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McGivern Jewelers is located in the Levis Square Mall just

ISBN: 9780077384470 64

Solution for problem 27E Chapter 4

Basic Statistics for Business and Economics | 7th Edition

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Problem 27E

McGivern Jewelers is located in the Levis Square Mall just south of Toledo, Ohio. Recently it ran an advertisement in the local newspaper reporting the shape, size, price, and cut grade for 33 of its diamonds currently in stock. The information is reported below.

 Shape Size (carats) Price Cut Grade Princess 5.03 \$44,312 Ideal cut Round 2.35 20,413 Premium cut Round 2.03 13,080 Ideal cut Round 1.56 13,925 Ideal cut Round 1.21 7,382 Ultra ideal cut Round 1.21 5,154 Average cut Round 1.19 5,339 Premium cut Emerald 1.16 5,161 Ideal cut Round 1.08 8,775 Ultra ideal cut Round 1.02 4,282 Premium cut Round 1.02 6,943 Ideal cut Marquise 1.01 7,038 Good cut Princess 1.00 4,868 Premium cut Round 0.91 5,106 Premium cut Round 0.90 3,921 Good cut Round 0.90 3,733 Premium cut Round 0.84 2,621 Premium cut Round 0.77 \$ 2,828 Ultra ideal cut Oval 0.76 3,808 Premium cut Princess 0.71 2,327 Premium cut Marquise 0.71 2,732 Good cut
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e. Cost-BenefitAnalysisofMaximumPriceControlLaws a. b. MaximumPriceControlLaws: i. Benefitsomeconsumersandharmothers ii. Harmallproducers iii. Doesmoreharmthangood 1) DWLismorethanifthereisnolawinplace f. Cost-BenefitAnalysisofMinimumPriceControlLaws...

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