A regression was run to determine whether there is a relationship between the diameter of a tree (
in inches) and the tree’s age (
in years). The results of the regression are given below. Use this to predict the age of a tree with diameter 10 inches.
For the following data, draw a scatter plot. If we wanted to know when the population would reach 15,000, would the answer involve interpolation or extrapolation? Eyeball the line, and estimate the answer.
For the following data, draw a scatter plot. If we wanted to know when the temperature would reach 28 °F, would the answer involve interpolation or extrapolation? Eyeball the line and estimate the answer.
The U.S. Census tracks the percentage of persons 25 years or older who are college graduates. That data for several years is given in
[link]http://www.census.gov/hhes/socdemo/education/data/cps/historical/index.html. Accessed 5/1/2014. . Determine whether the trend appears linear. If so, and assuming the trend continues, in what year will the percentage exceed 35%?
The U.S. import of wine (in hectoliters) for several years is given in
[link] . Determine whether the trend appears linear. If so, and assuming the trend continues, in what year will imports exceed 12,000 hectoliters?
Year
Imports
1992
2665
1994
2688
1996
3565
1998
4129
2000
4584
2002
5655
2004
6549
2006
7950
2008
8487
2009
9462
Yes, trend appears linear because
and will exceed 12,000 near midyear, 2016, 24.6 years since 1992.
[link] shows the year and the number of people unemployed in a particular city for several years. Determine whether the trend appears linear. If so, and assuming the trend continues, in what year will the number of unemployed reach 5?
For the following exercises, use each set of data to calculate the regression line using a calculator or other technology tool, and determine the correlation coefficient to 3 decimal places of accuracy.
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
When MP₁ becomes negative, TP start to decline.
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
ok
Shukri
how do you save a country economic situation when it's falling apart
Economic growth as an increase in the production and consumption of goods and services within an economy.but
Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has
The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50.
A,Calculate quantities of x and y which maximize utility.
B,Calculate value of Lagrange multiplier.
C,Calculate quantities of X and Y consumed with a given price.
D,alculate optimum level of output .
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
