Assignment2 Solutions Chap 2 Forecasting

Brief description of the pie chart for a proposal

Task: Attempt ALL questions (Show all calculations / working formula) Question 1. You are asked to advice on the relationship between two products. The only information you know is that if you increase the price of your product from OMR 1.600 to OMR 2.000, the demand for your competitors' product increases from 1,000 units to 1,400. (a) Name the economic tool you will use to help your advice? (02 marks) (b) What is the relationship between yours and your competitor's product? Show all working. marks) (02 Question 2: Calculate the missing values in the following table. Show all formula and calculations in detail. (Answers not showing the details of calculations & formula will be awarded only fifty percent marks for this question.) (10 marks) Output (Units) TC (OMR)AC (OMR) MC (OMR) 55 1 85 2 110 3 130 14 40 42 16 280 17 90 8 110 19 610 10 150

According to the following given information how to determine: Production Times (months) 1 9 10 11 12 13 14 15 product of 970 1,180 1,239 1,293 1,350 1,398 1,410 1,480 1,492 1,500 1,520 1,592 1,605 1,660 1,685 (Z unit) A) Break Even-point or points? B) How is to construct the relationship between entire variables through the simple drawing for all above figures and highlighting of Break Even point the drawing? C) Justify your final answer for each line of production.

13. (Section 4.4) The weekly revenue, R(x), in thousands of dollars, t weeks after January 1st, for a company is given by R(x) = -0.003x – 0.79x2 + 8.33x + 72.9. (a) Find the 3-month moving average for a = 0. (b) Find the 3-month moving average for a = 2. (c) Find the 3-month moving average for a = 4.

TPP - Tatal Physical Product APP-average Physical Product MPP - marginal Physicdl Product In excel Plat graphically all the given and derived data. or geametrically

Demand Factor Average American household income Roundtrip airfare from Des Moines (DSM) to Atlantic City (ACY) Room rate at the Continental Hotel and Casino, which is near the Rivers PRICE (Dollars per room) Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. 500 450 400 350 300 250 200 150 100 50 0 0 Demand 50 100 150 200 250 300 350 400 450 500 QUANTITY (Hotel rooms) Graph Input Tool Market for Rivers's Hotel Rooms Price (Dollars per room) Quantity Demanded (Hotel rooms per night) Demand Factors Average Income (Thousands of dollars) Initial Value $50,000 per year $200 per roundtrip $250 per night Airfare from DSM to ACY (Dollars per roundtrip) Room Rate at Continental (Dollars per night) 350 150 50 200 250 ?

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2. The following data relate to the sales of a product over an eight-month period:Moth January February MarchApril May June July AugustSales(Q)5672706568756667Price ($)7565596969495959Use ay data analysis tool(software) to answer the following questions: i.Compute (R)^2 for the regression line? Interpret it? (5 MARKS)ii.Compute the F-statistic and state what it implies? (5 MARKS)iii.Interpret the regression coefficient of price (5 MARKS)iv.Forecast sales in September if price is £65. (5 MARKS)v.(BONUS Question) Draw an appropriate graph of the data and relationship. (BONUS 5 MARKS)

OCHESTER 1. (12 points) Supply and Demand for Riesling The Finger Lakes region of New York State is known for its Rieslings. The demand function for bottles of wine from this region (in 100,000s) has two variables average annual income of purchasers. The functional form is: Qd=-2Pd-5+0.0011, where the price of wine and the Qd is quantity sold, Pd is the price of one bottle of wine, and I is equal to average income. Assume average annual income today is $30,000. A) (3 points) Calculate and plot the demand curve. B) (3 points) Calculate and plot the demand curve for I = $35,000 on the same graph as used in part a. == C) (6 points) Now assume a supply curve, Qs = 25P, - 175. Plot the supply curve on the same graph. Compute the equilibrium prices and quantities for the two demand curves.

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Why should the weight reference be 12 consecutive months? (Select all that apply) D a. Account for seasonal availability of products b. Account for seasonal pricing patterns of products c. Account for expenditure on life events-births, deaths, graduations, etc. d. Account for expenditure on holidays and festivals e. Account for expenditure of tourists

1. A Travel-Cost Method Now it is time for your first consulting job as an environmental economist. The Forest Service would like to know whether they should preserve some national forest land, previously slated to be logged, for hiking. You are helping do a travel-cost analysis to estimate the annual benefits of hiking in this area. Survey data has been gathered from 500 hikers who visited the forest last year. This forest did not charge an entrance fee. Using a statistical technique called regression analysis, you have controlled for differences in income, employment status, age, and other important factors that might affect the number of hiking trips taken. Taking these factors into account, you have developed the following relationship: Zone Population in Cost Per Hiking Hiking Trips zone Trip Per Person Taken Per Zonal Person Per Year 1 1,000 2 3,000 3 2,000 20 8 40 6 80 2 where cost includes gas, tolls, fares, hotels, and the value of time spent traveling. a. Graph a linear…

1. A Travel-Cost Method Now it is time for your first consulting job as an environmental economist. The Forest Service would like to know whether they should preserve some national forest land, previously slated to be logged, for hiking. You are helping do a travel-cost analysis to estimate the annual benefits of hiking in this area. Survey data has been gathered from 500 hikers who visited the forest last year. This forest did not charge an entrance fee. Using a statistical technique called regression analysis, you have controlled for differences in income, employment status, age, and other important factors that might affect the number of hiking trips taken. Taking these factors into account, you have developed the following relationship: Zone 1 2 3 Population in zone 1,000 3.000 2,000 Cost Per Hiking Trip Per Person 20 40 80 Hiking Trips Taken Per Zonal Person Per Year 8 6 2 where cost includes gas, tolls, fares, hotels, entry fees, and the value of time spent traveling. a. Graph a…

Which is NOT a quantifiable measurement (business metric)? Easy to calculate Repeatable Controllable Programmable

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Mr. Diddy grows and sells Pineapple. His company is named "Do it Diddy Way!!" Suppose that to produce Pineapple, two inputs are required. 1. Land (size of land) 2. Workers (number of workers) Diddy has 1.5 acres of land inherited from his late Daddy and he uses the inherited land to produce pineapple. His company's production function (per day) table is shown below: Quantity of pineapple number of workers 0 0 5 1 20 2 40 3 70 4 140 5 180 6 195 7 200 8 203 9 Answer the following questions: 1. Is the production considered a short-run or long-run? What is a fixed input? What is a variable input? 2. Draw the total product curve (output on the vertical axis and workers on the horizontal axis) Draw the MPL curve (MPL on the vertical axis and workers on the horizontal axis) 3. 4. What is the quantity of pineapple per day when Diddy hires7 workers? What is the MPL of the 7th worker? 5. After how many workers used does the MPL start to diminish. 6. Suppose that the market price of pineapple is…

The regression equation Netincome = 2,049 +.0478 Revenue was estimated from a sample of 100 leading world companies (variables are in millions of dollars). (0-1) If Revenue = 1, then Netincome = (a-2) Choose the correct statement. (b) Choose the right option. (c) O Increasing the revenue raises the net income. Decreasing the revenue raises the net income. O Increasing the revenue lowers the net income. million. (Round your answer to 2 decimal places.) O The intercept is not meaningful because a firm cannot have net income when revenue is zero. The intercept is meaningful because a firm can have net income when revenue is zero. If Revenue = 24,574, then NetIncome = million. (Round your answer to the nearest whole number.)

Marketing surveys conducted by the sales manager for a company determined that 3,000 power drills could be sold for $60 each, but 4,000 drills could be sold for $50 each. (a) If the two data points were plotted on a coordinate system with the number of drills sold on the horizontal axis and the price of each drill on the vertical axis, what is the slope of the line between the two points?   (b) Write a sentence that explains the result in part (a) in the context of this problem. For every additional drill sold, the price per drill (in cents) decreases by  cent(s). (c) Assuming the trend in part (a) continues, how many drills can be sold for $56?  drills

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Business Maths Question e) Jane is saleswoman employed to sell TV sets on a salary and commission basis. Her fixed monthly salary is 12,500/-. In an addition she receive 5% commission on the first 50,000/- sales and 12.5% on the sales in excess of 50,000/-. During the month of January last year, her total earning amounted to 27,000/-. How many TV sets did she sell if each set costs 7300/-?

Y=X+4X2-0.2X3 (Y=is wheat fields in kgs and X=amount of ferterlizer applied) Derive MPP and APP of the variable factor

PRICE (Dollars per room) 500 450 400 350 300 250 200 150 100 50 0 Demand D 50 100 150 200 250 300 350 400 450 500 QUANTITY (Hotel rooms) Graph Input Tool Market for Oceans's Hotel Rooms Price (Dollars per room) Quantity Demanded (Hotel rooms per night) Demand Factors Average Income (Thousands of dollars) Airfare from MSY to ACY (Dollars per roundtrip) Room Rate at Meadows (Dollars per night) 350 150 50 200 250 ? For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Oceans is charging $350 per room per night. If average household income increases by 20%, from $50,000 to $60,000 per year, the quantity of rooms demanded at the Oceans from rooms per night to rooms per night. Therefore, the income elasticity of demand is. , meaning that hotel rooms at the Oceans are If the price of an airline ticket from MSY to ACY were to increase by 10%, from $200 to $220 roundtrip, while all other demand factors remain at their initial values,…

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Brief description of the pie chart for a proposal

How do I plot thw points on the graph, im a little confused with the graph that is drawn for this question Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.