2. The following report is a cross table of consumers' willingness to pay for different types...

2. The following report is a cross table of consumers' willingness to pay for different types of commodities. Please explain the difference in value of different types of commodities according to the content of the table.

				value		df		p
Pearson χ²				749.50		9		.000
有效觀察值的個數				1274
			types of commodities							total
			A		B		C		D
Value of commodities	Less than 30	Number	311_a		118_b		146_b		18_c	593
		Within the product type	95.4%		37.3%		46.2%		5.7%	46.5%
	31~60	Number	5_a		151_b		115_c		82_d	353
		Within the product type	1.5%		47.8%		36.4%		25.9%	27.7%
	61~90	Number	5_a		37_b		34_b		105_c	181
		Within the product type	1.5%		11.7%		10.8%		33.2%	14.2%
	90 or more	Number	5_a		10_{a, b}		21_b		111_c	147
		Within the product type Number	1.5%		3.2%		6.6%		35.1%	11.5%
total			326		316		316		316	1274
		Within the product type Number	100.0%		100.0%		100.0%		100.0%	100.0%

Expert Solution

ANSWER::

If the value of commodity A is less than 30 then 95.4% of people are willing to pay for it, for the commodity B this value is 37.3%, for the commodity C this value is 46.2%, and for the commodity D this value is only 5.7%. That means commodity A has the highest demand if its value is less than 30.

If the value of commodity A is between 31 and 60 then 1.5% of people are willing to pay for it, for the commodity B this value is 47.8%, for the commodity C this value is 36.4%, and for the commodity D this value is 25.9%. That means commodity B has the highest demand if its value is between 31 and 60.

If the value of commodity A is between 60 and 90 then 1.5% of people are willing to pay for it, for the commodity B this value is 11.7%, for the commodity C this value is 10.8%, and for the commodity D this value is 33.2%. That means commodity D has the highest demand if its value is between 60 and 90.

If the value of commodity A is 90 or more than 90 then 1.5% of people are willing to pay for it, for the commodity B this value is 3.2%, for the commodity C this value is 6.6%, and for the commodity D this value is 35.1%. That means commodity D has the highest demand if its value is more than 90.

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orchestra answered 2 years ago

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