A new weather forecast predicts a storm for Saturday. On Saturday, there will be an outdoor soccer match and an indoor basketball game played. If sports fans enjoy all types of sports, what will happen to ticket sales for both games?

• A.Soccer ticket prices will decrease, and basketball ticket prices will not be affected.
• B.Soccer ticket prices will increase, and basketball ticket prices will not be affected.
• C.Quantity of basketball tickets sold will increase by the amount of the decrease in quantity of soccer tickets sold.
• D.Soccer ticket prices will decrease, and basketball ticket prices will increase.

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Company A is a large passenger airline. As part of their annual internal budget process they do a sensitivity analysis of their revenue forecast over their existing routes and schedules. The analysis evaluates the impact of a three percent decline in passenger revenue compared to a three percent increase. Which of the following expenses would show the largest change in the analysis?

• A.Aircraft maintenance expense
• B.Salary expenses for flight crew
• C.Depreciation and amortization expense
• D.Income tax expense

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A company reduces the price of its product, hoping to increase its overall profits. When the quarterly numbers come in, the company sees that the decrease in price has led to a decrease in profits. It decides to change the price back to its original price, but profits still do not recover to their original levels. What happened?

• A.The company experienced economies of scale at the lower price.
• B.The price elasticity of demand was 1 before the first price change.
• C.Demand has become more elastic since the first price change.
• D.Demand has become less elastic since the first price change.

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An organization focused on decreasing HIV in developing countries wishes to investigate the relationship between the prevalence of HIV and various education and economic factors. The organization collects data from 2011 for 98 different countries on the prevalence of HIV, as well as average years of schooling, gross domestic product (GDP) per capita, and health expenditures per capita, which they believe all have an impact on HIV prevalence. Which of the following options correctly runs the regression specified above?
A)

B)

C)

D)

• A.Option D
• B.Option A
• C.Option B
• D.Option C

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The histogram below shows the Industrial Production Index, which measures the output of the manufacturing, mining, and utilities industries for 34 selected countries. After confirming that the data are accurate, economists studying the results are debating how to handle the value for Iceland, 187.4.

The economists are determined to present the most accurate depiction of the data for all 34 countries. Which of the recommendations below is BEST?

• A.The value for Iceland is an outlier and should be eliminated since it will skew the results gathered from the rest of the data.
• B.The value for Iceland is not an outlier but should be changed so that it presents a more accurate picture of the data.
• C.The value for Iceland is an outlier and should be changed so that it presents a more accurate picture of the data.
• D.The value for Iceland is an outlier and should not be eliminated since it is a valid entry and removing it would affect the results.

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