Using the data in the table below, estimate the demand function for cod.Price, dollars per pound1.901.351.251.200.950.850.73Using the Excel trendline option to estimate a linear demand function, the linear demand function isQ = 12.53-6.25p.Suppose the quantity in the first row of the table were 2 instead of 1.5.The linear demand function would now beQuantity, thousand pounds per day1.52.24.45.96.57.08.8Q = 11.75 5.86 p. (Enter your responses rounded to two decimal places.)Suppose the quantity in the second row of the table were 3.2 instead of 2.2.The linear demand function would now beQ=·Pp. (Enter your responses rounded to two decimal places.)

The question is about regression analysis.The given data are,Price, dollars per poundQuantity,…

Answered: Using the data in the table below,…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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The following table shows worldwide sales of a certain type of cell phone and their average selling prices in 2013 and 2017. Year 2013 2017 Selling Price ($) 335 225 Sales (millions) 1,010 2,110 (a) Use the data to obtain a linear demand function for this type of cell phone. q(p) =
The daily demand price function of selling x units of a product is given by p 100 - 4x. What is the maximum revenue? Select one: O a. $12.5 O b. $625 O c. $10000 O d. $6250 Clear my choice
27. Which of the contexts below could be modeled by a linear function? A. A car depreciates at a rate of 9.5% per year. B. A coin collection appreciates at a rate of 16% per year. C. An elevator descends at a rate of 32 feet per second. D. The amount of a certain medication in a person's bloodstream decreases by every hour.
The growth rate of the speed of sound in relation to the temperature in degrees Fahrenheit is a linear function. The speed of sound at 0 degrees Fahrenheit is 1052.3 feet per second. For every 1 degree Fahrenheit rise in temperature, the speed of sound increases by 1.1 feet per second. A. Identify the initial value of linear function that gives the speed of sound in terms of temperature. B. A 20 degree Fahrenheit rise in temperature would provide what increase in the speed of sound? C. What would the speed of sound be after a 67 degree Fahrenheit rise in temperature?
If the market price of a product is above the equilibrium price, the quantity supplied is _____ the quantity demanded. equal to Market price and quantity supply are not related. greater than less than
Fill in the blanks in the following table. Round your answers to 2 decimal places.
Describe the patterns in quantity sold and own and rival prices during this time period using basic descriptive statistics. Graphs are welcome as well. Take the logs of the variables, and estimate the demand function. Interpret the R-square. Interpret the coefficients for logP and logPsub Interpret the p-values associated with each independent variable Are consumers price sensitive? Why or why not? (be as precise as you can – you have estimates!). Does this price sensitivity make sense given the good we are examining? How sensitive are our consumers to changes in the rival good’s price? Explain in detail. Suppose we decide to charge a per ounce price of $2, while at the same time our rival charges a price of $2.15. All else equal, what would you expect sales to be? How confident are you in your forecast? Suppose we are charging a price of $2 and our current marginal cost is $1.50 Are we maximizing profits at this price? If not, should we raise or lower price? Why?
If actual period demand varies from the forecast by more than 3MAD, this indicates: there is 3% chance that the forecast is wrong. there is a 98% chance that the forecast is wrong. there is a 97% chance that the forecast is wrong. there is a 3% chance that the forecast is correct Moving to the next question prevents changes to this answer:
Complete the following table and draw a graph showing how bond price for each bond changes over time as they move towards their maturity dates. Describe the relationship between bond prices and time remaining for maturity. Using the table below show all the calculations for every bond prices calculated Years remaining to maturity BOND A Coupon rate = 8% p.a. Market interest rate = 6% p.a. BOND B Coupon rate = 6% p.a. Market interest rate = 6% p.a. BOND C Coupon rate = 4% p.a. Market interest rate = 6% p.a. 10 9 8 7 6 5 4 3 2 1 0
Student Loans Data for selected years from 2011and projected to 2023 can be used to show that thebalance of federal direct student loans y, in billions ofdollars, is related to the number of years after 2010,x, by the function y = 130.7x + 699.7.a. Graph the function for x-values corresponding2010 to 2025.b. Find the value of y when x is 13.c. What does this function predict the balance offederal direct student loans will be in 2029?(Source: U.S. Office of Management and Budget)
A software entertainment company recently ran a holiday sale on its popular software program. Using data collected from the sale, it is possible to estimate the demand corresponding to various discounts in the price of the software. Assuming that the original price was $36, the demand for the software can be estimated by the function -2.504 q=3,742,000p the elasticity of demand. where p is the price and q is the demand. Calculate and interpret What formula should be used to compute the elasticity of demand, E, if q is demand at a price p? O A. E= P dp dq b. P dq q dp. O B. E= - C. E=p dq O D. E=q dp
The rent for tenants in a building in 1940 was $30 per month. The landlord changes the rent based on the CPI-U. Use the CPI-U chart below to calculate the current rent in 2019. Round to the nearest dollar. Year CPI-U 1940 14.0 1949 23.8 1983 99.6 2000 172.2 2005 195.3 2009 214.5 2014 236.0 2017 245.1 2019 255.7 2020 258.8

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