Anders Hardware Forecasting Exam Practice - Solutions

The table below shows the demand for a particular brand of fax machine in a department store in each of the last twelve months. 12 Month Demand 12 15 19 5 6 7 23 27 30 32 33 37 3 4 8 9 10 11 12 41 49 58 a) Calculate the four month. What would be your forecast for the demand in month 13?

Attempts 9. Exercise 3.9 The Sydney Transportation Company operates an urban bus system in New South Wales, Australia. Economic analysis performed by the firm indicates that two major factors influence the demand for its services: fare levels and downtown parking rates. Table 1 presents information available from 2005 operations. Forecasts of future fares and hourly parking rates are presented in Table 2. Table 1 Average Daily Transit Riders Average Downtown Round-Trip Fare Parking Rate Year 2006 2007 Average / 1 (2005) 5,000 (Dollars) 1.00 1.25 (Dollars) 1.00 Table 2 Round-Trip Fare Average Parking Rates (Dollars) 2.50 2.50 (Dollars) 1.50 Sydney's economists supplied the following information so that the firm can estimate ridership. Based on past experience, the coefficient of cross elasticity between bus ridership and downtown parking rates is estimated at 0.2, given a fare of $1.00 per round trip. This is not expected to change for a fare increase to $1.25. The price elasticity of…

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The following table shows worldwide sales of a certain type of cell phone and their average selling prices in 2012 and 2013. Year 2012 2013 Selling Price ($) Sales (millions) 928 1,144 375 335 (a) Use the data to obtain a linear demand function for this type of cell phone. (Let p be the price, and let q be the demand). q(p): -5.4p + 3185 X Use your demand equation to predict sales if the price is lowered to $255. 1808 x million phones (b) Fill in the blank. For every $1 increase in price, sales of this type of cell phone decrease by 5.4 million units.

A survey by Namibian statistics agency indicated that kapana is Namibian favourite. For each of the following, graphically indicate the possible effects on demand, supply or both as well as equilibrium quantity of kapana.   (a) a severe drought in Namibia causes farmers to reduce the number of cattle in their herds by a third-quarter of their stock . These farmers supply need that is used for kapana meat .   (b) a new report by the veterinary council of Namibia reveals that kapana does in fact have significant health benefits   (C) the discovery of cheaper animal feed by Neudamm Bush-to-feed that lower the price of cattle   (d) New technology that lower cattles cost of producing

e Price -Q₁ Quantity Which of the following scenarios is BEST represented in the graph? A number of sellers increase B decrease in government taxes C resource costs increase D technology improves

The problem is based on the following data given. Observations of the demand for a certain part stocked at a parts supply depot during the calendar year 2013 were ( as shown ). Determine the one-step-ahead forecasts for the demand for January 2014 using 3‑, 6-, and 12-month moving averages.

During the height of the Covid pandemic, McDonalds like all other restaurant chains suffered from the combined negative impact of missing customers and supply chain disruptions.  In words, how might each of these separately affect the Demand and Supply diagram.  What is the overall impact on the market for McDonalds?  Next, graphically depict the combined effect of the two, make a copy of the image, and insert at the bottom of the answer.  If you need help, with photographing and inserting an image, reach out to your instructor or classmate.

I have completed the two supply and demand shifts on the graphs shown in the screenshots. However, I wasn't sure if I made those adjustments correctly. Could you please confirm my accuracy with those charts and explain why they are or are not correct?   Additionally, I am having trouble understanding how to solve the multiple choice question at the bottom of the second screenshot. Could you please help me understand why the correct answer is what it is for this question? Thanks!

What is a good or service that has become expensive/cheap due to (a) natural scarcity/abundance of supply or naturally high/low demand, and (b) artificial mean (e.g., government policy, competition restricting practices)?

Analyze the demand function for Toyotas in problem C4, page 82.  Please also read “What is a Symbol” located in the folder with this assignment. This function is:                         QT = 200 -.01PT +.005P­M -10PG +.01I +.003A Where: QT = quantity purchased ​PT = average price of Toyotas ​PM = average price of Mazdas ​PG = price of gasoline ​I = per capita income ​A = dollars spent annually on advertising   Characterize this function by circling all in the following list that are applicable:               univariate, bivariate, multivariate, linear, exponential, logarithmic, curvilinear, 1st degree, 3rd             degree, additive, multiplicative, linearly homogeneous   What is the numerical value of the partial derivative of the function with respect to the price of gasoline (PG) (be sure to also include the + or – sign. Note: I do not want the symbol for this partial derivative)?     Write the mathematical symbol representing the coefficient of income (I) (the numerical…

Market equilibrium and disequilibrium The following graph shows the monthly demand and supply curves in the market for keyboards. 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. 05010015020025030035040045050080726456484032241680PRICE (Dollars per keyboard)QUANTITY (Keyboards)Demand Supply  Graph Input Tool   Market for Keyboards     Price (Dollars per keyboard)           Quantity Demanded (Keyboards)       Quantity Supplied (Keyboards)       The equilibrium price in this market is   per keyboard, and the equilibrium quantity is    keyboards bought and sold per month.   Complete the following table by indicating at each price whether there is a shortage or surplus in the market, the amount of that shortage or surplus, and…

Using supply and demand diagrams, SHOW AND EXPLAIN the market of onions (red or white) based from the article stated below. Identify the factor/determinant, link it with briefly the event, then indicate the effect on either the demand or supply, and equilibrium price and quantity. Complete notation applies which means numerical figures of onion prices should be seen in the graph matching the figures stated in the news article. Please do not research anymore prices other than what is specified in the article. Scanned handwritten/digitally hand-drawn graphs are allowed in the PPT slide. Source: "DA exec rules out option to import onion as farm harvest season starts" https://businessmirror.com.ph/2022/12/20/da-exec-rules-out-option-to-import-onion-as-farm-harvest-season-starts/#:~:text=DA%20exec%20rules%20out%20option%20to%20import%20onion%20as%20farm%20harvest%20season%20starts,-byJasper%20Y&text=Any%20plans%20to%20import%20onion,Panganiban%20said.

(f ) Using a graph, show what will happen in the market for gasoline if the price of oil increases and there is a vast increase in the population (e.g., another baby boomer generation)?

When the covid-19 shock started in early 2020, supermarkets quickly ran out of toilet paper as panic buying took place and its price remained the same. In that case demand was higher as compare to supply and by the time goods was disappear from the market?

Graphically illustrate how the demand curve for electric vehicles will be affected in each of these cases below.(a) A major climate change awareness campaign is instituted which teaches consumers about clean energy vehicles. (b) The price of gas-powered vehicles falls significantly, due to lower costs of production. (c) Gas prices experience a significant and long-standing increase.(d) The price of electric vehicles falls due to a fall in the cost of production.

A change in consumer’s expectations causes a movement along the demand curve or a shift in the demand curve? Explain. A change in price of the goods results in a movement along the demand curve or a shift in the demand curve? Explain (Word count: 250 words max.) Buyers' expectations about future prices can affect the demand curve. If consumers expect prices to increase, they buy more of a product now, and the demand curve moves to the right. A demand schedule for a normal good is as follows: Price               Quantity demanded  Rs.230                           70 210                                90 190                              110 170                              130 Do you think that the increase in quantity demanded (say, from 90 to 110 in the table) when price decreases (from Rs.210 toRs.190) is due to a rise in consumers’ income? Explain clearly (and briefly) why or why not.   Now suppose that the good is an inferior good. Would the demand schedule still be valid for…

Use the following information to answer the following question. The following linear demand specification is estimated for Spiker Drones, a price-setting firm: Q= a + bP + CM + DPR where Q is the quantity demanded for the product Spiker Drones sells, P is the price of that product, M is the income, and PR is the price of a related good. The results of the estimation are presented below: DEPENDENT VARIABLE: Q OBSERVATIONS: 32 R-SQUARE 0.7984 F-RATIO P-VALUE ON F 36.14 0.0001 PARAMETER VARIABLE ESTIMATE STANDARD ERROR T-RATIO P-VALUE INTERCEPT 846.30 76.70 11.03 0.0001 P -8.60 2.60 -3.31 0.0026 M 0.0184 0.0048 3.83 0.0007 PR -4.3075 1.230 -3.50 0.0016 Assume that the income is $10,000, the price of the related good is $40, and Spiker Drones sets the price of this product at $30. At the prices and income given above, what is the income elasticity? A. -1.62 B. -0.87 C. 0.21 D. 0.31 E. None of the above.

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onsider the general impact of the war in Ukraine on the market for wheat.  The April 30, 2022 issue of The Economist had an article titled “Can Brazil help with food shortages around the world?”.  You do not have to read the story to understand the setup of these questions. Please, carefully read each question to understand when these changes are introduced into the initial scenario. Here is what you should focus on to complete your analysis. For this analysis, assume the wheat market is perfectly competitive, demand is downward-sloping, supply is upward-sloping, and production technology results in traditional U-shaped ATC and AVC. Finally, for all questions, assume market price is always greater than the minimum of the AVC. You will be using the same graph in all questions that require a graph (Questions 6, 8, and 10), with each question asking you to add new elements to the graph as part of your analysis.   1) Assume that prior to the outbreak of the war in Ukraine, the wheat…

onsider the market for some product. Suppose the market demand and supply curves are as given below. e quantity is in million units. Demand: p= 18 - 4QD Supply: p=4+2Q⁹ Plot the demand and supply curves on a scale diagram. Compute the equilibrium price and quantity. ) Use the line drawing tool to draw and label these demand and supply lines in the graph at right. ) Use the point drawing tool to plot and label the equilibrium point. arefully follow the instructions above, and only draw the required objects. Price ($) 18.00- 16.00- 14.00- 12.00- 10.00- 8.00- 6.00- 4.00- 2.00- 0.00+ 0.0 1.0 2.0 3.0 Quantity (million units) 4.0 5.0 Q

You will draw a Supply and Demand diagram, and then do some additional things. Please follow the directions carefully. To begin, you will make some decisions, by answering for yourself these questions: What is the product (good) or service? What is the time period over which we are measuring, e.g., units sold per day, week, or month (don't go beyond month)? What is the geographic area we are looking at? Common choices might be: the city of …, the county of…, the state of…, the U.S. , the world. What is the range of possible prices you want to include? This could be from zero to some higher number. What is the range of possible quantities you want to cover? This will be a function of the product, the population, and the time period. These parameters can be made up, but should bear some connection to reality. EXAMPLE My product is plain white athletic socks, one pair. My time frame is one week - so the number of pairs sold in a week. My geographic area is the whole U.S., - so the…

Price & Demand In economic theory, we let z represent the number of items (called demand) a supplier will produce if the price of the item is p. For a particular item, if the price is $10 per item, then the demand is 577 items. However, if the price is raised to $33 per item, then the demand decreases to 393 items. Using this information, find the demand equation as a function of the price p? r(p)

com/courses/26116/discussion_topics/176523?module_item_id%3D1255293 LTaJtiCTty arna Topic According to the law of supply, if buyers are willing to pay more, sellers are willing to supply more. The price elasticity of supply is a measure of how much sellers are able to adjust the quantity supplied in response to changes in price. Read the following scenario and answer the corresponding questions. World renowned fashion designer Alvin Stein died recently. His company, Alvin Stein Designs has released the last 100 pair of his signature ASD Original jeans. The pattern and design sketches for the ASD Originals were buried with Alvin, per his last wishes. The current price of a pair of ASD Originals is $10,000. • What is the current price elasticity of supply for a pair of ASD Originals? Explain your answer. • Five years after his death, Alvin's sister, Jan released an exact replica of the signature jeans, called ASD Original 2.0, priced at $5000. How might this affect the demand for the…

For the following exercise, refer to the graph of the coffee market described on the right portion of your screen. Event: The future price of coffee is expected to escalate. In the graph of the coffee market (using the line drawing tool) show how the demand curve will change as a result of the event described above. Label the new demand curve 'D₂'. Note: if you are not prompted for a label, then you have used the wrong drawing tool. For the following exercise, refer to the graph of the coffee market described on the right portion of your screen. Event: Reports suggest coffee causes insomnia. In the graph of the coffee market (using the line drawing tool) show how the demand curve will change as a result of the event described above. Label the new demand curve 'D₂'- Note: if you are not prompted for a label, then you have used the wrong drawing tool. ← Price per kg Price per kg Quantity of coffee per week (millions of kgs) D₁ Quantity of coffee per week (millions of kgs)

Suppose consumers believe that prices will be rising in the future. How will that affect demand for the product in the present? Can you show this graphically?

Which of the scenarios are examples of an economic signal? Select all that apply  a - Prices in housing markets fall. b - Purchases of floppy disks and CDs decline dramatically as the demand for online streaming of similar goods increases. c - Companies begin hiring more people after a long period of high unemployment in the United States. d - The market price for toilet paper has not changed over the last 10 years.

Sellers expect the price of a good to rise in the near future. How will this affect the current supply of the commodity.  No need of diagram. Just theoritical explaination required.

The following graph shows the annual market for Florida oranges, which are sold in units of 90-pound boxes. 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. PRICE (Dollars per box) 50 45 40 35 20 15 10 5 0 +1+4+ Demand Ď Lll | | || || Supply 0 90 180 270 360 450 540 630 720 810 900 QUANTITY (Millions of boxes) In this market, the equilibrium price is Graph Input Tool Market for Florida Oranges Price (Dollars per box) Quantity Demanded (Millions of boxes) 20 486 per box, and the equilibrium quantity of oranges is Quantity Supplied (Millions of boxes) million boxes. ? 360