(i) The sale of houses in an area (S) depends on the level of per capita income of people in that arca (1), the population of the area in "000s(po), property tax (tx) in % and an index value of property price in that area (P). The relationship of dependant and independent variables (Dv& IV) is given by the following function (derived by running multiple repression on last 2 years data):S= 2100 + 0.20 I + 8 po - 23 tx - 2.75 Pa) If the current level of IVs is given by: I= 33,000; po = 48,000; tx = 12% and P= 32, then what is the sale quantity that can be expected?b) If all IVs remain at same level, while only Pchanges to 28, what will be new quantity of houses sold?(ii) You are surveying a sample of college students for understanding their food habits. What care will you take while asking questions?Identify one such consideration.(iii) For a given multiple regression exercise, in which manager wanted to find the relationship of firm's sales of a zone (dependent variable)with another influencing variable, namely, average income in the zone, he gets R value = 0.95.Questions: (a) What does the R value signify to the manager?(b) What is the direction of the relationship between the dependent and independent variables?

(i) Given that Sale of house in a area is given by S=2100+0.20 I+8 po-23 tx-2.75 P I=per capita…

Answered: (1) The sale of houses in an arca (S)…

Calculus: Early Transcendentals

8th Edition

ISBN:9781285741550

Author:James Stewart

Publisher:James Stewart

Chapter1: Functions And Models

Section: Chapter Questions

Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...

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The value of the Conference Board Index of 10 economic indicators in the United States could be approximated by the following function of time in months since the end of December 2002. Jo.se + 150 fosts 15 -0.21 160.5 i 15
how to measure unemployment rates using descriptive statics and central limit theorem ?
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