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You are a workers’ compensation claims analyst working for a large manufacturing organization (worker’s compensation is a worker injury protection; it pays medical and other expenses for workers who were injured on the job). A key part of your responsibilities is to “reserve” a certain amount of funds for each workers’ compensation claim you process, which is necessary for making sure that each injury claim has adequate funds to pay its costs. This requires you to forecast, or estimate the expected future cost of each claim, which is both time-consuming and difficult, as there are multiple factors (such as the nature of injury, worker’s age, the nature of accident, etc.) that determine the ultimate cost of individual claims. Having a lot of historical data (past claims), you decide to use regression analysis to help you forecast the expected cost of the individual workers’ compensation claims. Discuss how you would use regression to help you with your task—specifically, explain how you would go about evaluating the goodness-of-fit and the predictive efficacy of your model.
illustrate what is the real GDP in every yr, given which the price index has risen from 100 to 104.5 in the 1st yr also up to 108.3 in the 2nd yr.
Elucidate how an increased federal budget deficit resulting from a recession can actually help stabilize an economy.
If Projects B and G are mutually exclusive, explain how would that affect your overall answers. That is, which projects would you accept in spending the $80,000.
A December 2007 issue of The Economist contained the following quote in an article about Germany: "The government has just chopped the payroll tax that finances unemployment insurance, which should encourage employment." Comment on this statement,..
Suppose both firms have entered industry. What is joint profit-maximizing level of output. How much will each firm produce. How would your answer change if firms have not yet entered industry.
assume equilibrium price in a perfectly competitive market is $100 and within this market, a typical firms total cost curve is summarised. Find expected profit maximizing output.
All costs of exhibiting movies are fixed except for the $3.50 royalty payment you must make to the film distributor for each ticket sold.
Elucidate the relationship among scarcity, choice and opportunity cost in the context of managerial economics.
Find the SPNE of this game. Is there an outcome of the game that both parties prefer to any SPNE? Also find a NE for which the outcome differs from any SPNE outcome.
All Industries can increase the volume of goods or services sold by cutting prices.
If the Boca Raton Company has only one rival also if its rival too makes such a declaration does this change payoff matrix? If so, in illustrate what way.
which cumulative expenditures are increased. Raising taxes also government expenditure by the same amount such which cumulative provide is decreased also cumulative demand is increased.
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