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Just The Fax, Inc. (JTF) has hired you as a consultant to analyze the demand for its line of telecommunications devices in 35 different market areas. The available data set includes observations on the number of thousands of units sold by JTF per month (QX), the price per unit charged by JTF (PX), the average unit price of competing brands (PZ), monthly advertising expenditures by JTF (A), and average gross sales (in $1,000) of businesses in the market area (I). The results of a regression analysis (with standard errors in parenthesis) are given below. QX = 300 - 6 PX + 2 PZ + 0.04 A + 0.01 I (200) (1.8) (0.8) (0.03) (0.004) R2 = 0.91 S.E.E. = 3.6 (i) Evaluate the statistical significance of the equation as a whole and of each of its coefficients. (ii) The average values of the independent variables in the data set used to estimate the equation are PX = $195, PZ = $225, A = $11,000, and I = $200,000. Calculate a point estimate of JTF's average sales and a 95% interval estimate of sales based on these values.
The income tax system in a country requires each citizen to pay 10% of income on earnings up to $40,000, and then pay 20% on any earnings over $40,000. If an individual has an income of $92350, then what is his average tax rate, in percentage term..
A product comes with a 3-year warranty. Repair costs are expected to average $3500 per year, beginning in year 4. The interest rate is 10%. Determine the present worth of the crane's repair costs over its 15-year life.
The hypothetical figures in the table below give five alternate combinations of steel and autos that Japan and South Korea can produce it they fully use all factos of production at their disposal with the best technology available to them. After s..
Given the following information, model the following monopoly for a strain of corn which has been patented in a totally, not-at-all-evil way by multinational agri-corp Notmonsanto. (HINT: Set up a table with Quantity in increments of 0.5)
Assume the demand function for basketballs is given by QD = 150 - 3P + 0.1I, where P = price of a basketball and I = average income of consumers. Also, assume the supply of basketballs is given by QS =2P. If the market for basketballs is perfectly..
State what is its distribution under the null and why and explain the conditions under which you would reject H0
The operations manager of Black Cat Blades Ltd. of Edmonton, Alberta, is examining the cost of maintaining the company's manufacturing facility. Maintenance occurs every month. The cost of maintenance starts at $2250 and it will grow by $20 each t..
Assume that a national restaurant firm called BBQ builds 20 new restaurants at a cost of $1 million per restaurant. It outfits each restaurant with an additional $300,000 of equipment and furnishings. To help partially defray the cost of this expa..
Consider the Joint Density: 2(x+y) if 0 2. Calculate Fx (0.5) 3. Calculate Fy (0.5)
Given the production function Y=AK^0.3L^0.7 if output grows by five percent, the capital input grows by five percent, and the labor input grows by two percent, calculate the Solow residual. Calculate the growth rates of output per worker and capit..
The purchasing manager for a firm is trying to determine what the safety stock should be for a particular product. She has developed the following table, which gives the distribution of demand during the lead-time and the probabilities.The carryin..
A five-year-old defender has a current market value of $4,000 and expected O&M cost of $3,000 this year, increasing by $1,500 per year. Future market values are expected to decline by $1,000 per year.
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