1.Suppose I have collected data, including gender on a group of people. I dummy coded the data for gender such that 1 = male; 2 = female. Can I have the computer calculate a mean on gender?
2.Suppose that I have calculated a mean for gender that is 1.74. What advice would you give me in interpreting this number?
3.What would be a better choice for presenting information about gender?
4.When do we use dummy coding?
5.Why do we want to provide descriptive statistics in our write-ups?
6.What does the standard deviation tell us?
7.When we conduct a one-sample t test, what are the two things being compared?
8.What is our alpha level in this course?
9.Use the chart below to answer the following questions. If you wanted to find all the information we have about participant 3, where would you look?
10. Use the chart below to answer the following questions. If you wanted to find all the information we have about the number of words recalled, where would you look?
11. If you were adding information about another participant, where would you put that information?
Participant Gender Age Major Words Recalled
1 1 20 1 15
2 2 21 2 18
3 1 36 3 16
4 2 34 1 17
Homework Chapter 1 Name MATCHING What a society can produce. More production to satisfy wants and Match the key terms with the descriptions. needs. The process of thinking things Things people buy. through before making a decision. What can be fulfilled by acquiring KEY TERMS goods and services. 1. Capital (capital goods) People working. 2. Command dictatorship economy Tools and equipment used for production. 3. Cost-benefit analysis Funds to acquire capital goods. 4. Economic growth Risk taking. 5. Efficiency Goal of a business. 6. Entrepreneurship The transformation process. 7. Financial capital Maximum output at lowest cost. 8. Goods and services Application of knowledge. 9. Labor Limited resources unlimited wants and 10. Marginal benefit (MB) needs. 11. Marginal cost (MC) Evaluation of whether or not to take 12. Market capitalist economy the next step. 13. Opportunity cost Cost of taking the next step. 14. Private property Benefit of taking the next step. 15. Production Alternative foregone when you make 16. Production possibilities a decision. 17. Making profit Consumer decides what gets produced. 18. Rational action blucarsfrail a Decisions are made by the ruling elite. 19. Scarcity on to sabusedshow of prlingual Individual ownership of farms, facto- 20. Technology ries and homes. 21. The "Invisible Hand" Description of how self-interested 22. Wants and needs. activity benefits society by Adam Smith. her word or golog mom alyIn economics, interest can be defined as money paid by a borrower to a lender for a credit or a similar liability. Whereas, interest rate is defined by the interest paid over a time period expressed as a percentage of principal. Based on these fundamental understandings, answer all following questions; i. What is the different (by definition) between simple and compound interest? (1 marks) ii. Calculate the amount deposited 1 year ago to have RM30000 now at the interest rate (ROR) of 15% per year. Calculate the amount of interest earned during this time period (4 marks)QUESTION 12 Ordering decision making process for managers - T Follow up Identify problem Analyze the allomativos Implement the decision Determine alternative courses of action Select the best alternative QUESTION 13 What is correct explanation about first step for analzing the alternatives in decision making process? 8. Select an appropriate, measurable criterion O b. Carry out the chosen analysis * Select a method of analysis " Determine alternative courses of actionDemand for a new product will decline as competitors enter the market. If interest is 10%, what is an equivalent uniform value? Year Revenue 1 $24,000 2 18,000 3 12,000 4 l5,000 24,000 13,000 12,000 A' A' A' A\" 6000 01234 = 01234 A. $15,714 per year B. $15314 per halfyear C. $15,614 per year D. $15,614 per half year E. No correct
