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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.
Shifts in demand curve Shifts in the demand curve are brought about by the changes in factors like taste, prices of other related commodities, income etc other than the price
a) The production-possibilities curve is? b) If there is a shortage in the provider of a product, we can conclude that its price: c) An enhance in supply and a
pricing under oligopoly
1. According to an article in San Luis Obispo Tribune July 21, 2006 37% of the college freshman and 48% of the college seniors carry a credit balance from month to month. Suppose
No new substitutes for the commodity If some new substitutes for a commodity appear in the market, its demand normally declines. This is quite natural, since with the availabil
Enumerate the Scope of managerial economics The scope of managerial economics contains following subjects: 1. The Theory of demand 2. The Theory of production 3. The
Household This refers to all the people who live under one roof and who make or are subject to others making for them, joint financial decisions. The household decisions are a
SHORT-RUN EQUILIBRIUM All firms are assumed to aim at maximizing profits or minimizing losses. The monopolist controls his output or price, but not both. The monopoly maxi
Relevance of The Law of Diminishing Returns The law of diminishing returns is important in that it is seen to operate in practical situations where its conditions are fulfille
KEYNESIAN VIEW ON UNEMPLOYMENT Keynes in his General Theory presented a view that fluctuations in aggregate demand (AD) influences the equilibrium level of output. Thus
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