Q5 A decline in the price of good A causes the demand curve for good B to shift to the left. We can conclude goods A and B are

a. inferior goods

b. substitutes

c. normal goods

d. complements

2) you observe the price of a good rises and the quantity sold decreases. This is the result of

a. a decrease in supply

b. an increase in supply

c. a decrease in demand

d. an increase in demand

3) suppose people buy more of good 1 when the price of good 2 falls. These goods are

a. normal

b. inferior

c. substitutes

d. complements

The following sample was taken from a normal distribution with mean / and variance 20: 56, 32, 49, 57, 44 (i) Calculate a symmetrical 95% confidence interval for u . [2 (ii) Repeat part (i) for the situation where the population variance is unknown. [2 [Total 4 Two children play an 'incy-wincy' spider game. They take it in turns to roll two dice each and move their spiders up their drainpipes as follows: Score Movement 2, 3 or 4 Down 1 5, 6 or 7 Stay same 8, 9 or 10 Up 1 11 or 12 Up 2 (i) Using a normal approximation, calculate the probability that after 15 turns a child's spider will have moved up more than 8 squares from the start. [5 (ii) Comment briefly on the suitability of this approximation. [1 [Total 6 A sample of 50 independent and identically distributed observations from an Exp(2) distribution gave: Range Ox