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- 36- What is the slope of a nonlinear function at its minimum point? a) 3 B) 4 NS) one D) 0 TO) 2nd. (a-) Graph the function Y= 36/X , assuming that X and Y can take positive values only. Next, suppose that both variables can take negative values as well; how must the graph be modified to reflect this change in assumption?19. Suppose Q is related to L and K in the following nonlinear way: Q = aLbK c a. How well does this nonlinear model fit the data? b. Write the estimated equation in either the log-linear form or the nonlinear way. c. What is the estimated elasticity of L? Of K?
- Please find the effect of Y and r if there is a decrease in the tax rate. Use the following equations and evaluate the total derivative.4- The manager of Collins Import Autos believes the number of cars sold in a day(Q) depends on two factors: (1) the number of hours the dealership is open (H) and (2) the number of salespersons working that day (S ). After collecting data for two months (53 days), the manager estimates the following log-linear model: Q = aHbSc ----- a. Explain how to transform this log-linear model into a linear form that can be estimated using multiple regression analysis. b. How do you interpret coefficients b and c? If the dealership increases the number of salespersons by 20 percent, what will be the percentage increase in daily sales? c. Test the overall model for statistical significance at the 5 percent significance level.A rental car company has a special deal on one of the available rentals. Let C be the cost, in dollars, of the rental car as a function of the distance d, in miles, it is driven in one day. A. What would the value C(75) represent in this context? B. Is function Cincreasing or decreasing? What are the units of the slope in this situation? C. Identify any maximum or minimum values of the function. What do they represent in this situation? State any assumptions that you make. D. Would the graph of C have any intercepts? What would they represent in this situation? E. Write a rule for C(d), and sketch a graph of the function.
- Imagine that you work for the maker of a leading brand of low-calorie, frozen microwavable food that estimates the following demand equation for its product using data from 26 supermarkets around the country for the month of April. Note: The following is a regression equation. Standard errors are in parentheses for the demand for widgets. QD = - 5200 - 42P + 20PX + 5.2I + 0.20A + 0.25M (2.002) (17.5) (6.2) (2.5) (0.09) (0.21) R2 = 0.55 n = 26 F = 4.88 Your supervisor has asked you to compute the elasticities for each independent variable. Assume the following values for the independent variables: Q = Quantity demanded of 3-pack units P (in cents) = Price of the product = 500 cents per 3-pack unit PX (in cents) = Price of leading competitor's product = 600 cents per 3-pack unit I (in dollars) = Per capita income of the standard metropolitan statistical area (SMSA) in…7 using average formula. please give a step by step solutionMarketing surveys conducted by the sales manager for a company determined that 3,000 power drills could be sold for $60 each, but 4,000 drills could be sold for $50 each. (a) If the two data points were plotted on a coordinate system with the number of drills sold on the horizontal axis and the price of each drill on the vertical axis, what is the slope of the line between the two points? (b) Write a sentence that explains the result in part (a) in the context of this problem. For every additional drill sold, the price per drill (in cents) decreases by cent(s). (c) Assuming the trend in part (a) continues, how many drills can be sold for $56? drills
- part a b and c solved Suppose that a coffee producing firm estimated the following regression of thedemand for its brand of coffee:Qc = 1.5 − 3.0Pc + 0.8Y + 2.0Pb − 0.6PS +1.2 Awhere Qc = sales of coffee brand C, in dollarsper pound Pc = price of coffee brand C,in dollars per poundY = personal disposable income, in millions of dollars per yearPb = price of the competitive brand of coffee, in dollarsper pound Ps = price of sugar, in dollars per poundA = advertising expenditures for coffee brand C, in hundreds of thousands ofdollars per year.Suppose also that this year, Pc = $2, Y = $2.5, Pb = $1.80,Ps = $1 and A =$1.a. Interpret the results of the estimated demand.b. Compute point price elasticity of demand for the firm’s brand of coffeewith respect to its price.c. Compute the cross-price elasticity of demand for coffee with respect to theprice of competitive coffee brand b.d. At the current price level, would it be viable for the firm to increase the pricelevel of its brand of coffee?…Come up with two variables that, in your view, are related, indicate the name of these variables as well as why these variables are related; determine which variable is the dependent variable and which one is the independent variable. Draw a line graph by hand, labeling the vertical and horizontal axis consistent with your choice of variables. The line in the line graph has to represent, what, in your view, is the relationship between the two variables. Describe your graph verbally in your post (no need to upload the graph itself). Note:- • Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. • Answer completely. • You will get up vote for sure.The following graph contains four lines (A, B, C and D), each of which has a slope that is either positive, negative, zero, or infinite. Y-axisX-axisBDCA For each of the following scenarios, indicate whether the relationship between the two variables is positive or negative, as well as which line on the previous graph has a slope that reflects this type of relationship. Hint: The X-axis and Y-axis on the graph are not labeled intentionally. You need to substitute the variables from each scenario for the horizontal and vertical axis. For example, in the first scenario, X-axis should be labeled “ ice-cream" and Y-axis should be labeled "The temperature". Scenario Relationship Line As the temperature rises, the demand for ice-cream rises. Negative As the temperature rises, the demand for hot cocoa falls. Positive As the temperature falls, the demand for popsicles falls. Negative True or False: Line B has a slope of infinity.…
