Calculate the z-scores (to two decimal places) for each observation.Z1=Z2 =Z3 =Z4=Z5=Z6=Z7=- Z8 = 17. Does this sample conform to Chebyshev's Theorem? You will type your answer as anessay question in Canvas. Be sure to explain why or why not based on your answers to theprevious two questions.

Answered: Image /qna-images/answer/d70ccbfc-2562-48ee-afa3-cb8bea7e9172.jpg

Answered: Calculate the z-scores (to two decimal…

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter1: Introducing The Economic Way Of Thinking

Section1.A: Applying Graphics To Economics

Problem 7SQ

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Interpret the coefficients and calculate the price elasticity of soft drink demand.
Plot the logarithm of arrivals for each transportation mode against time, all on the same graph. Which now appears to be growing the fastest?
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 A4 Why is a bar chart the best way illustrate comparisons?
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?
Exercise D22 What should the government do to relieve inflationary pressures if the aggregate expenditure is greater than potential GDP?
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?
Exercise A2 What is slope on a line graph?
Exercise D10 Why are the investment function, the government spending function, and the export function all drawn as flat lines?
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?
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?
Logarithms are especially useful for comparing series with two divergent scales since 10 percent growth always looks the same, regardless of the starting level. When absolute levels matter, the raw data are more appropriate, but when growth rates are whats important, log scales are better.

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