Part 1: Shortages and surpluses are “price phenomenon,” scar…
Part 1: Shortages and surpluses are “price phenomenon,” scarcity is always a “general phenomenon.” Explain in about five sentences. Part 2: Why does a change in “available quantitates” never change demand or supply. Explain in about five sentences.
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Consider the following sets of sample data: Data set A: 20,347, 20,327, 22,117, 21,762, 20,864, 20,102, 21,684, 20,063, 21,728, 21,580, 21,720, 20,920, 21,442, 20,766 Data set B: 3.38, 4.64, 4.09, 3.93, 4.25, 4.63, 4.78, 4.25, 4.46, 2.93, 3.64 For each of the above sets of sample data, calculate the coefficient of variation, CV. Round to one decimal place. a. Calculate the CV for Data Set A: (4 pts)b. Calculate the CV for Data Set B: (4 pts)c. Which of the above sets of sample data has the larger spread? Why? (2 pts)
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