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Write out the formulas for the bias, variance and mean squared error of β1. How do the bias, variance and mean squared error depend on the values of µ, σ2 and n?
Evaluate the forecast error measures and residuals to determine if the error is acceptable or has systematic variation. Write conclusion relative to the acceptability of the forecast.
An accountant for a car rental company was recently asked to report the firm's cost of producing various levels of output. What is the average fixed cost of producing 2 units of output? What is the average variable cost of producing 2 units of output..
Select 6-10 indicators that are of particular relevance to your firm and explain why. Next, outline a strategy for how the firm should respond to the information provided by the economic indicators with the goal of maximizing revenues in the years..
The bank is constructing a new Internet banking strategy to entice new consumers to sign up. Your manager has asked you to contribute to this strategy through describing how money works.
Explain how economics is used as a social science and as a policy tool and write a two-page essay in which you address the issues.
Think a competitive industry consisting of one hundred identical firms each with the following cost schedule,
Consider a firm which employs capital and labor as inputs and sells 5,000 units of output per year at the going market price of $10. As well suppose that total labor costs to the firm are $45,000 annually.
Calculate the equilibrium price and quantity. Sketch the supply and demand curves on a graph indicating the equilibrium.
Find out the equilibrium price and quantity and illustrate with a graph. The government imposes a tax of $5.00. Find the new equilibrium price and quantity. Determine the total tax revenue earned by the government
State the commodity in which each country has absolute advantage and identify the commodity of comparative advantage for each country
Demand and supply situations in perfectly competitive market for unskilled labor are as follows, Estimate the industry equilibrium price or output combination both graphically and algebraically.
Use a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labor an increase in immigration
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