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Exercise 1-20 Static 10 A professor records the majors of her 30 students as follows: 2.5 Accounting Economics Undecided Finance Management points Management Finance Marketing Economica Management Marketing Finance Marketing Accounting Finance Finance Undecided Management Undecided Economica Economics Accounting Management Undecided Economics Accounting Economics Management Accounting Economics PBook Click here for the Excel Data File a. What is the measurement scale of these data? References O Interval O Ordinal O Nominal O Ratio b. Summarize the results in tabular form. Major Number of students Accounting Economics Finance MarketingOPPORTUNITY COST WORKSHEET 2 Below, you are provided Gerardo's Production Possibilities Frontier between biology homework and economics homework before and after he attends economics tutoring sessions. You will use this information to identify how a technological innovation that affects production of only one good alters the opportunity cost associated with producing both goods. PPF1 depicts Gerardo's PPF between biology homework and economics homework before he attends economics tutoring sessions. PPF2 depicts Gerardo's PPF between biology homework and economics homework after he attends economics tutoring sessions. 14 Economic Homework (in pages] 10 12 14 Minlazy Homework [in pages) Part 1: Before Gerardo attends economics tutoring sessions, what is his opportunity cost of producing an additional page of economics homework? Part 2: Before Gerardo attends economics tutoring sessions, what is his opportunity cost of producing an additional page of biology homework? * Part 3: After Gerardo attends economics tutoring sessions, what is his opportunity cost of producing an additional page of economics homework?A simple random sample of 49 Economics majors reported the number of hours that they spend per week studying economics (including lectures, sections, office hours and working on homework). The sample mean was 23 hours/week and the sample standard deviation was 7 hours/week. Assuming that the number of hours/week that economics majors spend studying economics has an approximately normal distribution. .. a. (2 pts) Estimate the proportion of economics majors that spend less than 30 hours per week studying economics. Explain your reasoning, briefly. b. (4 pts) Construct a 95%-confidence interval for the mean number of economics- studying hours/week for all economics majors.How is economics different from sociology? O Economics does not rely on empirical observations. O Economics only focuses on macro level processes. O Economics is not a social science. O Economics concentrates on a single social institution.PL Which of the following statements correctly differentiates between positive and normative A. Positive economics is based on judgments, whereas normative economics is not. OB. Positive economics describes what people ought to do, whereas normative econon O C. Positive economics is descriptive, whereas normative economics is advisory. O D. Positive economics can only be applied to microeconomics, whereas normative eco
