Assume That $\sigma _ { 1 } ^ { 2 } = \sigma _ { 2 } ^ { 2 } = \sigma ^ { 2 }$

question 39

Essay

Assume that $\sigma _ { 1 } ^ { 2 } = \sigma _ { 2 } ^ { 2 } = \sigma ^ { 2 }$ . Calculate the pooled estimator of $\sigma ^ { 2 }$ for $s _ { 1 } ^ { 2 } = .88$ , $s _ { 2 } ^ { 2 } = 1.01 , n _ { 1 } = 10$ , and $n _ { 2 } = 12$ .

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Definitions:

Price Elasticity

The degree to which demand for an item is affected by changes in its cost.

Quantity Demanded

The total amount of a product that consumers are willing and able to purchase at a given price.

Linear Demand Curve

A graphical representation showing a straight-line relationship between the price of a good and the quantity demanded, indicating a constant change in demand in response to price changes.

Elasticity

A gauge of the reaction in the amount of a product desired when its price varies.