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a. Plot the data with impressions on the vertical axis and advertising expenditure on the horizontal axis. What kind of relationship do you observe?
b. Would it be appropriate to fit a bivariate linear regression model to the data? Why or why not? If not, what type of regression model will you fit the data to? Do we have the necessary tools to fit such a model?
c. Suppose you do not plot the data and simply fit the bivariate regression model to the data. Obtain the usual regression output. Save the results for a later look at this problem.
Suppose that due to whatever reason, reserve demand changes and you forecast the reserve demand to now be Rd = 270 - 30 iff. In order to keep the federal funds rate at target, what must the open market desk do? Be specific and show this developmen..
How much would your final decision hinge on what you anticipated for the future, compared with what you knew to be the situation today?
Use this approach to discuss the convexity of the indifference curves for the following three functions.
A local video store estimates their average customer's demand per year is Q = 20 - 4P, and knows the marginal cost of each rental is $1.00. How much should the store charge for an annual membership in order to extract consumer surplus
The price elasticity of demand for imported whiskey is estimated to be -0.20 over a wide interval of prices. The federal goverment decides to raise the import tariff on foreing whiskey, causing its price to raise by 20%.
In the diagram for this exercise, plot the consumption function line for the data in the table below. Calculate savings at each level of real disposable income and plot the savings function.
A company experiences rising returns to scale; that is, doubling all its inputs more than doubles its output. What can be inferred about the company's short-run costs?
In Bayonne, NJ there is a large beauty salon and a number of smaller ones.The total demand function for hair styling per day is Q=180 - 10P, where P is in dollars The marginal cost function of all the small salons together is SMCf = 4+ 0.1Q
Suppose that Roy could choose how many hours to work at a wage of W and choose to work 7 hours a day. The employer now offers him time-and-a-half wages(1.5W) for every hour he works beyond a minimum of 8 hours per day. Show how his budget constrai..
one in Toronto, Ontario, and the other in Halifax, Nova Scotia. Assume that both jobs were equally interesting to Sam and that he was indifferent between relocating to Toronto or staying in Halifax. Both positions offered a salary of $52,000.
There are 168 hours in a week. Of these, about 60 hours will go to sleeping (more or less). That leaves 108 hours for which we have a choice in terms of how we will spend that time. Let's assume that we will spend the 108 hours in either work or l..
Given the various modes of international market entry, which mode would be most appropriate for this company? Elaborate.
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