 2 more that will be 7




Hope this helps!

The following transactions were completed by the company.a. The company completed consulting work for a client and immediately collected $5,500 cash earned.b. The company completed commission work for a client and sent a bill for $4,000 to be received within 30 days.c. The company paid an assistant $1,400 cash as wages for the period.d. The company collected $1,000 cash as a partial payment for the amount owed by the client in transaction b.e. The company paid $700 cash for this period's cleaning services.Required:
Write the impact of each transaction on individual items of the accounting equation.

Answers

Answer:

The payment of cash decreases the cash account balance and increase the expenses account.

Explanation:

A) The cash earned will increase the balance of cash in the asset and the revenues of the equity will also be increased.

B) The company completed the commission work and sent a bill to the customer, the bill amount is $4,000.

C) The company paid the wages to the assistant in cash. The balance in the cash account will be reduced and the expenses account balance will be increased by $1,400.

D) The company collects the cash of $1,000 from the customer, which the customer needs to pay for the company. Therefore, the accounts receivable account will be decreased of ($1,000) and the cash account will be increased for $1,000.

E) The company paid $700 as cash for the cleaning services. Therefore, the cash account balance will be decreased and the expenses account will be added to determine the total expenses made by the company for $700.

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Nếu tổng sản lượng quốc gia: 4.000; Thu nhập khả dụng: 3.000; Ngân sách chính phủ thâm hụt 100; Tiêu dùng của các hộ gia đình: 2.500; Cán cân thương mại thặng dư 100 thì chi tiêu của chính phủ cho hàng hóa và dịch vụ phải là bao nhiêu

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Answer:

tôi không biết xin lỗi

Explanation:

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tôi không biết xin lỗi

tôi không biết xin lỗi

An organization that provides goods and services while seeking to operate at a profit is atn)
(Enter one word in the blank)

Answers

The organization where the goods & services should be operated for profit is known as the business.

The following information related to the business is:

It is an organization or the company where the entity should be engaged in commercial activities, industrial activities, etcIt is the efforts & activities of an individual or the company that generated the production and sale of the goods and services for the profit purpose.

Therefore we can conclude that The organization where the goods & services should be operated for profit is known as the business.

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Mihee's old job was to answer phones in a call center. Her job was redesigned, and now she also does customer surveys. This is an example of

Answers

Answer:

Job Enlargement

hope dis helps ^-^

Suppose that the government is concerned that an electric utility company is taking advantage of consumers with unfair pricing policies. The government views electricity as a public good that is likely to be produced inefficiently by the private sector. Which of the following policy options might most effectively enable the government to achieve its objectives in this situation?
a. Regulate the pricing behavior.
b. Turn the company into a public enterprise.
c. Use the law to increase competition.
d. Do nothing at all.

Answers

Answer: Turn the company into a public enterprise.

Explanation: When a natural monopoly, such as an electric utility, is forced to sell itself to a public institution, the private monopoly will become a public enterprise. Such a policy option, which might be chosen by a government that views electricity as a public good, is generally the European approach to providing utilities. A potential drawback of this approach is that government managers may have little incentive to keep costs down.

three reasons for looting expect political,in shoos and mall

Answers

There is NO reason to loot.

People can make thier voices heard without looting local business and larger corporations.

which statement best describes how the International Ethics Standards Board for accountants code effects

Answers

You can find the answer on journalofaccoutancy.com
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