A manager uses the SLR model to study the relationship between price (X)and weekly demand (Y) of a certain product. She finds evidence of a linearrelationship and wants an interval estimate for the mean weekly demandwhen the price is set at $25. We know:n = 5, X-bar = 20, sx² = 12.9, MSE = 12.3, and Y-hat = 100 - 3x2Use 3.2 as the critical value and find the margin of error (m.o.e.) for theinterval.(Show 1 decimal place.)

Here we are given that there is a valid linear relationship between X and Y So our margin of error…

Answered: A manager uses the SLR model to study…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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8. The Federal debt held by the public as a percent of the gross domestic product (GDP) is modeled by the function y = 0.00630t3 – 0.289t² + 4.00t + 25.3 where t is the time (in years) since 1980. Find the average public debt as a percent of GDP, from 2000 to 2015.
The demad function for A and B are as follows- **see picture** where qA and qB are the quantities of A and B demanded and pA and pB are the corresponding prices (in dollars) per unit.i. Find two marginal value for product A when pA = 10 and pB = 18.ii. If pB 16, with pA 10, use part (a) to estimate the corresponding change in the demand for product A.
Suppose demand is given by p = 1600 − x. Find the maximum revenue.
Describe the patterns in quantity sold and own and rival prices during this time period using basic descriptive statistics. Graphs are welcome as well. Take the logs of the variables, and estimate the demand function. Interpret the R-square. Interpret the coefficients for logP and logPsub Interpret the p-values associated with each independent variable Are consumers price sensitive? Why or why not? (be as precise as you can – you have estimates!). Does this price sensitivity make sense given the good we are examining? How sensitive are our consumers to changes in the rival good’s price? Explain in detail. Suppose we decide to charge a per ounce price of $2, while at the same time our rival charges a price of $2.15. All else equal, what would you expect sales to be? How confident are you in your forecast? Suppose we are charging a price of $2 and our current marginal cost is $1.50 Are we maximizing profits at this price? If not, should we raise or lower price? Why?
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23. Suppose that total national consumption is given by a function C(x)=200-0.6x – 0.05x06, where x is the total national income. a. Determine the marginal propensity to consume. b. Determine the marginal propensity to save.
Suppose Becky gets a sales bonus at her place of work that gives her an extra $400 of disposable income. She chooses to spend $300 and save the remaining $100. From this, you can tell that Becky's marginal propensity to consume (MPC) is0.75 , and her marginal propensity to save (MPS) is0.25 . Mathematically, it must always be true that: Saving = a. Disposable income+Comsumption b. Comsumption-Disposable income c. Disposable income-Consumption Therefore, it must also be true that: MPS = a. 1-MPC b. 1+MPC c. MPC
The weekly profit model has roots at X=−52.789, X=47.555, and X=202.944, rounded to 3 decimal places. The marginal weekly profit model has roots at X=−8.488 and X=140.295, rounded to 3 decimal places. A. What weekly production level will maximize profit? Round to 1 decimal place. _______ sleeping bags
REAL CONSUMPTION (Billions of dollars) REAL CONSUMPTION (Billions of dollars) The following graphs show an economy's initial position at point A along its consumption function (C). Suppose tensions in the Middle East lead to a rapid increase in the price of oil, which raises the general price level. On the graph, shift either the consumption curve or the initial point on the consumption function to show the impact of a rise in the price level (Note: In the scenario where the curve shifts, only shift the curve and do not adjust the position of the point.) REAL DISPOSABLE INCOME (Billions of dollars) Now suppose that disposable income suddenly and unexpectedly decreases. A On the following graph, shift either the consumption curve or the initial point on the consumption function to show the impact of a fall in disposable income. (Note: In the scenario where the curve shifts, only shift the curve and do not adjust the position of the point.) REAL DISPOSABLE INCOME (Billions of dollars) C

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