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1. The data in the table below are the results of a random sample of recent home sales in your neighborhood that your boss has asked you to use to estimate the relationship between the selling price of the house and the number of square feet in it.Observation Number Sale Price (in thousands) Square Feet (in hundreds)1 280 20.32 328 30.03 281 21.54 293 25.45 263 14.56 291 22.37 320 31.08 256 37.29 311 27.110 352 30.211 288 21.212 356 37.213 293 23.014 272 26.715 308 26.5a. First plot the data, with number of square feet on the "X" axis and the price of the house on the "Y" axis. Explain why housing price is the dependent variable and square feet is the independent variable.b. What is the estimated regression line? What does the coefficient of square feet represent?c. Is the sample size large enough for the estimated coefficient of square feet to be statistically significant at the 5% level?d. What is the coefficient of determination (R2)?e. Perform an F-test, again at the 5% level.
Determine if you should go into your own solo private practice or to join a specialty group of physicians.
When the monopolistically competitive firm lowers price from $16 to $12, elucidate how much does total revenue change.
Suppose that only data on in action were published but not on claims for unemployment. What would be a reaction of the USD/EUR in that case.
Suppose that investment decline by 40 units to a level of 60. What will be the new level of equilibrium income.
What considerations come into play when considering whether the United States or any other political entity is spending the right amount for environmental quality improvements
The price level in the economy in 2007 and 2008 rose from 100 to 105. In 2008 and 2009, the price level increase from 105 to 110.25. How does the short-run Phillips curve forecast the unemployment rate will change as a result?
Office building maintenance plans call for the stripping, waxing, and buffing of ceramic floor tiles. This work is contracted out to maintenance firms, and both technology and labor requirements are very basic.
During this time period, a weather phenomenon called the Dust Bowl also occurred. Conduct an Internet search on The Dust Bowl to discover more about it.
In which direction will the scale effect change the firm’s employment of labor? c. Can you say conclusively whether the firm will use more or less labor? More or less capital?
Find the equilibrium values of the real interest rate, consumption, investment, and the price level.
Why would you sell these items through retail stores, or would you try direct marketing.
In general, the marginal cost curve is U-shaped as you learned in lectures and the textbook. However, exception exists. Please provide one particular industry as an example to illustrate that MC is not U-shaped.
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