Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN: 9781305506381
Author: James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher: Cengage Learning
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Chapter 5, Problem 1.4CE
To determine
To plot data on a graph and depict the fastest growing transportation.
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The Wall Street Journal’s website, www.wsj.com, reported the number of cars and light-duty trucks sold through October of 2014 and October of 2015. The top sixteen manufacturers are listed here. The sales information for all manufacturers can be accessed in a data file below. Sales data are often reported in this way to compare current sales to last year’s sales.
Year-to-Date Sales
Manufacturer
Through October 2015
Through October 2014
General Motors Corp.
2,562,840
2,434,707
Ford Motor Company
2,178,587
2,065,612
Toyota Motor Sales USA Inc.
2,071,446
1,975,368
Chrysler
1,814,268
1,687,313
American Honda Motor Co Inc.
1,320,217
1,281,777
Nissan North America Inc.
1,238,535
1,166,389
Hyundai Motor America
638,195
607,539
Kia Motors America Inc.
526,024
489,711
Subaru of America Inc.
480,331
418,497
Volkswagen of America Inc.
294,602
301,187
Mercedes-Benz
301,915
281,728
BMW of North America Inc.…
Exact Formulas. Compare the doubling times found with the approximate and exact doubling time formulas. Then use the exact doubling time formula to answer the given question.
A nation of 100 million people is growing at a rate of 3.5% per year. What will the nation’s population be in 30 years?
The two curves below describe the numbers of people in two countries at time t, in years. Answer
parts (a) through (d) to the right.
Population (in millions)
500-
400-
300-
200-
100-
0
(1,260)
(3,300)
(1,100)
(2,200)
1 2 3
Time (in years)
B
(4,400)
(3,150)
4
Note: Graph not drawn to scale.
Q
Q
a) Find the average rate of change of each population with respect to time t as t changes from
to 4. This is often called the average growth rate.
The average growth rate of population A is million people per year.
(Simplify your answer.)
The average growth rate of population B is million people per year.
(Simplify your answer.)
b) If the calculation in part (a) were the only one made, would we detect the fact that the
populations were growing differently?
O A. No, the unequal rates suggest similar growth patterns.
O B. Yes, the unequal rates suggest different growth patterns.
O C. No, the equal rates suggest similar growth patterns.
O D. Yes, the equal rates suggest different growth patterns.
c)…
Chapter 5 Solutions
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
Ch. 5 - The forecasting staff for the Prizer Corporation...Ch. 5 - Prob. 2ECh. 5 - Metropolitan Hospital has estimated its average...Ch. 5 - Prob. 4ECh. 5 - A firm experienced the demand shown in the...Ch. 5 - The economic analysis division of Mapco...Ch. 5 - The Questor Corporation has experienced the...Ch. 5 - Bell Greenhouses has estimated its monthly demand...Ch. 5 - Savings-Mart (a chain of discount department...Ch. 5 - Prob. 1.1CE
Ch. 5 - Plot the logarithm of arrivals for each...Ch. 5 - Logarithms are especially useful for comparing...Ch. 5 - Prob. 1.4CECh. 5 - In attempting to formulate a model of the...Ch. 5 - Estimate the double-log (log linear) time trend...Ch. 5 - Prob. 2.1CECh. 5 - Prob. 3.1CECh. 5 - Prob. 3.2CECh. 5 - Prob. 3.3CE
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