Regression StatisticsMultiple R0.70955R Square0.503461Adjusted RSquare0.410359Standard Error2.130054Observations20ANOVASignificancedfMSFRegression373.60593 24.53531 5.407670.0092117Residual1672.59407 4.537129Total19146.2StandardErrorCoefficientst StatP-valueLower 95% Upper 95%Intercept48.630816.3247384 7.6889849.2E-0735.222968 62.038661Price of Coke-0.30350.1711745 -1.77307 0.09525-0.6663779 0.0593694Ad Expenditure0.3429370.1655882 2.071021 0.05489-0.0080947 0.6939678Pepsi Price0.234060.1393504 1.679653 0.11244 -0.0613493 0.52946991. Find and Interpret Adjusted Coefficient of Determination, Adjusted R, and theCorrelation Coefficient, R.2. The ANOVA table gives the F statistic for testing the claim that there is nosignificant relationship between your all of your independent and dependentvariables. The sig. value is your p value. Using p-value decide you should Rejector Accept claim.3. Write the Fitted Regression line from the results?4. Decide about significance using the p-value.Q4.(A)The Accuweather Corporation manufactures barometers and thermometers for weatherforecasters. In an attempt to forecast its future needs for mercury, Accuweather's chiefeconomist estimated average monthly mercury needs as:N = 500 + 10Xwhere N = monthly mercury needs (units) and X = time period in months (January 2008=0). The following monthly seasonal adjustment factors have been estimated using datafrom the past five years:MonthJanuaryAprilAdjustment Factor15%10%JulySeptemberDecember-20%5%-10%(a) Forecast Accuweather's mercury needs for January, April, July, September, andDecember of 2010.(b) The following actual and forecast values of mercury needs in the month ofNovember have been recorded:YearActualForecast480200820094563243602007240240 TC = 3 + Q + 0.25Q? Use these two functions to form the firm's profit function andthen determine the level of output that yields the profit maximum. What is the levelof profit at the optimum?Q2.Q 2.(A)The monthly supply of desktop personal computers is given by the equation Qs =15,000 + 43.75P. At a price of $800, what is the price elasticity of supply?Q2.Q 2.(B)The British Automobile Company is introducing a brand new model called the"London Special." Using the latest forecasting techniques, BAC economists havedeveloped the following demand function for the "London Special":Qp = 1,200,000 - 40Pa) What is the point price elasticity of demand at prices of (a) $8,000 and (b) $10,000?b) Is it Elastic, Unit Elastic or Inelastic, Explain why?Q 3.(A)Phoenix Lumber Company uses the number of construction permits issued to help estimatedemand (sales). The firm collected the following data on annual sales and number ofconstruction permits issued in its market area:No. of ConstructionPermits Issued (000) (1,000,000)SalesYear20036.506.2010.3010.10200410.5010.8011.2011.4020056.602006200720087.307.808.2020098.3011.30(a) Which variable is the dependent variable and which is the independent variable?(b) Determine the estimated regression line.(c) Calculate the coefficient of determination. Give an economic interpretation tothe value obtained.(d) Suppose that 8,000 construction permits are expected to be issued in 2010.What would be the point estimate of Phoenix Lumber Company's sales for2010?LQ 3.(B)Following output for the multiple regression problem shows results as results.SUMMARY OUTPUTRegression StatisticsMultiple R0,70955R Square0.503461Adjusted RSquare0.410359Standard Error2.130054Observations20ANOVASignificancee

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MATLAB: An Introduction with Applications

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ISBN:9781119256830

Author:Amos Gilat

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Section: Chapter Questions

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Regression Statistics
Multiple R
0.70955
R Square
0.503461
Adjusted R
Square
0.410359
Standard Error
2.130054
Observations
20
ANOVA
Significance
df
MS
F
Regression
3
73.60593 24.53531 5.40767
0.0092117
Residual
16
72.59407 4.537129
Total
19
146.2
Standard
Error
Coefficients
t Stat
P-value
Lower 95% Upper 95%
Intercept
48.63081
6.3247384 7.688984
9.2E-07
35.222968 62.038661
Price of Coke
-0.3035
0.1711745 -1.77307 0.09525
-0.6663779 0.0593694
Ad Expenditure
0.342937
0.1655882 2.071021 0.05489
-0.0080947 0.6939678
Pepsi Price
0.23406
0.1393504 1.679653 0.11244 -0.0613493 0.5294699
1. Find and Interpret Adjusted Coefficient of Determination, Adjusted R, and the
Correlation Coefficient, R.
2. The ANOVA table gives the F statistic for testing the claim that there is no
significant relationship between your all of your independent and dependent
variables. The sig. value is your p value. Using p-value decide you should Reject
or Accept claim.
3. Write the Fitted Regression line from the results?
4. Decide about significance using the p-value.
Q4.
(A)
The Accuweather Corporation manufactures barometers and thermometers for weather
forecasters. In an attempt to forecast its future needs for mercury, Accuweather's chief
economist estimated average monthly mercury needs as:
N = 500 + 10X
where N = monthly mercury needs (units) and X = time period in months (January 2008=
0). The following monthly seasonal adjustment factors have been estimated using data
from the past five years:
Month
January
April
Adjustment Factor
15%
10%
July
September
December
-20%
5%
-10%
(a) Forecast Accuweather's mercury needs for January, April, July, September, and
December of 2010.
(b) The following actual and forecast values of mercury needs in the month of
November have been recorded:
Year
Actual
Forecast
480
2008
2009
456
324
360
2007
240
240

Transcribed Image Text:TC = 3 + Q + 0.25Q? Use these two functions to form the firm's profit function and then determine the level of output that yields the profit maximum. What is the level of profit at the optimum? Q2. Q 2. (A) The monthly supply of desktop personal computers is given by the equation Qs = 15,000 + 43.75P. At a price of $800, what is the price elasticity of supply? Q2. Q 2. (B) The British Automobile Company is introducing a brand new model called the "London Special." Using the latest forecasting techniques, BAC economists have developed the following demand function for the "London Special": Qp = 1,200,000 - 40P a) What is the point price elasticity of demand at prices of (a) $8,000 and (b) $10,000? b) Is it Elastic, Unit Elastic or Inelastic, Explain why? Q 3. (A) Phoenix Lumber Company uses the number of construction permits issued to help estimate demand (sales). The firm collected the following data on annual sales and number of construction permits issued in its market area: No. of Construction Permits Issued (000) (1,000,000) Sales Year 2003 6.50 6.20 10.30 10.10 2004 10.50 10.80 11.20 11.40 2005 6.60 2006 2007 2008 7.30 7.80 8.20 2009 8.30 11.30 (a) Which variable is the dependent variable and which is the independent variable? (b) Determine the estimated regression line. (c) Calculate the coefficient of determination. Give an economic interpretation to the value obtained. (d) Suppose that 8,000 construction permits are expected to be issued in 2010. What would be the point estimate of Phoenix Lumber Company's sales for 2010? L Q 3. (B) Following output for the multiple regression problem shows results as results. SUMMARY OUTPUT Regression Statistics Multiple R 0,70955 R Square 0.503461 Adjusted R Square 0.410359 Standard Error 2.130054 Observations 20 ANOVA Significance e

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