| (a) |
Make an Excel worksheet to calculate SSxx, SSyy, and SSxy. (Leave no cells blank - be certain to enter "0" wherever required. Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.) |
| Part-Time Weekly Earnings ($) by College Students | ||||
| Hours Worked (X) | Weekly Pay (Y) | (xi−x⎯⎯)2(xi−x¯)2 | (yi−y⎯⎯)2(yi−y¯)2 | (xi−x⎯⎯)(yi−y⎯⎯)(xi−x¯) (yi−y¯) |
| 10 | 93 | ? | ? | ? |
| 15 | 171 | ? | ? | ? |
| 20 | 204 | ? | ? | ? |
| 20 | 156 | ? | ? | ? |
| 35 | 261 | ? | ? | ? |
| x⎯⎯x¯ | y⎯⎯y¯ | ssxxssxx | ssyyssyy | ssxyssxy |
| ? | ? | ? | ? | ? |
| (b) |
Use the formulas to calculate the slope and intercept. (Round your answers to 3 decimal places.) |
| b1 | ? |
| b0 | ? |
| (c) |
Use your estimated slope and intercept to make a worksheet to calculate SSE, SSR, and SST. (Leave no cells blank - be certain to enter "0" wherever required. Negative values should be indicated by a minus sign. Do not round intermediate calculations, but final answers should be rounded to 3 decimal places.) |
| Hours Worked (xi) |
Weekly Pay (yi) |
Estimated Pay (yˆi)(y^i) |
yi−yiˆyi−yi^ | (yi−yˆi)2(yi−y^i)2 | (yˆi−y⎯⎯)2(y^i−y¯)2 | (yi−y⎯⎯)2(yi−y¯)2 |
| 10 | 93 | ? | ? | ? | ? | ? |
| 15 | 171 | ? | ? | ? | ? | ? |
| 20 | 204 | ? | ? | ? | ? | ? |
| 20 | 156 | ? | ? | ? | ? | ? |
| 35 | 261 | ? | ? | ? | ? | ? |
| x⎯⎯x¯ | ? |
| y⎯⎯y¯ | ? |
| SSE | ? |
| SSR | ? |
| SST | ? |
| (d) | Calculate the R2. (Round your answer to 4 decimal places.) |
| R2 | ? |
In: Economics
United Kingdom and Tanzania
Address the following:
In: Economics
This assignment is an individual-specific assessment of the industry in which you currently work or of the industry in which you intend to work after completing your MBA. This assessment is composed of two parts. The first part of the assignment should discussion the sources of the value created within your particular industry. Your brief document should address the following issues:
You should also be prepared to provide a very brief executive summary of your findings to the class (no slides) at 2:00 PM Eastern on Saturday afternoon.
The second part is the Practical Connection component for this class. You should reflect on how the specific skills or knowledge presented in this class may be applied in your current or intended career. This statement should not simply list the concepts covered to date --- it should focus on specific topics that are directly connected to your career or intended career. This part of the project should be at least 500 words or about 2 double-spaced pages.
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Assume you are the manager of Wenstrom Brewing Company (WBC) and you face the following demand for your beer: QWBC = 12 - 3PWBC + 4PPBR. Suppose you sell your beer for $3.00 per bottle and PBR sells for $1.50 per bottle.
a. Is PBR a substitute or a complement? Explain. b. Calculate the cross-price elasticity of demand between WBC and PBR at the given prices. c. If you want to increase the level of beer you sell by 15%, how much should you change the price? Is this a good idea? Explain. d. Does your answer to part c change if the price of WBC were $2.50 per bottle? Explain. e. If advertising was included in the demand equation and the advertising elasticity was calculated to be 2, how much would consumption of your beer change if you increased the level of advertising by 4%?
In: Economics
discuss whether or not you think the ARRA was effective and useful? Were some parts of it more useful than others?
In: Economics
Discuss some of the broad options available for fixing the long-run problems associated with the social security retirement system.
Which options do you believe are socially justifiable? Explain
In: Economics
Consider a free market with demand equal to Qd = 900 – 10P and supply equal to Qs = 20P.
What is the value of consumer surplus (CS) when the market is in equilibrium? What is the value of producer surplus (PS) when the market is in equilibrium?
Graph the supply and demand curves and identify the equilibrium price and quantity on your graph. Show CS and PS on your graph of the demand and supply curves.
Now suppose the government imposes a $15 per unit subsidy on the production of the good. What is the consumer surplus now? The producer surplus? Why is there deadweight loss associated with the subsidy, and what is the size of this loss?
Explain in your own words what deadweight loss is and why it is relevant in the study of public sector economics.
In: Economics
In: Economics
In: Economics
GDP measures the:
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a) money circulating through an economy during a year. |
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b) value of the final goods and services produced within the borders of a country during a given period. |
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c) value of the final goods and services produced by the citizens of a country regardless of their location during a given period. |
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d) amount of government spending undertaken during a given period. |
In: Economics
1) Explain why an economy’s income must equal its expenditure. 2) List the four components of GDP. Give an example of each. 3) Why do economists use real GDP rather than nominal GDP to gauge economic well-being? 4) Explain the GDP deflator, its calculation, and its meaning. 5) Explain the inflation implication when we use GDP deflator to calculate
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Suppose there exist 2 countries, Home and Foreign; 2 goods, X and Y; and 2 factors of production, labour (L) and capital (K). Each country can produce both goods. X is labour-intensive and Y is capital-intensive. Home is labour-abundant and Foreign is capital-abundant. Assume that the standard assumptions of the Heckscher-Ohlin model hold. When answering the following question, please support each of your arguments with detailed analysis and draw the relevant diagrams to support your answer.
Consider a move from autarky to free trade between the two countries in both goods. Identify which group of people (labourers or owners of capital) gain and which lose in Home from the move from autarky to free trade. Discuss clearly how the assumptions of the model lead to this result.
In: Economics
In: Economics
Stephanos spends all of his $500 allowance on slices of pizza and gas for his pickup truck. He spends eighty percent of this on pizza and the rest on gas. Because of a shortage of gas, the price of gas increases by 40%. This makes his consumption of gas (measured in gallons) fall by 20%. If he keeps spending all his money on pizza and gas, what is the percentage change in his consumption of pizza (measured in slices)?
In: Economics
Think about someone that you admire. What are some of their personal ethics? Where do you think they developed those? How could those be applied in the workplace?
In: Economics