You may need to use the appropriate appendix table or technology to answer this question. Suppose In 2018, RAND Corporation researchers found that 77% of all individuals ages 66 to 65 are adequately prepared financially for retirement, Many financial planners have expressed concern that a smaller percentage of those in this age group who did not complete high school are adequately prepared financially for retirement. (a) Develop appropriate hypotheses such that rejection of N, will support the conclusion that the proportion of those who are adequately prepared financially for retirement is smaller for people in the 66-69 age group who did not complete high school than it is for the population of the 66-69 year old. (Enter In for a as needed.} (b) In a random sample of 300 people from the 65-69 age group who did not complete high school, 159 were not prepared financially for retirement. What is the p- value for your hypothesis test? Find the value of the test statistic. (Round your answer to two decimal places.) Find the p-value. (Round your answer to four decimal places.) p-value = (c] At a = 0.01, what is your conclusion? Do not reject He. We conclude that the percentage of 66- to 69-year-old individuals who are adequately prepared financially for retirement is smaller for those who did not complete high school. Reject Ho. We conclude that the percentage of 66- to 69-year-old individuals who are adequately prepared financially for retirement is smaller for those who did not complete high school. Reject Ho. We cannot conclude that the percentage of 66- to 69-year-old individuals who are adequately prepared financially for retirement is smaller for those who did not complete high school. Do not reject H,. We cannot conclude that the percentage of 66- to 69-vear-old individuals who are adequately pranarad financially far vatican4. (30 points) Consider the following game. There are ten dollars to divide. Two players are each required to simultaneously name an integer between 0 and 10. The player who names the higher number gets to keep the money. If they name the same number, the money is equally shared between them. (a) Describe the set of players /, the set of strategies {S,lien, and the payoff function fuiliEN. (b) Are there strategies that are strictly dominated? Demonstrate your reasoning. What are the resulting strategies after iterated elimination of strictly dominated strategies? (c) Find the best responses (correspondence) for each player. That is, find the strategies that maximize a player's payoff given what the other player does. (d) Find the Nash equilibria of the game. (e) Suppose now the game is changed. Whenever there is a tie, each player receives nothing. Answer the same questions in parts (b) and (c). Find the pure-strategy Nash equilibria of the game.Grad - A dummy variable equal to 1 if the CEO attended a post-graduate program (e.g. MBA), 0 if not Computer - A dummy variable equal to 1 if the firm is in the computer industry, 0 if not Financial - A dummy variable equal to 1 if the firm is in the financial industry, 0 if not Here are the results of a regression of Logsalbon on the covariates: Log Salbon = 3.65+ .31 LogSales+ .0016 Fiveret+ .014 Age-.037Grad-.0037Computer+ .156 Financial ,R = .32 (.25) (.019) (.0012) (.003) (.039) (.064) (.049) Here are some tests of a few joint hypotheses: Ho : B2 = B4 = 0, F-statistic = 1.423 Ho : B2 = 35 = 0, F-statistic = 1.026 Ho : B4 = 35 = 0, F-statistic = 0.473 Ho : B2 = B4 = 35 = 0, F-statistic = 0.959 a. People frequently complain about the high salaries and bonuses earned by CEOs. Some suggest that their compensation is almost totally disconnected from the performance of their firms. Using the company's five year return (Fiveret) as a measure of a firm's performance, do you find evidence that CEO's are rewarded for good performance? What effect do you find? Justify your answer. b. Do CEO's at larger firms earn higher salaries? If so, how much? Justify your answer using Log Sales as your measure of firm size. c. Do the data provide any evidence that CEO's receive a premium (i.e. higher earnings) for having attended a post-graduate program? What effect do you find? Explain. d. Suppose I re-run the regression using Salbon instead of Log Salbon as the dependent variable and find that R" = .34. On the basis of this evidence, should I conclude that it's better to run this new regression instead of the earlier one? Explain.Font Select . Paragraph Styles Editing Graph the following scenario. (Hint: the graph setup in question #8 is a good framework) For a real world example, consider the market for oil. The initial supply and demand curves would be at position 1 (p1). When the suppliers decide to collaborate and supply less oil for every price, this causes a backwards shift in the supply curve, to supply curve 2. This cuts the quantity supplied from quantity 1 (q1) to quantity 2 (q2] and raises the price paid for oil along demand curve 1. We can either shift the demand curve in to curve 2, maintaining previous price levels, but decreasing consumption even more, or we can shift our demand curve out to curve 3, maintaining previous levels of consumption but raising prices. Since there is a tradeoff between having steady prices or steady consumption, the consumers have to make a decision about which is more important to them. In the short run, they will probably decide to pay the higher prices to keep consumption steady (that is, they will shift out to curve 3), but if the prices stay high for a long time, they will start finding ways to economize, (thereby shifting in to curve 2]. 10. What terms are being defined? a. Situation in which the quantity supplied exceeds the quantity demanded for a good or service; price is above equilibrium price. Additional income derived from each additional unit of goods sold. Total Variable Costs divided by quantity sold, TVC/q- Total Fixed Costs divided by quantity sold, TFC/q. To maximize utility by making the most effective use of available resources, whether they be money, goods, or other factors. Costs which do not vary with quantity produced that a firm has to pay in order to produce and sell its goods. Total revenue