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Describe about regression analysis
An illustration from the automobile industry is befitting for explaining the forecasting method that uses simple regression analysis. Let's presume that a statistician has data on sales of American-made automobiles in the U.S. for the last 25 years. He/she has also determined that sale of automobiles is related to the real disposable income of individuals. The statistician also has available the time series data (for the last 25 years) on real disposable income. Presume that relationship between the time series on sales of American-made automobiles and real disposable income of consumers is essentially linear and it can therefore be represented by a straight line. A rigorous mathematical method is used to locate the straight line which most accurately represents the relationship between time series on auto sales and disposable income.
What market type does the company you work for operate under? What makes you think this? Do you think that this is the right market type for your company to operate in? Explain you
DIFFERENTIALS AND DISEQUILIBRIUM In a free enterprise system, workers aim at maximizing their wages. Hence, it would be expected that workers would move form low-paying indus
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Characteristics of Money Over time, therefore, it became clear that for an item to act as money it must possess the following characteristics. Acceptability If
What is Normative economics It is concerned with varied corrective measures which a management undertakes under different circumstances. It deals with goaldevelopment, goal det
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Consider a model world which is subject to a risk of global climate change. The damage is known to be from greenhouse gas (GHG) emissions as indicated by the marginal damage curve
Advantages a. They are less costly to administer because the producers and sellers themselves deposit them with the government. b. If levied on goods with inelastic deman
#question.Constraints of Marris’ Growth Maximisation Model
What is optimal output rule? Optimal output rule: According to the optimal output rule, describe that profit is maximized through producing the quantity of output at that th
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