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- The Margan Co makes two products: tables and chairs, which must be processed through assembly and finishing department. Assembly department is available for 60 hours in every production period, while the finishing department is available for 48 hours of work. Manufacturing one table requires 4 hours in the assembly and 2 hours in the finishing. Each chair requires 2 hours in the assembly and 4 hours in the finishing. One table contributes Php180 to profit, while chair contributes Php100. The problem is to determine the number of tables and chairs to make per production period in order to maximize the profit.Provide an evaluation of the size of the explanatory variables’ coefficients and their statistical significancein Table 5.33. Consider an expected utility maximizer whose utility function is U(w), where w denotes wealth, expressed in dollars. Suppose that U(0) = 0 and U(1,000, 000) = 1. Further suppose that the individual is indifferent between having w = 200, 000 for sure or a gamble in which w = 0 with probability .4 and w = 1,000, 000 with probability .6. For this individual, U(200, 000) is %3D
- What is this equation used for? What do the variables mean? Can you give an example how a research study can be applied to this formula? Does it account for control variables ?1 3 8. 12 12 y 11 17 18 19 16 16 19 23 23 Ex^2 = Your answer Ey^2 = * Your answer Σxy=_ Your answerGive an example of a kind of sampling error you might see in a poll besides random sampling error
- 5- zero correlation does not necessarily imply independence between the two variables. This statement is Please select one; a) true www b) depends on mean value of X and Y c) depends on r wwww w d) falseY = AK1/3L2/3; Y = 30, K = 10, L = 20. The TPF is A. 1.89 B. 0.89 C. 1.27 D. 1.05If the price of ice cream increases from $8 to $10 a gallon, quantity demanded of frozen yogurt increases from 120 to 138 gallons, ceteris paribus. As a result, the percentage change in the price of ice cream is 0.2222 % 22.22 % -0.2222 % O-22.22%
- Given the following: 3 y = (e³)2 This can also be written as: y = e1. A Travel-Cost Method Now it is time for your first consulting job as an environmental economist. The Forest Service would like to know whether they should preserve some national forest land, previously slated to be logged, for hiking. You are helping do a travel-cost analysis to estimate the annual benefits of hiking in this area. Survey data has been gathered from 500 hikers who visited the forest last year. This forest did not charge an entrance fee. Using a statistical technique called regression analysis, you have controlled for differences in income, employment status, age, and other important factors that might affect the number of hiking trips taken. Taking these factors into account, you have developed the following relationship: Zone 1 2 3 Population in zone 1,000 3.000 2,000 Cost Per Hiking Trip Per Person 20 40 80 Hiking Trips Taken Per Zonal Person Per Year 8 6 2 where cost includes gas, tolls, fares, hotels, entry fees, and the value of time spent traveling. a. Graph a…