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- Compute the R² using the following information. What does this number mean? Wage = 4.43 +0.61Edu + e n = 1089, SST = 37211.6, SSE 37211.6, SSE 19848.2 R² = = = 0.4666. 46.66% of the variation in wage can be explained by education. R² = 0.5334. 53.34% of the variation in wage can be explained by education. R² = 0.61.61% of the variation in wage can be - explained by education. R² = 0.3043. 30.43% of the variation in wage can be explained by education.A merchant who sells newspapers and magazines at the corner kiosk heard you manage the Times’ inventory and asks for your advice. She has a small, variable number of customers who daily purchase the Chicago Sun Times. In order to get the newspapers in time, she has to place an order for the next day’s newspapers before noon. She pays $0.50 for each newspaper and sells them for $1.50 each. She has kept detailed records of her past sales of the Chicago Sun Times and estimates that 10% of the time she sells 10 newspapers, 40% of the time she sells 11, 30% of the time she sells 12, and 20% of the time she sells 13. (a) What is the merchant’s marginal profit and marginal loss? (b) Determine how many Chicago Sun Times newspapers she should buy every day to maximize expected profits. (c) Calculate the merchant’s expected profits for the optimal order quantity. (d) The merchant has always purchased 13 newspapers, thinking that the best way to maximize profits was to always meet the demand.…Due to the pandemic, the Malaysian government had announced total lockdown known as MCO in the country whereby everyone is required to (c) work from home until further notice. Lesser movements are allowed on the roads and the security is tight on this matter. Due to this scenario, there is a sudden increment of the birth rate in a small town in Seremban. It is almost double from previously. After 4 years, the birth rate is expected to normalize. Use demand and supply diagram to illustrate the effect of these events linking with the following statements. (i) The market for an hour of babysitting services in Seremban during the rise of birth rate. (ii) The market for an hour of babysitting services 20 years in the future, after the birth rate has been normalized. Assuming the children born today are old enough to work as babysitters. The market for an hour of babysitting services 30 years into the future, when children born today are likely to be having children of their own. (iii)
- Qstn 2. Maximize U= 2X1X2+X2 Subject to 100=P1Xi+P2X2.The difference equation given by A2yt+1 can be written as10.61 The per-store daily customer count (i.e., the mean number of customers in a store in one day) for a nationwide convenience store chain that operates nearly 10,000 stores has been steady, at 900, for some time. To increase the customer count, the chain is considering cutting prices for coffee beverages. The question to be determined is how much to cut prices to increase the daily customer count without reducing the gross margin on coffee sales too much. You decide to carry out an experiment in a sample of 24 stores where customer counts have been running almost exactly at the national average of 900. In 6 of the stores, the price of a small coffee will now be $0.59, in 6 stores the price of a small coffee will now be $0.69, in 6 stores, the price of a small coffee will now be $0.79, and in 6 stores, the price of a small coffee will now be $0.89. After four weeks of selling the coffee at the new price, the daily customer count in the stores was recorded and stored in . At the 0.05…
- Exercise Annika spends all of her income on golf and pancakes. Greens fees at a local golf course are $10 per round. Pancake mix is $2 per box. When Annika's income is $100 per week, she buys 5 boxes of pancake mix and 9 rounds of golf. When Annika's income rises to $120 per week, she buys 10 boxes of pancake mix and 10 rounds of golf. Based on these figures, determine whether each of the following statements is true or false, and briefly explain your reasoning 1. Golf is a normal good, and pancake mix is an inferior good 2. Golf is a luxury good 3. Pancakes are a luxury goodHead and spine injury, along with the long-term effects of concussion of football players, is a very controversial health issue. As a result, the news has been covering this health issue, with many headlines involving famous NFL players. It has been assumed that this has made most Americans that follow football more aware of the risks involved in playing the game. However, we have not seen a decline in the number of young boys, ages 8-10, that are joining football leagues. For this age group to take part in playing football, these young boys need to have the permission of a parent or guardian to play, which demonstrates the adults support to their participation. Given the risks to these young boy’s health, we wonder why would parents allow or even encourage their children to play football? Using what you know about qualitative research, briefly explain (one page): How would you design a qualitative research study, with the goal of gaining an understanding of why parents allow their…One example of a specific environmental indicator which can be used to measure the level of development within a country is, the tons of toxic that are released annually. True or false
- Suppose that you work for a U.S. senator who is contemplating writing a bill that would put a national sales tax in place. Because the tax would be levied on the sales revenue of retail stores, the senator has asked you to prepare a forecast of retail store sales for year 8, based on data from year 1 through year 7. The data are: (c1p2) Year Retail Store Sales 1 $1,225 2 1,285 3 1,359 4 1,392 5 1,443 6 1,474 7 1,467 54 Chapter One a. Use the first naive forecasting model presented in this chapter to prepare a forecast of retail store sales for each year from 2 through 8. b. Prepare a time-series graph of the actual and forecast values of retail store sales for the entire period. (You will not have a forecast for year 1 or an actual value for year 8.) c. Calculate the root-mean-squared error for your forecast series using the values for year 2 through year 7. 3. Use the second naive forecasting model presented in this chapter to answer parts (a) through (c) of Exercise 2. Use P 0.2 in…Consider the lottery that assigns a probability T of obtaining a level of consumption CH and a probability 1-T of obtaining a low level of consumption c, with CH > C1. Consider an individual facing such a lottery with utility function u(c) that has the properties that more is better (that is, a strictly positive marginal utility of consumption at all levels of c) and diminishing marginal utility of consumption, u"(c) < 0. As usual, we are using the shorthand u'(c) consumption and u"(c) = " = dư ( to be the second derivative of the utility function (which is also the derivative of the first derivative of the utility function). du(c) for the first derivative of the utility function with respect to dc du(c) dc2 du' (c) dcFind positive numbers x and y such that x + y = 72 and 6xy² is maximized.