Your company just became international by offering Its products in both the United States and Canada. Experts in your analyticsdepartment belleve that tastes for your product differ In those two countries, and have carefully collected data on prices and quantitydemanded in both countries. They then present you with the results of two regressions, one for each country, as follows:Log Price regressed on Log Quantity (United States):StandardError10.81051303Coefficientst statP-valueInterceptLog QuantityLower 95%31.48708283-7.685279168Upper 95%74.023970552.755739944.88040363-4.5979320391.67605E-066.15253E-06-5.382266173 1.17e5841es-3.079253177Log Price regressed on Log Quantity (Canada):StandardError10.64507785CoefficientsInterceptLog Quantity22.8707593-2.09578827st stat2.148482109-1.818112644 0.069981782P-value0.0324256e3Lower 95%1.9275se2upper 95%43.81393840.172093361.152727409-4.363669916Assume you have adequate statistical significance for both Inverse demand curves, and suppose your marginal costs are $20. What isthe profit maxtmızing price you should charge in each country?Instruction: Round your answers to the nearest penny.United States: $Canada: $

We have to find profit maximizing price for United States and Canada

Answered: Your company just became international…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

What are the Standard Errors for Fixed Effects Regression?
If a scatterplot is created in excel, and a line of regression is fit along with a derived functional form, what does it mean to describe and interpret them? What conclusions would be made about relationships between two recorded variables?
Low-Density Lipoprotein (or LDL) is considered the "bad" cholesterol because it forms plaques in arteries, raising the risk for heart attack and stroke. Suppose you are interested in predicting LDL (in mg/dL) using one's age (in years). Assume that LDL levels and age are normally distributed and that the correlation between the two variables is 0.534. Based solely on the regression effect, a person whose age is at the 60th percentile is predicted to have an LDL level ____. [Source: Ldl cholesterol: Definition, risks, and how to lower it. (2020, March 09). Retrieved from https://www.webmd.com/heart-disease/ldl-cholesterol-the-bad-cholesterol] Question 4 options: A) above the 60th percentile B) exactly at the 60th percentile C) exactly at the 40th percentile D) I need more information to answer this E) below the 60th percentile
The Conde Nast Traveler Gold List for 2012 provided rating for the top 20 small cruise ships. The data from annual Readers’ Choice Survey are the overall scores(Y) each ship received based on several criteria, including Itineraries/Schedule (X1), Shore Excursions(X2), and Food/Dinning(X3). The estimated regression equation to predict the overall scores is Y= 35.6184+0.1105 X1+0.2445 X2+0.2474 X3. Part of the regression results is shown below. Coefficients Standard Error Intercept 35.6184 13.2308 Itineraries/Schedule(X1) 0.1105 0.1297 Shore Excursions(X2) 0.2445 0.0434 Food/Dinning(X3) 0.2474 0.0621 Use the T test to determine whether or not the coefficient of X1 is significant. Use Level of significance=.05? Be sure to state null and alternative hypotheses.…
None
A researcher plans to study the causal effect of police on crime using data from a random sample of U.K. counties. He plans to regress the county’s crime rate on the (per capita) size of the county’s police force. Explain why this regression is likely to suffer from omitted variable bias. Which variable would you add to the regression to controlfor important omitted variable? Determine whether the regression will likely over or underestimate the effect of police on the crime rate?
I recently asked this question and was wondering if you could show me how to do it, not just putting it in a caculator or excel but written out equations and seeing my information plugged in so I can understand. Thank you. Calculate the simple linear regression to determine if the amount of time spent on homework can be predicted by amount of sleep. Graph the relationship and determine, numerically, if there are any outliers. Interpret all results in a paragraph citing the appropriate statisitcs.
A rural state wants to encourage high school graduates to continue their education and attend college. The state collected information on a random sample of high school seniors from across the state 7 years ago and is now observing how many years of education they completed. They believe students decide to achieve more education when they are more capable, have easier access to college education, and the opportunity cost of attending are lower. To explore the factors that affect the years of education completed they have used multiple regression to estimate the years of completed education as a function of: Unemployment rate - the unemployment rate in the county (3.9 – 16.8) County Hr Wage - average starting hourly manufacturing wage in the county Test - student score on college admission test (0 to 100 scale) Dist to college - Distance to near college (measured in 100’s of miles) Tuition - Tuition charged at nearest state university (measured in $1000s)…
Define Residuals or errors in Alternative Regression Models?
Discuss how the coefficient of determination and the coefficient of correlation are related and how they are used in regression analysis to provide examples to illustrate your understanding of these concepts.
Study conductes in patients with HIV. Primary outcome is CD4 coubt(measure stage of disease). Lower CD4=more advanced disease. Wqnt to find association between taking vitamins and supplements and CD4 count. Multiple regression analysis done relating CD4 to use of supplements (1=yes 0=no) and to duration of HIV in years. (# of yeara between diagnosis and study date) y=CD4 Count Y=501.41+12.67 supplements -30 23 duration of HIV. A. What is ezpected CD4 count for patients taking supplements who had HIv for 2.5 years? B. Expected CD4 count not takong supplements with HIv at study start date? C. Expected CD4 coubt for patients not taking supplements with HIV for 2.5 years? D. Uf compare 2 patients, 1 HIV for 5 years longer than other, whats expected difference in CD4 count?

Recommended textbooks for you

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

Elementary Statistics: Picturing the World (7th E…

Statistics

ISBN:

9780134683416

Author:

Ron Larson, Betsy Farber

Publisher:

PEARSON

The Basic Practice of Statistics

Statistics

ISBN:

9781319042578

Author:

David S. Moore, William I. Notz, Michael A. Fligner

Publisher:

W. H. Freeman

Introduction to the Practice of Statistics

Statistics

ISBN:

9781319013387

Author:

David S. Moore, George P. McCabe, Bruce A. Craig

Publisher:

W. H. Freeman

SEE MORE TEXTBOOKS