Question
In: Statistics and Probability
Suppose the sale of a particular product Y and the advertisement expenditure X assumes a two...
Suppose the sale of a particular product Y and the
advertisement expenditure X assumes a two variable linear relation
model given by Yj=α+βXj+ej, j=1, 2, ..., n
(a)Suppose that Xj are random variables and ej is the error term.
State the necessary assumptions that enable the estimation and
investigation of the estimators α ̂ and β ̂. [6 marks]
(b)Define a least square estimator of α and β which minimize the
squared error
(c)Derive the least squares estimator of β. [6 marks] (d)Show that
α ̂=Y ̅-β(X̄) [3 marks
Solutions
orchestra answered 1 year agoRelated Solutions
find a particular solution y”+y’+y=x+1 and y"+y'=x+1
find a particular solution y”+y’+y=x+1
and y"+y'=x+1
Suppose that there are two consumers A and B and two products x and y. The...
Suppose that there are two consumers A and B and two products x
and y. The initial endowment W is such that consumer A is endowed
with (WXA, WYA) = (1,8) and consumer B is endowed with (WXB, WXB) =
(8,27). Both consumers have standard preferences, and their utility
functions are the same and equal to
UA(xA, yA) = xA * yA2 UB(xB, yB) = xB * yB2.
Question 1 -a
Determine consumer A and B’s utility at their initial...
Given two functions, M(x, y) and N(x, y), suppose that (∂N/∂x − ∂M/∂y)/(M − N) is...
Given two functions, M(x, y) and N(x, y), suppose that (∂N/∂x −
∂M/∂y)/(M − N)
is a function of x + y. That is, let f(t) be a function such
that
f(x + y) = (∂N/∂x − ∂M/∂y)/(M − N)
Assume that you can solve the differential equation
M dx + N dy = 0
by multiplying by an integrating factor μ that makes it exact
and that it can also be
written as a function of x + y,...
Suppose that there are two goods, X and Y. The utility function is ?(?, ?) =...
Suppose that there are two goods, X and Y. The utility function
is ?(?, ?) = 5?2 ?. The price of Y is $2 per unit, and
the price of X is P. Income is $2,400.
A.) Derive the demand curve and state the law of demand in
relation to your product or service.
B.) ? = 800 − 10?0.5 . Calculate elasticity of demand
when Q=100, Is the good elastic?
C.) ? = 800 − 10?0.5 − 0.5?. Calculate...
Suppose that there are two goods, X and Y. The utility function is ?(?, ?) =...
Suppose that there are two goods, X and Y. The utility function
is ?(?, ?) = 5?2 ?. The price of Y is $2 per unit, and
the price of X is P. Income is $2,400.
A.) Derive the demand curve and state the law of demand in
relation to your product or service.
B.) ? = 800 − 10?0.5 . Calculate elasticity of demand
when Q=100, Is the good elastic?
C.) ? = 800 − 10?0.5 − 0.5?. Calculate...
Once the Consumer Product Safety Commission (CPSC) prohibits the sale of a particular product in the...
Once the Consumer Product Safety Commission (CPSC) prohibits the
sale of a particular product in the United States, a manufacturer
can no longer sell the product to U.S. wholesalers or retailers.
However, the product can be sold in other countries that have not
prohibited its sale. The same is true of other countries' sales to
the United States. For example, Great Britain outlawed the sale of
the prescription sleeping pill, Halcion, but sales of the drug
continue in the U.S....
A company manufactures x units of Product A and y units of Product B, on two...
A company manufactures x units of Product A
and y units of Product B, on two machines, I and
II. It has been determined that the company will realize a profit
of $2/unit of Product A and a profit of $4/unit of Product
B. To manufacture a unit of Product A requires 6
min on Machine I and 5 min on Machine II. To manufacture a unit of
Product B requires 9 min on Machine I and 4 min on...
A company manufactures x units of Product A and y units of Product B, on two...
A company manufactures x units of Product A
and y units of Product B, on two machines, I and
II. It has been determined that the company will realize a profit
of $2/unit of Product A and a profit of $6/unit of Product
B. To manufacture a unit of Product A requires 6
min on Machine I and 5 min on Machine II. To manufacture a unit of
Product B requires 9 min on Machine I and 4 min on...
A company manufactures x units of Product A and y units of Product B, on two...
A company manufactures x units of Product A
and y units of Product B, on two machines, I and
II. It has been determined that the company will realize a profit
of $3/unit of Product A and a profit of $6/unit of Product
B. To manufacture a unit of Product A requires 6
min on Machine I and 5 min on Machine II. To manufacture a unit of
Product B requires 9 min on Machine I and 4 min on...
A $3 tax is imposed on the sale of a particular industrial product. If the demand...
A $3 tax is imposed on the sale of a particular industrial
product. If the demand for that product is QD=60-5P and supply for
that product is QS=10P-30. Calculate the equilibrium price(s) and
quantity after the tax.
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