A Researcher Working at a Particular Company Wants to Know

question 93

Essay

A researcher working at a particular company wants to know if workers' health would improve if they were given extra days 'off. In this company, all workers undergo a standard physical exam twice a year and after each exam an overall health rating (higher scores mean better health)is automatically provided to the company. To conduct the study, the researcher selected five workers at random. She then arranged to have these five workers receive an additional 2 days off every month over the period between health exams. She then compared the health scores on the two exams. Do the results shown in the table below support the notion that extra days off improves health? (Use the .05 level.)
a. Use the five steps of hypothesis testing
b. Figure the effect size and find the approximate power of this study.
c. Explain your results.
Health Rating, Before and After Period of Extra Days Off
Worker Before After
A 75 81
B 66 67
C 44 46
D 86 88
E 89 89

Understand the relationship between autonomous changes in saving and investment and their impact on aggregate expenditure and GDP.

Recognize the effects of shifts in the aggregate expenditure line on real GDP.

Understand the principles of bond pricing and the factors that influence bond prices.

Identify the types of bonds and their unique characteristics.

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Definitions:

Tax

Mandatory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization.

Tax Cuts

Reductions in the amount of taxes that individuals or corporations are required to pay to the government.

Tax Revenue

The monetary gains that are acquired by governments from taxation.

Arthur Laffer

Arthur Laffer is an economist known for the Laffer Curve, which posits that there is an optimal tax rate that maximizes revenue without discouraging economic activity.