The article “Approximate Methods for Estimating Hysteretic Energy Demand on Plan-Asymmetric Buildings” (M. Rathhore, A. Chowdhury, and S. Ghosh, Journal of Earthquake Engineering, 2011: 99–123) presents a method, based on a modal pushover analysis, of estimating the hysteretic energy demand placed on a structure by an earthquake. A sample of 18 measurements had a mean error of 457.8 kNm with a standard deviation of 317.7 kNm. An engineer claims that the method is unbiased, in other words, that the mean error is 0. Can you conclude that this claim is false?
Lesson 02: Markets: Demand Overview define and explain the concept of declining marginal utility; read a demand schedule and convert it into an individual demand curve; aggregate individual demand curves into a market demand curve; define and calculate price elasticities of demand. Market Structures Capitalism - The consumer decides what is made, how it’s made, and for whom it’s made Central Planning - Government decides what, how, and for whom items are made - Largely unsuccessful in meeting the wants and needs of the consumer - Less successful in allocating money and resources in production The Knowled
