food truck vendor averages 150 tacos sold when the price per taco is $4. A study shows that the average number of tacos sold will increase by 25 tacos for every $1 that the price per taco is lowered. hich equation models the food truck's average sales in dollars, , in terms of the price per taco, x ? A 2= 25x + 250 B - - 25x + 250 C 25 + 250x -- 25 + 250
Q: If a $200 increase in price is associated with an increase in quantity of 50 visits, with regard to…
A: The need or desire to own goods or services is known as demand in economics. Demand is affected by…
Q: Which type of correlation does the scatter diagram show? O A. Weak negative correlation B. Strong…
A: In economics correlation is measured between the variables by anakyziy the direction and change in…
Q: What is meant by dummy variable and how dummy variables are constructed?
A: A dummy variable (aka, an indicator variable) is a numeric variable that represents categorical…
Q: The daily demand for Invigorated PED shoes is estimated to be Qdx = 100−3Px…
A: Own price elasticity is given as: ᶯo = (dQx/dPx) * (Px/Qx) dQx/dPx = -3 So, ᶯo = (-3) *…
Q: The following equation explains weekly hours of television viewing by a child in terms of the…
A: (i) Errors-in-variables are the models of regression used for measuring errors of independent…
Q: - x, for 0sxs5; S(x) = vx+1 %3D the coordinates of the equilibrium point? ordered pair.)
A: At equilibrium were demand = supply
Q: In a curved line, the value of the slope differs along the curve. True O False
A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…
Q: Gorgeousleny with an income of P150 would like to buy two goods. Let us say juice and bread. Price…
A: Two Products i.e. Juice and Bread Income = 150 Price of Juice = 12 Price of Bread = 6
Q: 1/ The data regarding the demand market of in tons (X) and the price of the kilo of flour presetas…
A: Price and Quantity Demanded is given Quantity Demanded(X) Price(Y) 112 1 104 2 96 3 88 4…
Q: 1. Find the relative maxima and minima of y by the second-derivative test: (a) y=-2x2+8x+ 25 (9…
A:
Q: 2. Gorgeousleny purchased a combination of 15 breads and 5 juices with her income of P150 and price…
A: Given , Price of bread = 6 Price of juice = 12 Initially she buy 15 breads and 5 juices But now ,…
Q: Which of the following are monotonic transformations? Please explain. 1) u = v² 2) u = lnv 3)u =…
A: The measure that depicts a way of transformation of a number set into another set that tends to…
Q: Given the following data X (consumers of teff) or popn 3 6 8 1 13 13 14 Y ( teff…
A:
Q: Determine whether or not the following function is homogeneous: y = 2xqx2 O Homogeneous Not…
A: Since you have posted multiple questions, as per guidelines we can solve only one at a time,
Q: If a scatter diagram shows a negative relation then, in general, as O x increases, y increases O y…
A: Answer: C ( x increases, y decreases) Explanation: A negative relationship between two variables x…
Q: Setting: U.S. Auto manufacturers are trying to develop a multivariate function with which to…
A: 6.) If all variables remain unchanged except that the price of the Toyota hybrid (Pt) decreases by…
Q: Check for Understanding: Numerical Congruence ABUG = APET. The perimeter of APET is 50 inches. If…
A: If the sides be a, b and c, then Perimeter = a + b + c 50 = 38 + c [since the triangles are…
Q: Explain in detail bias, variance, and the trade-off between them. Feel free to illustrate your…
A: Bias is an illogical or irrational preference or prejudice held by a person, which might be…
Q: What is the variable that adjusts the effect of the independent variable on the dependent variable…
A: There are 2 variables,dependent and independent variables.
Q: Suppose thata researcher, by using a sample of transactions of residential houses, wants to estimate…
A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…
Q: If Orange consumption (O) is distributed normally (mean=10.4, sd31.4), calculate the following. (all…
A: The standard statistical distribution may be a statistical distribution with a mean of zero and…
Q: What are the Least Squares Assumptions? also explain the usage of these Assumptions?
A: The Least Squares Assumptions and its usage are mentioned below: Regression model is a linear model…
Q: Please answer any one of the following discussion questions and reply to one of your peer's…
A: A budget line shows the combination of two goods that a consumer can buy given his/her budget…
Q: The daily demand for a product X is estimated to be: Qd = 100 – 3P, + 4P, – 0.01M + 2A, Where P =…
A: Given all the values of variables in the demand equation, the quantity demanded (QD) is;…
Q: If A is the dependent variable and B is the independent variable, then a change in A results in a…
A: A variable is a quantity that may change within the context of a mathematical problem or experiment.…
Q: Ypsilanti Market Research conducted a survey to find out whether people who earn more money purchase…
A: According to the question, it is said that : A graph is given that indicates the relationship…
Q: Which of the following expressions is the Lagrangian? O A. MUX=1PX В. бф = MUx(X,Y}- ¿Px %3D SX С.…
A: As per Given Data, Answer Is Given Below....
Q: write a short note about the following variables and support your answers by giving examples for…
A: Total Fixed Cost (TFC) - Total fixed cost is the cost which does not change with the change in…
Q: Suppose that a store decreases the price of laundry detergent from $4.10 to $3.50. As a result,…
A:
Q: Please review the question below and explain all steps clearly and thoroughly (please use neat…
A: According to guidelines, first 3 sub parts needs to be solved. Consumption over time is maximised…
Q: Suppose that the incomes of buyers in a particular market for a normal
A: Correct answer is option B the equilibrium price would decrease, but the impact on the amount sold…
Q: Mary is a corn farmer in Iowa. If she does not irrigate her field, she can produce 120 bushels of…
A: From the graph we see that the Y axis shows Irrigation water and Corn produced is shown on the…
Q: If a change in variable X causes a change in variable Y, variable Xis called the Select one: a.…
A: Variable: It is a factor liable for change.
Q: The relationship between a consumer’s income and the quantity of X, he consumes is given by the…
A: The relationship between a consumer’s income and the quantity of X, he consumes is given by the…
Q: A lake has two species of fish: bass and catfish. The number of bass and catfish living in the lake,…
A: Answer: If the number of bass and number of catfish is the same then the two equations will be…
Q: The demand function for apples is the following. Qn = 10 – Pn + 0.2Y +0.5 Pc – 2Ps + 0.2A Where: Qn…
A: Correct : b. It will decrease by 0.5 million kilos.
Q: Jane owns a bakery and she wishes to apply quantitative modelling to her small business. She…
A: The present cost at which an item or service may be bought or sold is referred to as the selling…
Q: der the relatiönship y = f(x). In this relationship: O a. y is called the independent variable and x…
A: y=f(x) implies that y is a function of x. The function can be increasing or decreasing. If y is an…
Q: How do you solve a problem similar to this? I’m confused on how to solve to find the quantity when…
A: (Q1-15)-Q1((Q1-15)+Q12)=-30.302[(Q1-15)-Q1](Q1-15)+Q1=-30.302Q1-30-2Q1=-30.30((Q1-15)+Q1)-30=-30.30Q…
Q: Suppose the researcher considers the following model: Wage = Bo +B1Female + u, and runs OLS, using…
A: In statistics, omitted-variable bias (OVB) occurs when a statistical model leaves out one or more…
Q: stion 16 A moderating variable influences the original relationship between one or more independent…
A: Moderating variables is that variables modify the original relationship between one or more…
Q: A stadium can seat 60,000 people. Assume 35% of seats are not occupied (not for sale) because of…
A: Market demand is linear means there is a linear relationship between quantity demanded and price.…
Q: Review the logic of spuriousness. Can you think up an example where an observed relationship between…
A: Spurious relationship:- Spurious relationship, also known as spuriousness, takes place when 2…
Q: According to Exhibit A-5, what is the relationshipbetween the price per pizza and the quantityof…
A: OPTION B - INVERSE Price per pizza and quantity of pizzas purchased are inversely related according…
Q: Mary is a corn farmer in Iowa. If she does not irrigate his field, she can produce 120 bushels of…
A: Here Mary is a corn farmer in Iowa whose field is such that it is able to produce 120 Bushels of…
Q: 1. Gorgeousleny with an income of P150 would like to buy two goods. Let us say juice and bread.…
A: Given information Total income=P150 Two product= Juice and Bread Price of Juice =P12 Price of Bread=…
Q: Explain Gauss–Markov Theorem with proof ? How estimators satisfy the equations?
A: In statistics, the Gauss-Markov theorem states that in a linear regression model in which the errors…
Q: Consider a consumer with the utility function U (x1, x2 ) = 10x12/3x21/3 −50. Suppose the prices of…
A: Optimization problem :Here the consumer will want to allocate both the goods in such a way that his…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Cristina is excited with these averages and tells her public relations team to prepare a glossy brochure to showcase this $250 increase in household income. which of the following must be true to confidently conclude that this $250 difference in average income was caused by access to a UThere The herders who bought UThere phones would have had higher income than the herders who did not even if they had not purchased the UThere phone. The herders who bought UThere phones would have had the same income as the herders who did not even if they had not purchased the UThere phone. We don’t need to worry about Selection Bias since Nepal and Tibet are small countries with more or less similar people. The equation for Selection Bias does not provide enough information since we do not know the counterfactuals.Consider a class with 80 enrolled students. None of the students were ill at the beginning of the school year. On August 30th, 10 students reported having a common cold. All continued to be ill on September 1st, but all 10 recovered within 3 days. On September 15th, 5 more students had a cold. All of these students continued to be ill on September 16th, but all recovered 5 days later. In this example, assume that a person cannot have a cold more than once.calculate the cumulative incidence of the common cold in the class during the month of septemberYou are the mayor of a small town with 2000 residents. The head of your economic development agency recently conducted a survey in which the 2000 residents said that a public concert in the centre of town would be worth $20 to each of them. Since it costs only $5000 to hold the concert, you organized and held the concert, which everyone in town enjoyed. But when you asked for donations to pay for the concert, you only collected $30 in total. What do you know? Question 88 options: The concert was an example of the Tragedy of the Commons. From the standpoint of total costs and benefits, the cost of the concert certainly exceeded the benefit. The survey certainly overstated how much the concert was worth to each resident. Residents of the town were probably free riders.
- As a manager of a small software retailing company, you are concerned with projected profit next year. While profit can be determined as the difference between sales and maintenance cost, or in symbols, P = S - M, where P is profit, S is sales, and M is maintenance cost including technical support. It is argues that when sales goes up so does maintenance cost because the cost of technical support will go up. Further, it is measured that the correlation between S and M is 0.8. Now given the figure that sales next year is expected to be $300 thousand with standard deviation of $4 thousand and maintenance cost is expected to be $150 thousand with standard deviation of $6 thousand, what would be the expected profit and its standard deviation you will include in your report?Suppose that the government tends to maximize the tax revenue. How would the cannabis price drop affect the government tax revenue if cannabis was taxed by price? Did the government anticipate the cannabis price drop when designing the tax scheme? You may come up with an artificial numerical example to support your findings. are alcohol and cigarettes substitutes or complements of cannabis?(The answer to this question depends on the actual consumption data. If you do not know the data, you may make an assumption. Then, you should stick with this assumption for the rest of your analysis. For example, if you assume that alcohol and cigarettes are substitutes of cannabis, then your entire analysis is based upon this assumption.) How would the change in the price of cannabis possibly affect the market demand curve for alcohol/cigarettes?Similar to previous health pandemics, at the outset of the COVID-19 pandemic the demand for protective goods such as masks, gloves and sanitisers increased markedly around the globe resulting in retailers making super profits. In addition, the sales of personal protective equipment (PPE), cleaning and fumigation contractors surged up as their demand increased. According to data released by Monfils LLC, an international research firm based in the Italy, face mask sales grew by a year-on-year increase of 400% in April 2020. However, in December of 2020, the price of face masks fully retraced back to its pre-COVID-19 level.1.1 With the aid of diagrams, evaluate the change in the market structure between March 2020 and December 2020 as well as other factors that could have influenced the price increase of face masks in March 2020.1.2 Critically discuss how price elasticity of demand of face masks was affected, including its impact on revenue at the outset of the pandemic relative to later…
- A study by University of Minnesota economist, Joel Waldfogel, estimated the difference in the actual monetary value of gifts received and how much the recipients would have been willing to pay to buy them on their own. The study suggested that the average recipient’s valuation was approximately 90% of the actual purchase price. a. In 2017, it was estimated that the average amount spent on winter holiday gifts in the United States was $906. Based on the estimate from the Waldfogel study, how much of this would be deadweight loss? Enter your answer to the cent. b. In 2017, approximately 250 million people in the United States were above the age of 18. Assuming that each individual purchased $906 worth of gifts, what was the total deadweight loss associated with gift-giving in the United States? Round your answer to the nearest billion dollars.3Q6Q7Q8: all questions have a correlation towards each other. Use the following to complete them.Ex 8. An airline's data indicate that 50 percent of people who begin the online process of booking a flight never complete the process and pay for the flight. To reduce this percentage, the airline is considering changing its website so that the entire booking process, including flight and seat selection and payment, can be done on two simple pages rather than the current four pages. A random sample of 300 customers who begin the booking process are exposed to the new system, and 117 of them do not complete the process. a. Formulate the null and alternative hypotheses needed to attempt to provide evidence that the new system has reduced the noncompletion percentage. b. Use critical values to perform the hypothesis test by setting α equal to .10, .05, .01, and .001
- Head and spine injury, along with the long-term effects of concussion of football players, is a very controversial health issue. As a result, the news has been covering this health issue, with many headlines involving famous NFL players. It has been assumed that this has made most Americans that follow football more aware of the risks involved in playing the game. However, we have not seen a decline in the number of young boys, ages 8-10, that are joining football leagues. For this age group to take part in playing football, these young boys need to have the permission of a parent or guardian to play, which demonstrates the adults support to their participation. Given the risks to these young boy’s health, we wonder why would parents allow or even encourage their children to play football? Using what you know about qualitative research, briefly explain (one page): How would you design a qualitative research study, with the goal of gaining an understanding of why parents allow their…It is known that the ABC oil company supplies consumers with 150 tons of products per day. The company produces only two types of products - gasoline and diesel fuel. The limiting transformation ratio of diesel fuel relative to gasoline is 0.5. a) Draw a line of the company's monthly production capacity for gasoline and diesel. b) With the advent of new technologies, production increased by 20%, and the availability of gasoline increased by 30%. Explain how the company's new product line differs from the previous one. c) If we put the gasoline production on the X-axis of the graph, what percentage of the slope capacity of the production line is different from the slope ratio of the previous production line?Given the following data X (consumers of teff) or popn 3 6 8 1 13 13 14 Y ( teff consumption) 8 6 10 12 12 14 20 year 2013 2014 2015 2016 2017 2018 2019 Estimate the regression equation, Y= a+bX, Where Y denotes demand for teff while X is consumers of teff (population) By assuming demand for teff is only affected by its consumers, find the amount demand for teff in the year 2022 if the populations (consumers of teff) are about 18 people? (Hint: use the least square method, parameter a and b can be estimated by solving the two linear equations) SY= na+ bSX SXY=aSX +b Where n is number of years. For example, Estimate the sales for 2012, 2015 and fit a linear regression equation and draw a trend line.ar X Sales (Y) XY X2 year X Sales (Y) XY X2 2002 1 22734 22734 1 2003 2 24731 49462 4 2004 3 31489 94467 9 2005 4 44685 178740 16 2006 5 55319…