Calculate each term using the binominal formula showing all steps involved for the following: = 1(1)(0.4)12 + 12(0.6)(0.4)11 + 66(0.6)2(0.4)10 = (0.40)(0.40)12 + (7.2)(0.40)11+ (23.76)(0.40)10
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Calculate each term using the binominal formula showing all steps involved for the following:
= 1(1)(0.4)12 + 12(0.6)(0.4)11 + 66(0.6)2(0.4)10
= (0.40)(0.40)12 + (7.2)(0.40)11+ (23.76)(0.40)10
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- Savings-Mart (a chain of discount department stores) sells patio and lawn furniture. Sales are seasonal, with higher sales during the spring and summer quarters and lower sales during the fall and winter quarters. The company developed the following quarterly sales forecasting model: Y t=8.25+0.125t2.75D1t+3.50D3t where Y t=predictedsales(million)inquartert 8.25=quarterlysales(million)whent=0 t=timeperiod(quarter)wherethefourthquarterof2002=0,firstquarterof2003=1,secondquarterof2003=2,... D1t={1forfirst-quarterobservations0otherwiseD2t={1forsecond-quarterobservations0otherwiseD3t={1forthird-quarterobservations0otherwise Forecast Savings-Marts sales of patio and lawn furniture for each quarter of 2010.Exercise A5 How does the appearance of positive slope differ from negative slope and from zero slope?The forecasting staff for the Prizer Corporation has developed a model to predict sales of its air-cushioned-ride snowmobiles. The model specifies that sales S vary jointly with disposable personal income Y and the population between ages 15 and 40, Z, and inversely with the price of the snowmobiles P. Based on past data, the best estimate of this relationship is S=kYZP where k has been estimated (with past data) to equal 100. If Y=11,000,Z=1,200, and P=20,000, what value would you predict for S? What happens if P is reduced to $17,500? How would you go about developing a value for k? What are the potential weaknesses of this model?
- Metropolitan Hospital has estimated its average monthly bed needs as N=1,000+9X where X=timeperiod(months);January2002=0 N=monthlybedneeds Assume that no new hospital additions are expected in the area in the foreseeable future. The following monthly seasonal adjustment factors have been estimated, using data from the past five years: Forecast Metropolitans bed demand for January, April, July, November, and December 2007. If the following actual and forecast values for June bed demands have been recorded, what seasonal adjustment factor would you recommend be used in making future June forecasts?Exercise A1 Name three kinds of graphs and briefly state when is most appropriate to use each type of graph.Exercise B5 How can you tell which indifference calves represent higher or lower levels of utility?
- Exercise B2 Why do indifference curves slope down?Exercise D21 What are some reasons that the economy might be in a recession, and what is the appropriate government action to alleviate the recession?Estimate the double-log (log linear) time trend model for log cruise ship arrivals against log time. Estimate a linear time trend model of cruise ship arrivals against time. Calculate the root mean square error between the predicted and actual value of cruise ship arrivals. Is the root mean square error greater for the double log non-linear time trend model or for the linear time trend model?
