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Textbooks / Business / Basic Statistics for Business and Economics 7

Basic Statistics for Business and Economics 7th Edition - Solutions by Chapter

Basic Statistics for Business and Economics | 7th Edition | ISBN: 9780077384470 | Authors: Douglas Lind; William Marchal; Samuel Wathen

Full solutions for Basic Statistics for Business and Economics | 7th Edition

ISBN: 9780077384470

Basic Statistics for Business and Economics | 7th Edition | ISBN: 9780077384470 | Authors: Douglas Lind; William Marchal; Samuel Wathen

Basic Statistics for Business and Economics | 7th Edition - Solutions by Chapter

Solutions by Chapter
4 5 0 368 Reviews

Basic Statistics for Business and Economics was written by and is associated to the ISBN: 9780077384470. This textbook survival guide was created for the textbook: Basic Statistics for Business and Economics , edition: 7. The full step-by-step solution to problem in Basic Statistics for Business and Economics were answered by , our top Business solution expert on 08/23/17, 08:36AM. This expansive textbook survival guide covers the following chapters: 6. Since problems from 6 chapters in Basic Statistics for Business and Economics have been answered, more than 102443 students have viewed full step-by-step answer.

Key Business Terms and definitions covered in this textbook
  • agent

    a person who is performing an act for another person, called the principal

  • Arrow’s impossibility theorem

    a mathematical result showing that, under certain assumed conditions, there is no scheme for aggregating individual preferences into a valid set of social preferences

  • capital

    the equipment and structures used to produce goods and services

  • cost–benefit analysis

    a study that compares the costs and benefits to society of providing a public good

  • discouraged workers

    individuals who would like to work but have given up looking for a job

  • game theory

    the study of how people behave in strategic situations

  • liberalism

    the political philosophy according to which the government should choose policies deemed just, as evaluated by an impartial observer behind a “veil of ignorance”

  • life cycle

    the regular pattern of income variation over a person’s life

  • lump-sum tax

    a tax that is the same amount for every person

  • marginal change

    a small incremental adjustment to a plan of action

  • market

    a group of buyers and sellers of a particular good or service

  • mutual fund

    an institution that sells shares to the public and uses the proceeds to buy a portfolio of stocks and bonds

  • poverty rate

    the percentage of the population whose family income falls below an absolute level called the poverty line

  • price discrimination

    the business practice of selling the same good at different prices to different customers

  • profit

    total revenue minus total cost

  • random walk

    the path of a variable whose changes are impossible to predict

  • reserve ratio

    the fraction of deposits that banks hold as reserves

  • signaling

    an action taken by an informed party to reveal private information to an uninformed party

  • tariff

    tax on goods produced abroad and sold domestically

  • welfare

    government programs that supplement the incomes of the needy welfare economics the study of how the allocation of resources affects economic well-being

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