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For the prostate data of Chapter 3, carry out a best-subset linear regression analysis, as in Table 3.3 (third column from left). Compute the AIC, BIC, five- and tenfold cross-validation, and bootstrap .632 estimates of prediction error. Discuss the results.
1. Draw the PERT diagram and determine the expected duration and the critical path.
2. Using simulation, assume the time required to complete a path is normally distributed. Determine the probability of being able to start your first job within 180 days.
3. To provide an allowance for unforeseen problems, you want to present your banker with an operations start time based on a 95% confidence. How many days from receipt of the loan will you tell the banker to expect you to start your first job?
Suppose you are an analyst for the Coca-Cola company. An individual's inverse demand for Coca-Cola is estimated to be P = 98 - 4Q (in cents). If Coca-Cola is produced according to the following cost function TC = 1,000 + 2Q (in cents)
David Christopher is an orthopedic surgeon who specializes in three types of surgery hip, knee, and ankle replacements. the surgery mix is 40 percent hip replacement, 50 percent knee replacement, and 10 percent ankle replacement.
A manager can use either way S or B to prepare packages of chiken nuggetes, The firms production is givin as Q= B+S. A- Graph the isoquant corresponding to 4 unites of output. B- What is the marginal product of capital and labor.
A monopoly faces a market evenly split between high valuation consumers, with demand p= 10- y and low valuation consumers with demand p= 8- 2y. Marginal Cost = 0 arbitrage is impossible and the firm is free to to use.
Carbon Tax/Emission Trading scheme - Compare Australia with one of these countries or group of countries like Europe, USA and China/India and discuss the similarities or differences in ETS and its affect on the economy.
Suppose customers believe that the good they are buying is of high quality with a probability of p, and of low quality with probability 1 - p. A high quality good is valued at vH and costs cH to produce, while a low quality good is valued at vL an..
Find the equilibrium level of real GDP for Smallville. Note: you will have to solve a quadratic equation - and GDP cannot be negative, for obvious reasons. Y = AD (equilibrium condition) T = 1,200 (taxes - non-income)
The government is considering two alternative types of taxes. The first is a tax on interest income, the second is a tax on labour income. Both are to be imposed at rate t (i.e., t=.20, or 20%). Your job is to help the government understand the im..
A compnay is considering buying a new piece of machinery. The inital cost is $80,000; the end-of-useful-life salvage value is $20,000; annual operating costs are $18,000; and the useful life is 20 years. the machine will produce an annual savings.
What is Shelly's marginal rate of substitution when L = 100 and she is on her budget line? (c) What is Shelly's reservation wage? (d) Find Shelly's optimal amount of consumption and leisure.
A firm has the opportunity to invest in a project having an initial outlay of $20,000. Net cash inflows (before depreciation and taxes) are expected to be $5,000 per year for five years. The firm has a marginal income-tax rate of 40%.
d. explain why the production possibility frontier of part c is concave. e. sketch the realtive price of food as a function of its output in part c. f. if consumers insist on trading four units of food for five units of cloth, what is the relative pr..
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