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The following data is postulated to have been sampled from an exponential E (4) population. Validate the postulated model appropriately. Repeat the validation exercise as if the population parameter was unknown and hence must be estimated from the sample data. Does knowing the population parameter independently make any difference in this particular case?
6.99
2.84
0.41
3.75
2.16
0.52
0.67
2.72
5.22
16.65
10.36
1.66
3.26
1.78
1.31
5.75
0.12
6.51
4.05
1.52
Dell is selling 30,000 units in Europe at an average price of euro1500 per unit. Both the spot and forward exchange rate are $1.20/euro. The cost of each unit in dollars is $1300 per unit. The elasticity of demand for dell computers in Europe ..
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