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Microeconomics/Statistics Forum Post

Microeconomics Post # 1

 

Read the article, “The Ethics Of Big Data”. Based on the content presented in the article, describe the microeconomic principles being used, in other words what is the impact for demand? List the different types of market structures that big data benefits the least and benefits the most. While data collection may benefit the business community, discuss the potential concerns for consumers that arise with the proliferation of big data. Discuss the way profits vary based on market structure

http://www.forbes.com/sites/emc/2014/03/27/the-ethics-of-big-data/#196cf6a130c7

 

Microeconomics Post # 2

Analyze the major barriers for entry and exit into the airline industry. Explain how each barrier can foster either monopoly or oligopoly. What barriers, if any, do you feel give rise to monopoly that will allow the government to become involved to protect consumers?

 

Statistics Post #1

 

What is a hypothesis test?  Why do we need to use them to make decisions about relating sample results to the population; why can’t we just make our decisions by the sample value?

Statistics Post #2

 

Variation exists in virtually all parts of our lives. We often see variation in results in what we spend (utility costs each month, food costs, business supplies, etc.).  Consider the measures and data you use (in either your personal or job activities). When are differences (between one time period and another, between different production lines, etc.) between average or actual results important?  How can you or your department decide whether or not the observed differences over time are important?  How could using a mean difference test help?

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Category: Sample Questions