The yield of a grain, Y (/ha), appears to be linearly related to the amount of fertilizer applied, X (kg/ha). An experiment was conducted by applying different amounts of fertilizer (0 to 10 kg/ha) to plots of land and measuring the resulting yields. The following estimated regression line was obtained: yield = 4.85 + .05(fertilizer) Which of the following is not correct? O For every additional kg/ha of fertilizer applied, the yield is estimated to increase 0.05 tha. O If no fertilizer was used, the yield is estimated to be 4.85 t/ha (note that zero use of fertilizer is within the range of this data). O If the current level of fertilizer is changed from 7.0 to 9.0 kg/ha, the yield is estimated to increase by 0.20 t/ha. O To obtain an estimated yield of 5.2 tha, you need to apply 7.0 kg/ha of fertilizer. O If fertilizer is applied at 10 kg/ha, the estimated yield is 5.35 t/ha.

The yield of a grain, Y (/ha), appears to be linearly related to the amount of fertilizer applied, X (kg/ha). An experiment was conducted by applying different amounts of fertilizer (0 to 10 kg/ha) to plots of land and measuring the resulting yields. The following estimated regression line was obtained: yield = 4.85 + .05(fertilizer) Which of the following is not correct? O For every additional kg/ha of fertilizer applied, the yield is estimated to increase 0.05 tha. O If no fertilizer was used, the yield is estimated to be 4.85 t/ha (note that zero use of fertilizer is within the range of this data). O If the current level of fertilizer is changed from 7.0 to 9.0 kg/ha, the yield is estimated to increase by 0.20 t/ha. O To obtain an estimated yield of 5.2 tha, you need to apply 7.0 kg/ha of fertilizer. O If fertilizer is applied at 10 kg/ha, the estimated yield is 5.35 t/ha.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter4: Estimating Demand

Section: Chapter Questions

Problem 9E

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