High and Low dataHigh(x)36289483696266564130295846437088805588Low(y)22227471554545413321184536334573763871High(x)38616165873387385271345560388227475181Low(y)28414651792368344148244252257815343964n The accompanying data gives the high and low temperatures in January for a random sample of 50 cities.a. Decide whether use of the linear correlation coefficient as a descriptive measure for the data isappropriate.b. If appropriate, obtain the linear correlation coefficient.c. If appropriate, interpret the value of r in terms of the linear relationship between the two variables.Click the icon to view the High and Low data values.a. The linear correlation coefficient as a descriptive measure for the dataappropriate becauseb. Select the correct choice and, if necessary, fill in the answer box to complete your choice.OA. The linear correlation coefficient is(Round to three decimal places as needed.)O B. The linear correlation coefficient as a descriptive measure for the data is not appropriate.c. Choose the correct answer below.O A. There appears to be a strong negative linear association between the two variables.OB. There appears to be a weak negative linear association between the two variables.O C. There appears to be a strong positive linear association between the two variables.O D. There appears to be a weak positive linear association between the two variables.O E. The linear correlation coefficient as a descriptive measure for the data is not appropriate.

High Low 36 22 28 22 94 74 83 71 69 55 62 45 66 45 56 41 41 33 30 21 29 18…

High (x) 36 28 94 83 69 62 66 56 41 30 29 58 46 43 70 88 80 55 88 Low (y) 2011902280 0 22 22 74 1 55 45 45 71 41 33 21 18 45 36 33 45 73 76 38 71 High (x) 38 61 61 65 87 33 87 38 52 71 34 55 60 38 82 27 47 51 81 Low (y) 28 41 46 51 79 23 68 34 41 48 24 42 52 25 78 15 34 39 64

High (x) 36 28 94 83 69 62 66 56 41 30 29 58 46 43 70 88 80 55 88 Low (y) 2011902280 0 22 22 74 1 55 45 45 71 41 33 21 18 45 36 33 45 73 76 38 71 High (x) 38 61 61 65 87 33 87 38 52 71 34 55 60 38 82 27 47 51 81 Low (y) 28 41 46 51 79 23 68 34 41 48 24 42 52 25 78 15 34 39 64

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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5. (5 points 654 Price and cost (dollars) B 10 SMC MR E 300 340 200 ATC Quantity The above graph is for a monopoly firm. The curve labelled "SMC" is the Marginal Cost curve, D Demand curve and MR Marginal Revenue curve, ATC average total cost curve. (a) What is the profit maximizing price and output? (b) At the profit maximizing price and output what is the average total cost? (c) At the profit maximizing price and output what is the amount of profit (in dollars) earned by this firm? Please show your calculations.
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W ECON 2100 Compatibility Mode Home Insert Draw Design Layout References Mailings Review View Share O Comments 2. Line D represents the market demand curve for polo shirts; if the polo shirt market is perfectly competitive and MC represents the market supply curve. But if the shirts are produced by a single monopoly firm, MR represents the marginal revenue curve for a monopolist producer of polo shirts and MC represents the marginal cost curve for that monopolist. 48 44 40 36 32 MC 28 20 16 12 8 4 MR 4 12 16 20 24 28 32 36 40 44 48 Quantity of Polo shirts a. If the polo shirts are supplied by a perfectly competitive industry, what will be the output and price? (Please explain your answer.) b. If the polo shirts are supplied by a monopoly, what will be the output and price that the monopoly would choose? (Please explain your answer.) c. Please show on the graph the dead weight loss associated with monopoly price/quantity outcome? Page 2 of 4 639 words English (United States) Focus +…
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5. What will be the quantity demanded by country 1 from the rest of the world at a price of 2? (a) 6 (b) 9 (c) 12 (d) 18
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Question Completion Status: 360 370 Quantity Produced 0 1 2 QUESTION 5 3 4 45 D 5 60 380 390 400 410 420 5 16 C 7 8 b. $565 c. $1000 d. $435 Total Cost $100 $140 $184 $230 $280 $335 $395 $475 $575 8C Table 15-21 Tommy's Tie Company, a monopolist, has the following cost and revenue information. Assume that Tommy's is able to engage in perfect price discrimination. COSTS REVENUES Marginal Cost 0 1 2 3 4 5 90 440 Quantity Demanded 6 7 10 110 8 450 46 47 48 49 50 120 130 140 150 160 170 180 190 Price $170 $160 $150 $140 $130 $120 $110 $100 $95 20 Total Marginal Revenue Revenue 210 226 Refer to Table 15-21. If the monopolist can engage in perfect price discrimination, what is total profit at the profit-maximizing quantity? a. $325 26
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