Econ

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1. (10 pts.) Stella Ann Freeman is having a difficult time deciding whether or not to purchase a new car. How would understanding the concept of opportunity costs help her make a decision?

Write the equations for each company in slope intercept form: y = mx + b.

7. Which of the following must be true if a firm is experiencing economies of scale?

By definition, a regression equation is an equation used in statistics to find out what relationship, if any, exists between sets of data. This is most useful for predicting future data or estimating data that exists in between. To find a regression equation, a scatter plot must first be

effect on the dependent variable. While one correction to scalar effects may be to use what is

As countries, we are continuously concerned in distinguishing where we are and where we are going. For this assignment our CLC will take a look and begin to better understand how Germany has developed, while simultaneously understanding how Jamaica is developing. Our CLC group will prepare a report incorporating the following information on Germany and Jamaica. We will employ the country 's top five exported and imported products for the most recent year available. Furthermore, we will employ the country 's top five trading

The magnitude of the slope of the budget line equals the relative price of the good or service measured on the horizontal axis. A fall in the price of the good measured on the horizontal (vertical) axis decreases that good’s

The trendline, known as the line of best fit or the least squares regression line, shows the linear equation which best explains the sums up the data’s trend. The formula on the right is the formula of the line of best fit.

where colGPA is measured on a four‐point scale, hsperc is the percentile in the high

b) If the inverse demand curve were P= 20-0.5(q1+q2), what would your answer be now?

INTRODUCTION TO MANAGERIAL ECONOMICS Dr. Gong Jie National University of Singapore  Why Do We Study Economics  People have to “Choose” ♦ Resources are scarce. ♦ There is No Such Thing as Free Lunch!

As can be observed through these results, the t-values for both RDPI and CPI are greater than |1.96|. Therefore, both of these variables are statistically significant and consequently have an effect on Personal Consumption Expenditures. However, the t-value for the coincident index is not statistically significant, which means that we cannot conclude that it affects consumption. It can be assumed through this regression model that as personal income increases by 1 unit, consumption increases by 3.339 units. As well, as PCE increases by one unit it can be assumed that PCE will increase by 6.888 units. Therefore, I can

To detect multicollinearity, we calculate the variance inflation factors for each predictors in RHS (Mansfield and Helms 1982). The VIF (variance inflation factors) for each predictor xj is: VIFj = 1/( 1−R2j). R2j is the coefficient of determination of the model that includes all predictors except the jth predictor. The models for the VIF test are:

• Error values (ε) are statistically independent • Error values are normally distributed for any given value of x