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Estimate the regression in Estimate by hand calculation the regression equation of the firm's sales revenue (Y) on its quality control expenditure (call it Z) for the data given: Year (t) 1 2 3 4 5 6 7 8 9 10 Advertising (X1) 10 9 11 12 11 12 13 13 14 15 Quality control (X2) 3 4 3 3 4 5 6 7 7 8 Sales revenue (Y) 44 40 42 46 48 52 54 58 56 60 Z 2 3 4 5 6 7 8 9 Y Forecast using Excel's regression function in the Data Analysis menu. (b) Using the coefficients found in the regression estimate, enter a formula (based in cells C6 through J6 to forecast the sales revenue when quality control goes from $2 million to $9 million a year. (c) Graph both the actual data and forecast using the graphing tool. Does the forecast vary much from the actual data?
Using the coeffficients found in the regression estimate, enter a formula based in cells C6 through J6 to forecast the sales revenue when quality control goes from $2million to $9million a year.
Illustrate with a diagram and explain the long-run perfectly competitive equilibrium for the firm and explain and illustrate using a diagram why a monopolist would never produce in the inelastic range of the demand curve.
those polices were predicated on 1930s Keynesian assumptions that economic recoveries always run out of steam and at certain points need artificial stimulation of demand and fine-tuning to keep them running at acceptable levels .The evidince of th..
Assume that a hypothetical economy with an MPC of 0.75 is experiencing a severe recession. 1. By how much would government spending have to rise to shift the aggregate demand curve rightward by $50 billion 2. How large a tax cut would be needed to ac..
Pass laws prohibiting children from working in labor market X. Require a license to work in labor market X. Increase tariffs on imports that compete with labor market X employers.
Consider a firm selling two products, A and B, that substitute for each other. Suppose that an entrant introduces a product that is identical to product A. What factors do you think will affect (a) whether a price is initiated, and (b) who wins t..
Jim enters the town and makes a factory, which is employed by the locals. Every worker in the factory works on one machine and is able to produce 6 shirts per hour. The cost of running the machine is half a loaf of bread per hour, the cost to empl..
One way to view the law of diminishing marginal productivity is to say that, The concept of derived demand can best be illustrated by the statement:
The pharmaceutical industry often has the luxury of implementing pricing strategies that appear high to consumers. Take a position on the fairness of the industry's approach to pricing pharmaceutical products including offering an alternative stra..
A monopolist is maximizing profit at an output rate of 1,000 units per month. At this output rate, the price that its customers are willing and able to pay is $8 per unit, average total cost is $5 per unit, and marginal cost is $6 per unit. It may..
Explain what could happen in the future with each of these trends below and come up with three(3) more trends not listed and do the same analysis for your three additions.
Currently, it is difficult to sue the federal goverment unless it agrees to be sued. If the law were changed so that lawsuits (such as by victims of the collapse of the I-35W bridge) were easier, how would this change the incentives of the goverme..
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