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- estimate this model: purchases = β0 + β1social + β2aggregator + β3substack1 Explain what is meant by heteroscedasticityNOMETRICS I| / My courses / Faculty Of Economics & Administrative Sciences / ECON309 / Finals/ ECON 309 Final Exam Assignm 15. Interpreting the intercept in a sample regression function is Oa. reasonable because under certain conditions the estimator is BLUE. of Ob. reasonalble if your sample contains values of Xi around the origin. tion Oc not reasonable because economists are interested in the effect of a change in X on the change in Y. d. not reasonable because you never observe values of the explanatory variables around the origin. Next page
- Force Completion This tesE Your answers are saved automatically. Remaining Time: 39 minutes, 44 seconds. v Question Completion Status: Moving to another question will save this response. Question 14 Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars Sold Trucks Sold Larry 10 joe 9 Ralph 12 Based on last month's data, should specialize in truck sales, and should specialize in car sales. O Joe: Ralph O Larry: Ralph O Larry: Joe O Ralph: Larry A Moving to another question will save this response. here to search 行6Exercise 1.9. The pivotal mechanism is used to decide whether a new park should be built. There are 5 individuals. According to the proposed project, the cost of the park would be allocated as follows: individual 1 2 3 4 5 share of cost C₁ = $30 C₂ = $25 C3 = $25 C4 = $15 С5 $5 1, For every individual i = perceived gross loss, if negative) from having the park built. The v/s are as follows: 5, let v, be the perceived gross benefit (if positive; individual 1 2 3 4 5 gross benefit V₁ = $60 V2= $15 V3 = $55 V4 = $-25 V5 = $-20 (Thus the net benefit (loss) to individual / is V, -C). Individual / has the following utility of wealth function (where m, denotes the wealth of individual 1): m₁ if the project is not carried out U₁ = m.+Vi if the project is carried out (Let m, be the initial endowment of money of individual / and assume that m is large enough that it exceeds c, plus any tax that the individual might have to pay.) (a) What is the Pareto-efficient decision: to build the park or…
- Brewed coffee is one of the most popular drinks in the world and a big market in Singapore. In recentyears Singaporean consumers have become concerned that coffee farmers often receive very lowprices by large coffee companies buying their beans and selling them in international markets. Forthis reason, fair trade coffee has reached supermarket shelves and coffee shops. Because producingfair trade coffee includes providing extra income for the farmers, this product is more costly to makethan other coffee types of comparable quality. Using the demand-supply model, analyse this changein consumer preferences. Examine the likely consequences in one or two markets of your choice. Limits 500 wordsFootball weights The Sears Cup was established in 1993to honor institutions that maintain a broad-based athleticprogram, achieving success in many sports, both men’sand women’s. Since its Division III inception in 1995, thecup has been won by Williams College in every yearexcept one. Their football team has a 85.3% winningrecord under their current coach. Why does the footballteam win so much? Is it because they’re heavier thantheir opponents? The table shows the average teamweights for selected years from 1973 to 1993.a) Fit a straight line to the relationship between Weightand Year.b) Does a straight line seem reasonable?c) Predict the average weight of the team for the year2003. Does this seem reasonable?d) What about the prediction for the year 2103? Explain.e) What about the prediction for the year 3003? Explain. Year Weight (lb) Year Weight (lb)1973 185.5 1983 192.01975 182.4 1987 196.91977 182.1 1989 202.91979 191.1 1991 206.01981 189.4 1993 198.7Explain the components that constitute aconceptual model of consumer behavior.