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2. Consider the Normal regression model which is partly linear and partly non- linear:yi D þ1 C þ2 xi 2 CÐ Ð Ð C þk xik C f .xi;kC1; ::: ; xi;kCp / C "i
(a) Using a noninformative prior, derive the marginal posterior p jy/.
(b) Discuss how you might derive a posterior simulator if you wished to carry out Bayesian inference solely on .
(c) Discuss how you might derive a posterior simulator if you wished to carry out Bayesian inference on and þ1;:: : ; þk .
The economy is in a recession. The government enacts a policy to increase spending by $2 billion. The MPS is .2. What would be the full increase in real GDP from the change in government spending assuming the increase
1. the income tax system in a country requires each citizen to pay 10 of income on earnings up to 40000 and then pay 20
In year 1, the quantity produced is Q1 and the price is P1. In year 2, the quantity produced is Q2 and the price is P1. In year 2, the quantity produced is Q1 and the price is P2. In year 3, the quantity produced is Q3
Suppose that the market price for a bottle of vitamins is $2.50 and that at that price the total market quantity demanded is 75,000,000 bottles. Suppose that, instead, the market quantity demanded at a price of $2.50 is only 75,000. How many firms ..
Throughout this problem (except where explicitly indicated), assume that demand for the product is perfectly inelastic at a single unit and that everyone is risk-neutral. Rather than putting equal weights on the profits of the firm and consumer we..
If the actualy price in this market were above the equilibrium price, what would drive the market toward the equilibrium. If the actual price in this market were below the equilibrium price, what would drive the market toward the equilibrium
estimate the effect on profit and return on sale
The inventory turnover for the Lambkin Company was 8 times and its days' sales in receivables were 55. The average payables deferral period (or turnover) was 7.5. What is the cash cycle for Lambkin given a 365-day year
A certain area has 7500 workers who are willing to work at any salary. The area has two places of employment, A and B. At A, the value of the marginal production of the workers is w = 1800-0.1L At B, it is w = 1800-0.2L
We can either look at a tax increasing the costs to the consumer or producer (depending on which party physically pays the tax), or we can look at it as a wedge between the (full) price the consumer pays and the (net) revenue the firm receives.
Find v^n where v is taken from our normal actuarial notation and v>0
Deliverable Length: 1 graph plus calculations You must give up your full-time job, which paid $50,000 per year, and you worked part-time for half of the year. The average retail price of the cookbooks will be $30, and their average cost will be $2..
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