A Sample of 50 Students Was Asked How Much Time

question 43

Short Answer

A sample of 50 students was asked how much time they spend on average a week in front of a computer. The sample mean and sample standard deviation were 15.8 and 2.7 hours, respectively. Estimate with 95% confidence interval the mean number of hours students spend in front of a computer a week.

Understand the factors motivating firms across different market structures to engage in research and development (R&D).

Recognize the role of legal protections such as patents, trademarks, and copyrights in incentivizing innovation and protecting intellectual property.

Understand the implications of first-mover advantages in the market and how they can provide a competitive edge to firms.

Identify how market structures influence firms’ ability and incentives to finance R&D.