ECO 201 Project Template

FCR and Average daily gain are measured in a continuous scale. true or false

The town of Whoopup has decided that it needs a new public library. Although the city leaders have made this decision, the decision of location of the library is still an open question. Knowing that you have a  back ground in economic decision making, they selected you to formulate their decision problem. You gather data from the city leaders to determine the important attributes to consider in the decision; you then acquire information for both sites and present it in teh shown Table . Use the tools introduced in this chapter to make a site recommendation. Prepare to defend your analysis.

Determine the mode choice (personal vehicle or bus system) for the following regression model:              Utility Function: Umode – (8.333 x 10-4)*(Access time in sec) – (6.667 x 10-4)*(Wait Time in sec) – (5.00 x 10-4)*(Riding time in sec) – (1.40)*(Cost, $)   PARAMETER PERSONAL VEHICLE CITY BUS SYSTEM MODE CONSTANT -0.01 -0.07 ACCESS TIME (SECS) 300 600 WAITING TIME (SECS) 0 900 RIDING TIME (SECS) 1,500 6,000 COST (DOLLARS) $1.50 $1.00

regression result for your product is shown in the table below: Variable Parameter Estimates Standard error Constant -164.0 20.24 Price of good X (P,) Price of good Y (P,) -3.50 1.55 2.50 0.28 Per capita Income (/) 0.45 0.52 R-squared Adjusted R-squared 0.8672 0.8132 F-statistic 15.6893 a) Suppose the average price of 3 units of good X is GH¢12, price of 2 units of goodY is GH¢60, the per capita income of Ghana is GH¢420. i. Write down the estimated demand equation for your firm's product and interpret the parameter estimates. Determine the quantity of good X sold. Estimate the own price elasticity of demand and state the type of demand curve 11. 111. your firm has? What would be the effect of a price increase on the firm's total revenue? iv. Assess the probable impact on your firm if the firm producing geod Y decreases their price by 10%. Explain the adjusted R-squared Is the good X a normal or inferior good? What is the relationship between good X and good Y? V. vi. vii. viii..

regression result for your product is shown in the table below: Variable Parameter Estimates Standard error Constant -164.0 20.24 Price of good X (P,) Price of good Y (P,) -3.50 1.55 2.50 0.28 Per capita Income () 0.45 0.52 R-squared Adjusted R-squared 0.8672 0.8132 F-statistic 15.6893 a) Suppose the average price of 3 units of good X is GH¢12, price of 2 units of goodY is GHe60, the per capita income of Ghana is GH¢420. Write down the estimated demand equation for your firms product and interpret the 1. parameter estimates. I 11. Determine the quantity of good X sold. 111. Estimate the own price elasticity of demand and state the type of demand curve туре irm has? your What would be the effect of a price iıncrease on the firm's total revenue? iv. V. Assess the probable impact on your firm if the firm producing good Y decreases their price by 10%. Explain the adjusted R-squared Is the good X a normal or inferior good? vi. vii. viii. What is the relationship between good X and good Y?

Find f'(x). 2 X +2 f(x) = 7x - 6 f'(x) = %3D

Of the fundamental dimensions length, mass, time, and electric charge, which one is the most important in economic analysis? Why?

Plastic cups are made by forming of raw plastic. The price of plastic is 4.500 OMR per kg and the price of plastic cups is 13 OMR per 1000 cups. Plant requires differ- ent machine which cost about 50,000 OMR, but the machines has to be imported, after paying 25% as customs duty. On a graph paper, draw a freehand graph and represent all important parameters. Due to increase in plastic price, the break-even quantity has increased by 10%. Find out the new plastic price?

4) answer last set of questions/blanks (see picture) model Total miles/month _____ Gallons consumed _____

Problem 2: As a building designer, you have been asked to analyze and select the best window frame type alternative-either aluminum or steel. The project is located in a remote area, and the nearest industrial area hosting steel and aluminum windows frames manufacturers is 250 km away. All project windows are identical, and the circumference of the window frame is 6.2 meter. A crew of two labors is required to manufacture one steel frame. It takes 2.5 hours to manufacture the first window every day, and the learning rate is 0.9. The number of production units is per day is limited to 8. The weight of steel is 12 kg per meter, and the weight of aluminum is 4.5 kg per meter. The cost of steel is 0.4 OMR per kg and the cost of aluminum 1.1 OMR per kg. If 45 windows frames are required for the project, the crew cost is 3 OMR per hour for steel frames and 3.6 for aluminum frames, and the transportation, price is 0.01 OMR per kg per 50 km, which alternative would you select?

Problem 1 Brutus Corporation produces two products, Paper Towel (P) and Foot Mop (F), which must be processed in two departments, Cutting and Finishing. Cutting has 130 hours available per month, while Finishing has 185 hours. The number of hours required to process the products in the two departments and the contribution margin per unit of the products are as follows: CM per unit Required hours per unit: Cutting Finishing Required: Paper Towel (P) 18 4 hours 6 3) In the Cutting constraint, if F=0, how much is P? 4) In the Finishing constraint, if P=0, how much is F? Foot Mop (F) 24 8 hours 10 |||

Eastman Publishing Company is considering publishng an electronic textbook about spreadsheet applications for business. The fixed cost of manuscrpt preparation, textbook design, and web site construction is estimated to be $160,000, Varable processing costs are estimated to be $6 per book. The publisher plans to sell single user access to the book for $46. (a) Buld a spreadsheet model in Excel to calculate the profit/loss for a given demand, What profit can be anticipeted with a demand of 3,500 copies? For subtractive or negative numbers use a minus sign. (b) Use a data table to vary demand from 1,000 to 6,000 in increments of 200 trn test the sensitivity of profit to demand. Breskeven occurs where profit goes from a negabve to a positive value, that s, breakeven is where total revenue - total cast yielding a profit of zero. In which interval of demand dons breakeven occur? (1) Breakeven appears in the interval of 4,200 to 4,800 copies. (i) Breakeven appears in the interval of 4,000 to…

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Define the term PW Analysis?

draw a D/S diagram to illustrate your answer. (Currently there are approximately 20,000 children in Canada waiting for adoption, but only about 1000 are adopted each year. Meanwhile about 2000 children per year are adopted from overseas.

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…

4. The estimation of the model with quarterly car sales in the U.S. from 1975 to 1990 gives: Source | df MS Number of obs = 64 F( 2, Prob > F 61) = 12.21 Model .32720224 2 .16360112 0.0000 Residual | .817286587 61 .013398141 R-squared Adj R-squared = 0.2625 Root MSE 0.2859 Total | 1.14448883 63 .018166489 .11575 lqne | cCoef. t P>|t| std. Err. [95% Conf. Interval] 1price lincome -.4604611 3.37186 6.89398 -.8280926 .1838504 -4.50 0.000 -1.195724 2.399991 . 4860261 4.94 0.000 1.428121 _cons 5.92543 .4843662 12.23 0.000 4.95688 Based on the parameter estimates, what is the predicted effect of a 10% increase in price on the number of cars sold? What would be the effect of that price increase on the value of car sales?

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i need help with this question 8 from my microeconmics assigments. i have already gotten it wrong twice.

The profit (in dollars) from the sale of x lawn mowers is P(x)= 20x - 0.02x^2 - 650 (A) Find the average profit per mower if 60 mowers are produced (B) Find the marginal average profit at production level of 60 mowers, and interpret results (C)Use the results from parts A and B to estimate the average profit per mower if 61 mowers are produced (

A company produces and sells luxury goods and is able to control the demand for the product by varying the selling price. The relationship between price and demand is found to be: p=10-(42/D^2)+2Dwhere p is the price per unit in million dollars and D is the demand per year. The company is seeking to maximize its profit. The fixed cost is $59 million per year and the variable cost is $25 million per unit. The production capacity is 42 units per year, and the company produces at least 1 unit per month.a) Derive how to find the number of units that should be produced annually to maximize profit.b) What is the maximum profit per year?c) What is the annual breakeven point?d)What is the company’s range of profitable output per year?

I need help with c

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Interpret the slope (m) and R2 values given in the equation of linear regression for both costs and benefits.

"Time fixed effects control for unobserved variables that are the same acrossentities but vary over time". Is this statement true?

The following two equations were estimated using the data in MEAPSINGLE. The key explanatory variable is lexppp, the log of expenditures per student at the school level. math4 = 24.49 + 9.01 lexpp – 422 free – .752 Imedinc – .274 pctsgle (.071) (59.24) (4.04) n = 229, R² = .472, R² (5.358) (.161) 462. 149.38 + 1.93 lexppp – .060 free – 10.78 Imedinc – .397 pctsgle + .667 read4 (3.76) math4 (41.70) (2.82) (.054) (.111) (.042) n = 229, R = .749, R = .743. (i) If you are a policy maker trying to estimate the causal effect of per-student spending on math test performance, explain why the first equation is more relevant than the second. What is the estimated effect of a 10% increase in expenditures per student? (ii) Does adding read4 to the regression have strange effects on coefficients and statistical signifi- cance other than Brexppp? (iii) How would you explain to someone with only basic knowledge of regression why, in this case, you prefer the equation with the smaller adjusted…

While managing a project, you decide to prepare an email for the project stakeholders describing the current project status. This is best described as an example of: A. Vertical communication B. Nonverbal communication C. Informal communication D. Formal communication Analogous Estimating is an estimation technique that use the values of parameters such as scope, cost, budget and duration from a previous similar activity as the basis of activity and is frequently used to estimate when there is a limited amount of information about the project. This is a form of: A. Gross value estimation B. Function point estimation C. Fixed point estimation D. Precision Estimation

For a Research Report Create Literature Review     It should be selective and critical. This will include  summary and evaluation  of a minimum of five (5) sources. Discussion of work done by others should lead the reader to a clear idea of how you will build upon past research and also how your work differs from theirs. topic : Social and Economic Consequences of rising food prices on households in Paul’s Avenue in St. Vincent.

A student prepared the following spreadsheet model to calculate the final price of clothing items which are sold at a discount. To be complete, the student included a calculation of sales tax in the final price, given the original price (180), discount (0.2), and sales tax rate (0.09) shown below.     A B 1     2 Original Price 180 3 Discount(%) 0.2 4 Discount ($) = B2 × B3 5 Net Price = B2 − B4 6 Sales Tax(%) 0.09 7 Sales Tax($) = ROUND(B5 × B6,2) 8 Final Price = ROUND(B5 + B7,2)   Determine what values the spreadsheet should display. (Round your answer to 2 decimal places.)

A farmer is determining how much land, g (acres), to actively bring into cultivation over a two year period (i=1,2). For soil sustainability purposes, once the land is cultivated in year one, it cannot be cultivated in year two: http://www.worldwildlife.org/threats/soil-erosion-and-degradation. You can also re-watch It's Alive: Going Places (ranching in Texas). The annual MB=40-0.5*gi and MC=8. If there was no scarcity, how many acres would be cultivated each period? Answer: 64 Now assume the discount rate is 10% and there are 100 acres to farm. What is the price to cultivate an acre in year 1? Answer: Now assume the discount rate is 10% and there are 100 acres to farm. What is the price to cultivate an acre in year 2? Answer: