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Q. Explain about Regression analysis?
Regression analysis is the statistical technique which identifies the relationship between two or more quantitative variables: a dependent variable whose value is to be predicted and an independent or explanatory variable (or variables), about that knowledge is available. Technique is used to find the equation which represents the relationship between the variables. A simple regression analysis can demonstrate that relation between an independent variable X and a dependent variable Y is linear, using simple linear regression equation Y= a + bX (where a and b are constants). Multiple regression will provide an equation which predicts one variable from two or more independent variables, Y= a + bX1+ cX2+ dX3.
Transitional unemployment Transitional unemployment is that situation which prevails due to some temporary reasons. The main reason for this type of unemployment are:
Describe and answer in economic terms a managerial decision you have knowledge about (for example one that has to be made at your place of employment). Some examples of decisions a
Real Vs Nominal GNP: "Deflating" by a price Index One of the problems that confront economists when measuring GNP is that they have to use money as the measuring rod. Thes
How does economic theory contribute to managerial decisions?
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
The Spendthrift Economy This assumes a circular flow of income in a closed economy with no Government sector and no foreign trade. It also assumes the existence of two sect
Northern Lumber operates a large lumber-processing mill in a small town in Washington State. It is one of the larger lumber producers in the region and has some market power in th
Increase in demand SS is the supply curve and D 1 D 1 the initial demand curve shifts to the right, to position D 2 D 2 . P 1 is the initial equilibrium price and q 1
Measuring Point Elasticity on a Non-linear Demand Curve Let's now explain the method of measuring point elasticity on a non-linear demand curve. Assume we want to measure the
TRADE UNIONS Trade unions are workers' organizations whose objective is to protect the interests of their members. Functions i. To bargain on behalf of their mem
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