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Chez Henri is a restaurant chain that operates in 40 different cities. It hired an economist to estimate the factors affecting the demand for its sales. The following equation was estimated using cross sectional data from each of its 40 restaurants. Y Annual restaurant sales (in thousands) X1 Disposable per capital income (in thousands) of the residents living within 5 miles of a restaurant X2 Population (in thousands) within a 5-mile radius of a restaurant X3 Number of competing restaurants within a 5-mile radius The following information was obtained from the regression analysis: Multiple R: 0.92 R-Square: 0.85 Std. Error of Est.: 0.40 Analysis of Variance DF Sum Squares Mean Sqr. F-Stat Regression 3 220 73.3 18.2 Residual 36 60 1.7 Variable Coefficient Std. Error T-Value Constant 0.4 0.2 2.0 X1 0.01 0.004 2.5 X2 0.02 0.015 1.3 X3 -20.2 4.50 -4.6 Answer the following questions: a. Give the estimated demand equation for predicting restaurant sales. b. Provide an interpretation for each of the regression coefficients. c. Which of the coefficients are statistically significant and which are not? Explain. d. What percent of variation are restaurant sales explained by this equation?
Explain whether each of the following government activities is motivated by a concern about equality or a concern about efficiency. In the case of efficiency, discuss the type of market failure involved.
How much gain, if any, must Emma identify on the transfer? Must Laine recognize any gain and evaluate Emma's basis in her partnership interest?
This is the remaining balance of a twelve-month subscription purchased on September 30 in the current year. How much did this subscription originally cost?
For 2010 Stoneland Corporation reported net income $26,000; net sales $400,000; and average shares outstanding 6,000. There were preferred stock dividends of $2,000. What was the 2010 earnings per share?
Purpose a partial income statement beginning with Income before Income Tax Expense
show through some examples that every other way of allocating income provides less utility than does the point identified in partb. Graph this utility maximizing situation.
Prepare an adjusting entry, if necessary, to record the year-end fair values adjusting for the portfolio of short-term investment in available –for-sale securities.
White redeems all of Belinda’s shares. Determine whether the redemption can qualify for sale or exchange treatment under the complete termination redemption rules in each of the following independent circumstances:
Consider the conflict between Adams and Schmidt. Assuming that Schmidt believes the inventory adjustment and vacation pay accrual must be made and that she does not want to lose MPI as a client, what should she do?
The policy has a maturity value of $2,000,000. Matt dies first and the insurance proceeds are paid to Sandra. How much, if any, is included in Matt's gross estate?
What was the top marginal personal income tax rate in 1980? What is the top rate now? Are you in favor of or opposed in the lower marginal rates? Why?
the White Sox head groundskeeper, scouted nationwide for dirt before settling on the mix provided by Partac Peat. First time Roger Bossard purchased Partac Peat, it was most likely an example of which type of buying situation?
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