Quiz 6-Module 4
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Quiz 6, Module 4
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Quiz 6, Module 4
Question 1
Complete
Mark 1.00 out
of 1.00
Question 2
Complete
Mark 1.00 out
of 1.00
Started on
Thursday, 9 January 2020, 9:27 PM
State
Finished
Completed on
Thursday, 9 January 2020, 9:45 PM
Time taken
17 mins 59 secs
Grade
12.00 out of 14.00 (
86
%)
Exhibit 14-7 You are given the following information about y and x:
y
Dependent Variable
x
Independent Variable
5
4
7
6
9
2
11
4
Refer to Exhibit 14-7. The least squares estimate of b1 (slope) equals:
Select one:
a. -10
b. 10
c. 0.5
d. -0.5
Exhibit 14-7 You are given the following information about y and x:
y
Dependent Variable
x
Independent Variable
5
4
7
6
9
2
11
4
Refer to Exhibit 14-7. The least squares estimate of b0 (intercept) equals:
Select one:
a. -10
b. 10
c. 0.5
d. -0.5
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Quiz 6, Module 4
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Question 3
Complete
Mark 1.00 out
of 1.00
Question 4
Complete
Mark 1.00 out
of 1.00
Question 5
Complete
Mark 1.00 out
of 1.00
Exhibit 14-7 You are given the following information about y and x:
y
Dependent Variable
x
Independent Variable
5
4
7
6
9
2
11
4
Refer to Exhibit 14-7. The sample correlation coefficient equals:
Select one:
a. 0.3162
b. -0.3162
c. 0.10
d. -0.10
Exhibit 14-7 You are given the following information about y and x:
y
Dependent Variable
x
Independent Variable
5
4
7
6
9
2
11
4
Refer to Exhibit 14-7. The coefficient of determination equals:
Select one:
a. 0.3162
b. -0.3162
c. 0.10
d. -0.10
Exhibit 14-8 Refer to Exhibit 14-8. You are given the following information regarding a dependent variable Y and an
independent variable X:
S
X = 90
S (
Y - )(X - ) = -156
S
Y = 340
S
(X - )
= 234
n = 4
S (
Y - )
= 1974
SSR = 104
The total sum of squares (SST) is:
Select one:
a. -156
b. 234
c. 1870
d. 1974
2
2
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Question 6
Complete
Mark 1.00 out
of 1.00
Question 7
Complete
Mark 1.00 out
of 1.00
Question 8
Complete
Mark 1.00 out
of 1.00
Exhibit 14-8 Refer to Exhibit 14-8. You are given the following information regarding a dependent variable Y and an
independent variable X:
S
X = 90
S (
Y - )(X - ) = -156
S
Y = 340
S
(X - )
= 234
n = 4
S (
Y - )
= 1974
SSR = 104
The sum of squares due to error (SSE) is:
Select one:
a. -156
b. 234
c. 1870
d. 1974
2
2
Exhibit 14-8 Refer to Exhibit 14-8. You are given the following information regarding a dependent variable Y and an
independent variable X:
S
X = 90
S (
Y - )(X - ) = -156
S
Y = 340
S
(X - )
= 234
n = 4
S (
Y - )
= 1974
SSR = 104
The mean square error (MSE) is:
Select one:
a. 1870
b. 13
c. 1974
d. 935
2
2
Exhibit 14-8 Refer to Exhibit 14-8. You are given the following information regarding a dependent variable Y and an
independent variable X:
S
X = 90
S (
Y - )(X - ) = -156
S
Y = 340
S
(X - )
= 234
n = 4
S (
Y - )
= 1974
SSR = 104
The slope of the regression equation is:
Select one:
a. -0.667
b. 0.667
c. 100
d. -100
2
2
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costs used to determine GDP under the resource cost-income approach.
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Using the expenditure approach, GDP is S
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There is a dollar sale on neckties. You buy 10. Estimate your consumer surplus if you would have been willing to pay $10 for the first
tie, $9 for second, $8 for the third, and so forth.
A reasonable estimate of your consumer surplus from the ten ties is $
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Case Title:Sustainable consumption and production: Trends, challenges and options for the Asia-Pacific region
Case link:https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1477-8947.2010.01275.x
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9. Elasticity and total revenue
The following graph shows the demand curve for trekking poles. Points L, M, N, and O mark price ranges over which you will be asked to calculate the
price elasticity of demand for this good.
Use the purple rectangle labeled Total Revenue (diamond symbols) to compute total revenue at various prices along the demand curve. To see the
area of the Total Revenue rectangle, select the shaded area with your mouse. You will not be graded on where you place the rectangle.
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After following the directions provided in the Module Lecture Folders: BEGIN HERE Step 1 to Complete for Your Academic Timeline and the remaining steps provided in 1 of the 4 corresponding folders, please submit all your saved documents.Remember:Make sure each document is saved as a.pdf or.docx fileo Step 1 can be a .jpeg file.Make sure each document is labeled as stated in each Step.Submit all your documents in 1 submissionoyou are able to upload/attach multiple documents for your 1 submission
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6. Problems and Applications Q5
The following graph shows the long-run aggregate-supply curve (LRAS), the short-run aggregate-supply curve (AS), and the aggregate-demand curve
for an economy.
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目
LRAS
Aggregate Supply
Aggregate Demand
Aggregate Supply
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Aggregate Demand
Quantity of Output
The economy is in a recession
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4. Using the rule of 70
Growth Rate
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Using the rule of 70, determine the number of years it will take the economy to double at each growth rate.
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Assignment 1 - Part 4 of 4 - Chapter 5 Questions
Consider some determinants of the price elasticity of demand:
• The availability of close substitutes
• Whether the good is a necessity or a luxury
• How broadly you define the market
• The time horizon being considered
A good without any close substitutes is likely to have relatively elastic
▼ demand, since consumers cannot easily switch to a substitute good if
the price of the good rises.
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4.00
3.50
Monopoly Outcome
3.00
ATC
2.50
Profit
2.00
1.50
Loss
MC
1.00
K 0.50
D
2.0
QUANTITY OF OUTPUT (Thousands of cans of beer)
0.5
1.0
1.5
2.5
3.0
35
4.0
Suppose that BYOB charges $2.75 per can. Your friend Musashi says that since BYOB is a monopoly with market power, it should charge a higher p
of $3.00 per can because this will increase BYOB's profit.
Complete the following table to determine whether Musashi is correct. If BYOB is suffering a loss, enter a negative value for profit.
Price
(Dollarc nor can)
Quantity Demanded
Total Revenue
Total Cost
Profit
nollare)
nallare)
IDallare-1
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DDI
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6.
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PRICE AND COST PER UNIT (Dollars per can)
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Government-imposed taxes cause reductions in the activity that is being taxed, which has important implications for revenue collections.
To understand the effect of such a tax, consider the monthly market for gin, which is shown on the following graph.
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One of the challenges of business—and life—is planning for an uncertain future. We introduced the concept of contingency planning previously in the course. In module 4, we discussed a related process—environmental scanning—and how to incorporate this concept into the strategic planning process. In this essay question, you will briefly summarize the PESTEL framework and develop a PESTEL analysis for a business of your choice.
Review the Common Frameworks for Evaluating the Business Environment section of your course.
Briefly (in one paragraph) summarize what the PESTEL framework is and why it matters.
Select a specific business or an industry that you are familiar with as a consumer/fan (i.e., sports team, musician, favorite retail establishment), employee or stock investor and develop a PESTEL analysis that includes at least 5 factors in each category: political, economic, social, technological, environmental and legal. Conduct additional research as needed to support your points.
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Homework (Ch 23)
Consider a simple economy that produces two goods: pens and muffins. The following table shows the prices and quantities of the goods over a three-
year period.
Pens
Muffins
Price
Quantity
Price
Quantity
Year
(Dollars per pen)
(Number of pens)
(Dollars per muffin)
(Number of muffins)
2018
1
150
160
2019
2
135
4
230
2020
110
4
165
Use the information from the preceding table to fill in the following table.
Nominal GDP
Real GDP
(Dollars)
(Base year 2018, dollars)
GDP Dėflator
Year
2018
2019
2020
72%
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2. Alternative price indexes
Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most balanced picture of how
prices fluctuate in the economy. Two of the most commonly used price indexes are the consumer price index (CPI) and the GDP deflator.
The GDP deflator for this year is calculated by dividing the
However, the CPI reflects only the prices of all goods and services
using
using
by the
and multiplying by 100.
Indicate whether each scenario will affect the GDP deflator or the CPI for the United States. Check all that apply.
Scenario
An increase in the price of a Smooth Streets Industries pothole puncher, which is commercial construction equipment
made in the U.S. but not bought by U.S.…
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Chapter 13 Homework
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In the following table, complete the marginal cost, average variable cost, and average total cost columns.
Quantity
(Vats of juice)
0
(Dollars)
Variable Cost Total Cost Marginal Cost
(Dollars)
(Dollars)
Average Variable Cost
(Dollars)
Average Total Cost
(Dollars)
0
30
8
38
2
18
48
3456
30
60
50
80
80
110
AAAAAA
120
150
A-Z
S
ccess
ccess
On the following graph, use the orange points (square symbol) to plot the marginal-cost curve for Eric's Juice Bar. (Note: Be sure to plot from left to
right and to plot between integers. For example, if the marginal cost of increasing production from 1 vat of…
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- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
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