What is the predicted demand of a bobblehead that has price

Assignment Help Microeconomics

Reference no: EM133613797

Problem: Market researchers were interested in the relationship between the price of bobbleheads and the demand of bobbleheads. Information was collected from a survey and used to obtain the regression equation y^ = -0.227x + 50.455, where x represents the price of bobbleheads (measured in dollars) and y^ is the predicted demand of bobbleheads (in units). What is the predicted demand of a bobblehead that has price of $6.00?

Reference no: EM133613797

Questions Cloud

Does this change signify elastic or inelastic demand and why : This change will result in total revenue of $16,069, up from previous total revenue of $14,925. Does this change signify elastic or inelastic demand and why?

Difference in revenue shared annually between the conference : What is the difference in revenue shared annually between the conferences (if any)?

What were unique selling propositions of tazzo : What were the unique selling propositions of Tazzo with respect to its competitors which would enable it to fulfil its prospective goals?

Matthew decided to retire from the for-profit sector : After Ronsangels went bankrupt, Matthew decided to retire from the for-profit sector and work to help the homeless acquire funds to pay rents.

What is the predicted demand of a bobblehead that has price : Information was collected from a survey and use to obtain the regression equation y^ = -0. What is the predicted demand of a bobblehead that has price of $6.00?

Affected by procurement of personal knowledge : How many individuals will be affected by the procurement of personal knowledge? Is the personal knowledge acquired for all individuals similar?

Identifies the manufacturer as the source of particular good : identifies the manufacturer as the source of particular goods and distinguishes products from those made or sold by others

How can one interpret the unyieldingness of interest rates : During the first half of the eighties, market interest rates remained stubbornly high despite. How can one interpret the unyieldingness of interest rates?

Ideal way for companies grow and expand their business : International business continues to be an ideal way for companies grow and expand their business.

User Account

All Pages