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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.
Harrod Domar Theory A basic principle that has been stressed by both Harrod and Domar in their growth models and which has been incorporated in all modern growth theories is th
Disguised unemployment Situation where some people are employed apparently, but if they are withdrawn form this job, total production remains the same. In most developing coun
USES OF NATIONAL INCOME FIGURES We need national income statistics to measure the size of the "National cake' of goods and services available for competing uses o
The Circular Flow of Income and Expenditure This is an economic model illustrating the flow of payments and receipts between domestic firms and domestic households. The househo
Q. What is the economic role of government? What are the roles? Meaning: economic role is the role played by the government in uplifting the economy. The important roles: 1.
definition of optimal use of veriable input
what kind of market structure is involved for the sale of medicines and vitamins? explain
Managerial economics according to Mote and Paul "Managerial economics refers to those aspects of economics and its tools of analysis most relevant to the firm's decision-making
Direct intervention The government can also intervene directly in the economy to see that its wishes are carried out. This can be achieved thorough: a. Price and i
In the national income analysis, investment refers to the value of than part of the aggregate output for any given time period which takes the form of construction of new structure
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