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Describe about regression analysis
An illustration from the automobile industry is befitting for explaining the forecasting method that uses simple regression analysis. Let's presume that a statistician has data on sales of American-made automobiles in the U.S. for the last 25 years. He/she has also determined that sale of automobiles is related to the real disposable income of individuals. The statistician also has available the time series data (for the last 25 years) on real disposable income. Presume that relationship between the time series on sales of American-made automobiles and real disposable income of consumers is essentially linear and it can therefore be represented by a straight line. A rigorous mathematical method is used to locate the straight line which most accurately represents the relationship between time series on auto sales and disposable income.
Firm and industry supply schedules The plan or table of possible quantities that will be offered for sale at different prices by individual firms for a commodity is called su
b) Discuss the validity in Zimbabwe of the grounds on which the profit maximising model of the firm has been defended.
Question: i) The manager of Top Rock Company is introducing a new product that will yield $200 millions in profits if the economy does not go into recession. However, if a rec
Features of this system The mixed economy includes elements of both market and planned economies. The government operates and controls the public sector, which typically cons
Your discussion assignment this week is associated with the Pilgrim Bank case. Using the attached file, answer the following questions: A. Is there a difference in profitability ac
Q. Explain Supernormal Equilibrium? Supernormal Equilibrium: E is the point of stable equilibrium as MC = MR and MC cuts the MR from below. Figure: Supernormal Equ
Q. What do you mean by Theory of Firm? Microeconomics especially the theory of firm, assumed importance and attracted considerable attention in the early 20 th century. This sh
A firm with market power has estimated the following demand function for its product: Q = 12,000 – 4,000 P where P = price per unit and Q = quantity demanded per year. The firm’s t
a bus operates two routes,one to harare and another one to johanesburg.the company analyst estimated that the elasticity of demand for joburg is 0.9 while for harare is 2.the compa
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