CBAs have been conducted for six proposed projects. None of these projects are mutually exclusive, and the agency has a sufficient budget to fund those that will make society better off. The following findings from the CBAs are summarized in millions of dollars Group I consists of households with annual incomes over $25,000, whereas Group II consists of households with annual incomes under...

Oct 22 2021

A city is about to build a new sanitation plant. It is considering two sites, one located in a moderately well-to-do neighborhood and the other in a low-income neighborhood. Indeed, most of the residents in the latter neighborhood live below the poverty line. The city’s sanitation engineer is adamant that “the city needs the new plant and it has to go somewhere.” However, he is...

Oct 22 2021

(Instructor-provided spreadsheet recommended.) Two alternative mosquito control programs have been proposed to reduce the health risks of West Nile disease in a state over the next five years. The costs and effectiveness of each program in each of the next five years are provided in the following table a. Calculate CE ratios for each program without discounting. b. Calculate CE ratios discounting...

Oct 22 2021

Analysts wish to evaluate alternative surgical procedures for spinal cord injuries. The procedures have various probabilities of yielding the following results. Full recovery (FR)—the patient regains full mobility and suffers no chronic pain. Full functional recovery (FFR)—the patient regains full mobility but suffers chronic pain that will make it uncomfortable to sit for periods of...

Oct 22 2021

A public health department is considering five alternative programs to encourage parents to have their preschool children vaccinated against a communicable disease. The following table shows the cost and number of vaccinations predicted for each program. a. Ignoring issues of scale, which program is most cost-effective? b. Assuming that the public health department wishes to vaccinate at least...

Oct 22 2021

Assume that a typical unskilled rural worker in a developing country would be paid 2 dubyas a week if he migrates to the city and finds a job. However, the unemployment rate for unskilled workers is 40 percent in the city. a. What does the Harris-Todaro model predict the worker’s rural wage is? b. Assume now that the government is considering funding a project in the city that would use...

Oct 22 2021

A certain developing country currently imports all its wheat but is considering funding an irrigation project that would allow domestic farmers to grow and sell wheat. The domestically grown wheat would be sold in competitive markets at an estimated price of 15 dubyas per bushel. The wheat the nation currently imports has a CIF price of US$3 per bushel. The official exchange rate is 4 dubyas per...

Oct 22 2021

A developing country is considering building a steel plant in its largest city. The estimated construction costs of this plant in domestic prices are listed in the following table. a. Compute the weighted APR for the imported materials that would be used in constructing the plant. b. Compute the total construction cost of the plant in accounting prices

Oct 22 2021

(Instructor-provided spreadsheet recommended.) Assuming that the elasticity of the value of a statistical life with respect to income is between 0.4 and 0.9 and that the value of a statistical life in the United States is between $2 million and $7 million, ranges of values of a statistical life for Australia, Portugal, and Brazil are found in the spreadsheet. Data on per capita income were...

Oct 22 2021

Analysts estimate that expanding the capacity of the criminal courts in a city would require about 7,200 additional hours of juror time. The average wage rate in the county is $20/hour. A recent survey by the jury commissioner, however, found that the average wage for those who actually serve on juries under the present system, who are also currently employed, is only $15/hour. The survey also...

Oct 22 2021

- Basics of Statistics
- Sampling Theory
- Descriptive Statistics
- Central Tendency
- ANOVA
- Hypothesis Testing
- Regression
- Time Series Analysis
- Applied Statistics
- Operational Research
- Stochastic processes
- Statistics - Others
- Theory of probability
- Correlation, Regression
- Biostatistics
- Statistical Quality Control
- Quantitative Analysis
- Forecasting
- Stratified Random Sampling