FREE SOLUTION

The city government has collected the following data on annual sales tax

QUESTION: The city government has collected the following data on annual sales tax collections and new car registrations: Determine the following: (a) The least-squares regression equation. (b) Using the results of part (a), find the estimated sales tax collections if new car registrations total 22,000, (c) The coefficients of correlation and determination. [signinlocker] ANSWER: (a) …

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Following are two weekly forecasts made by two different methods for the number

QUESTION: The following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in thousands, demanded at a local gasoline station. Also shown are actual demand levels, in thousands of gallons: What are the MAD and MSE for each method? [signinlocker] ANSWER: Method 1:        MAD: (0.20 …

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A gas in a container had a measured pressure of 57 kPa. Calculate the pressure in units of atm and mmHg?

QUESTION: A gas in a container had a measured pressure of 57 kPa. Calculate the pressure in units of atm and mmHg? [signinlocker] ANSWER: First, convert to atm (57 kPa = 57 x 103 Pa). 57 x 103 Pa x 1 atm/1.01325 x 105 Pa = 0.562 = 0.56 atm Next, convert to mmHg. 57 …

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For each of the following statements, indicate whether it is true or false. If false, explain why

QUESTION: For each of the following statements, indicate whether it is true or false. If false, explain why it is false. In regression analysis: 1. The estimated coefficient of x1 can be positive in the bivariate model but negative in a multiple regression model. 2. When a model is refitted after y = income is …

For each of the following statements, indicate whether it is true or false. If false, explain why Read More »

For the World Data for Fertility and Literacy data file on the text CD, a MINITAB printout

QUESTION: For the World Data for Fertility and Literacy data file on the text CD, a MINITAB printout follows that shows fitting a multiple regression model for y = fertility, x1 = adult literacy rate (both sexes), x2 = combined educational enrollment (both sexes). Report the value of each of the following: (a) r between …

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If every new product goes through a product cycle, will the technological

QUESTION: If every new product goes through a product cycle, will the technological initiator (e.g.. the United States or Japan) eventually develop chronic overall “trade deficits”? [signinlocker] ANSWER: According to the product life cycle approach, the technological originator of a product eventually will import the product. But its overall trade need not develop into chronic …

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A country whose trade has almost no impact on world prices is at

QUESTION: “A country whose trade has almost no impact on world prices is at great risk of immiserizing growth.” Do you agree or disagree? Why? [signinlocker] ANSWER: Disagree. Immiserizing growth can occur if growth in the country leads the country to want to trade more, and the country’s terms of trade deteriorate by a large …

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Again, consider the numerical example that we used to demonstrate the thinking of Adam Smith

QUESTION: Again, consider the numerical example that we used to demonstrate the thinking of Adam Smith (page 36). When these countries open to free trade, is it possible that the free-trade equilibrium world relative price of cloth is 1.5 W/C? [signinlocker] ANSWER: Using the information on the number of labor hours to make a unit …

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For my country, imports are a good thing about international trade, whereas exports

QUESTION: “For my country, imports are a good thing about international trade, whereas exports are more like the necessary evil.” Do you agree or disagree? Why? [signinlocker] ANSWER: Agree. Imports permit the country to consume more (or do more capital investment using imported capital goods). Anything that is exported is not available for domestic consumption …

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