**Input-Output Analysis of a National Economy**Below is a simplified input-output matrix representing the relations among three sectors of a national economy: Agriculture, Manufacturing, and Households.| | Agriculture | Manufacturing | Households ||----------------|-------------|---------------|------------|| **Agriculture** | 0.245 | 0.102 | 0.051 || **Manufacturing** | 0.099 | 0.291 | 0.279 || **Households** | 0.433 | 0.372 | 0.011 |**Section A**- ________ (fill in) units of Households are needed to produce one unit of Manufacturing.**Section B**Given the demand (in billions of dollars) for the sectors:- Agriculture: $3.4 billion- Manufacturing: $31 billion- Households: $34 billionCalculate the amount of each commodity that should be produced (rounded to the nearest 0.1 billion).- ________ = Agriculture- ________ = Manufacturing- ________ = Households**Section C**If the external demand for Households increases by $1 billion, manufacturing production needs to rise accordingly. Determine by how much manufacturing should increase (to the nearest 0.01 billion) to meet this growth in household demand.- Manufacturing increase: $________ billion This analysis helps understand how changes in one sector affect others, essential for economic planning and forecasting.

Answered: Image /qna-images/answer/54277795-d53c-497a-a91b-9b458447131d.jpg

Answered: A simplified version of input-output…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Freight Crate Inc. produces small, medium, and large shipping crates used by a variety of clients and companies. Each month, Freight Crate produces and ships it's own (empty) containers out to its distributor to be sold. Data on the shipping containers' weights and costs are given in the table below: Small Medium Large Weight (lbs per container) 20 44 80 Cost to Produce (per container) $20 $40 $100 A shipment of containers must adhere to an imposed weight limit of 9,664 lbs. Furthermore, pre- vious sales data suggest that Freight Crate should produce twice as many medium containers as large containers. The company hopes to determine the total of each type of container to produce on a monthly shipping budget of $10,300. Define x, y, and z to be the total number of small, medium, and large containers produced montly, respectively.
This exercise requires the use of technology.Four sectors of the U.S. economy are (1) livestock and livestock products, (2) other agricultural products, (3) forestry and fishery products, and (4) agricultural, forestry, and fishery services. Suppose that in 1977 the input-output table involving these four sectors was as follows (all figures are in millions of dollars).Determine how these four sectors would react to an increase in demand for livestock (Sector 1) of $1,000 million, how they would react to an increase in demand for other agricultural products (Sector 2) of $1,000 million, and so on. (Round your answers to two decimal places. Let the columns of the matrix be given in millions of dollars.) To 1 2 3 4 From 1 11,937 9 109 855 2 26,649 4,285 0 4,744 3 0 0 439 61 4 5,423 10,952 3,002 216 Total Output 97,795 120,594 14,642 47,473
ABC Corporation is considering three options for managing its data processing operation: continuing with its own staff, hiring an outside vendor to do the management (referred to as outsourcing), or using a combination of its own staff and an outside vendor. The profit of the operations depends on future demand. The annual profit of each option (in thousands of dollars) and for each state of demand is summarized in the following table: Staffing Options Own Staff Outside Vendor Combination High 650 900 800 Demand Medium 650 600 650 Low 600 300 400 1. If the manager of ABC Corporation is optimistic, which staffing option will he/she choose? 2. If the manager of ABC Corporation is conservative, which staffing option will he/she choose? 3. Suppose the probabilities of high, medium, and low demand are 40%, 10% and 50%, respectively. Using the expected value approach, which staffing option should the manager choose? 4. What is the expected value of perfect information?
Part 3
An economy is based on three sectors-agriculture, manufacturing, and services. For each unit of output, agriculture requires inputs of 0.30 unit from agriculture, 0.30 unit from manufacturing, and 0.30 unit from services. For each unit of output, manufacturing requires inputs of 0.30 unit from agriculture, 0.20 unit from manufacturing, and 0.20 unit from services. For each unit of output, services requires 0.20 unit from agriculture, 0.30 unit from manufacturing, and 0.30 unit from services. Determine the production levels needed to satisfy a final demand of 0 units for agriculture, 50 units for manufacturing, and 0 units for services. The production level needed from the agricultural sector is units. (Do not round until the final answer. Then round to two decimal places as needed.)
Table 1: Vehicles Engine size Number Vehicle City MPG Hwy MPG Model Model Cylinders Transmission Fuel of gears Class Year ACURA small 3.5 Automatic 6 Gasoline 19 28 2010 RDX SUV HYUNDAI 1.6 4 Manual 7 Gasoline | large car 28 38 2015 Sonata Small Ford Fiesta 1.6 4 Manual Gasoline 28 36 2006 car DODGE midsize 6.4 8 Automatic 8 Gasoline 14 25 2010 Challenger car BMW X5 standard 3 6 Automatic 8 Gasoline 18 24 2013 xDrive35i SUV HONDA midsize 3.5 6 Automatic 6. Gasoline 21 32 2014 Accord car LAND ROVER standard 3 6. Automatic 8 Diesel 22 29 2008 Range SUV Rover BENTLEY midsize 6.8 8 Automatic 8 Gasoline 11 18 2012 Mulsanne car MAZDA small 2.5 Automatic 6 Gasoline 24 30 2013 CX-5 SUV PORSCHE small Cayman 3.4 6. Manual 6. Gasoline 19 26 2015 car GTS la) How many variables are listed in table 1? Classify the variables according to their types (Qualitative / Quantitative). i. ii.
3. Suppose you find yourself in this situation. One time you want to buy a light bulb.There are three brands of light bulbs that you know. Knowing that the longer the lightbulb lasts, the more you save. Your experience of buying the different brands of light isthe basis. The data are as follows: BRAND K: The light bulb lasted for 4.5 months, 3.5 months, 5.5 months, 2.5 months,6,5 months, 2 months, and 7 months.Brand A: The light bulb lasted for 4.5 months, 3.5 months, 5.5 months, 2.5 months, 6.5months, 2 months, 7months, 4.5 months and 4.5 months. BRAND J: The light bulb lasted for 4.5 months, 3.5 months, 5.5 months, 2.5 months, 6.5months, 2months, 7 months, 8 months and 1 month.If the light bulbs have the same price, which brand of light will you buy? Justify youranswer by using the statistical measures. Tabulate your solutions.
Find the production schedule for the technology matrix and demand vector given below:
A local firm is planning its workforce and production levels over the next year. The firm makes a variety of microprocessors and uses sales dollars as its aggregate production unit. Based on orders received and sales forecasts provided by the marketing department, the estimate of dollar sales for the next year by month is as follows: Month Production Days Predicted Demand(in $10,000) Month Production Days Predicted Demand(in $10,000) January 20 595 July 20 410 February 19 225 August 21 130 March 22 565 September 19 405 April 18 205 October 23 315 May 21 230 November 21 355 June 22 120 December 18 350 Inventory holding costs are based on a 25% annual interest charge. It is anticipated that there will be 675 workers on the payroll at the end of the current year and inventories will amount to $120,000. The firm would like to have at least $100,000 of inventory at the end of December…
Find the production schedule for the technology matrix and demand vector given below: 0.1 0.3 0.4 4 A = 0.1 0.2 0.4 D = 5 %3D 0.1 0.1 3 X =
Part 2 please

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