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5.38. Winning marathon times. Chance (Winter 2000) published a study of men's and women's winning times in the Boston Marathon. The researchers built a model for predicting winning time (y) of the marathon as a function of year (x1) in which the race is run and gender (x2) of the winning runner. Classify each variable in the model as quantitative or qualitative.
5.39. Snow goose feeding trial. Writing in the Journal of Applied Ecology (Vol. 32, 1995), botanists used multiple regression to model the weight change (y) of a baby snow goose subjected to a feeding trial. Three independent variables measured are listed below. Classify each as quantitative or qualitative.
(a) Diet type (plant or duck chow)
(b) Digestion ef?ciency (percentage)
(c) Amount of acid-?ber detergent added to diet (percentage)
Suppose there are 2 countries, Home and Foreign, two factors of production, capital and labor and two products, food and cloth. Home has 100 units of labor and 200 units of capital, while Foreign has 300 units of labor and 150 units of capital. \(..
Why is advertising prevalent in many oligopolies, especially when industry demand is inelastic Illustrate your answer by assuming that with advertising, a firm's demand curve has price elasticity of -1.5 and without advertising, it is -2.
Suppose that the production function for the corporate sector is well represented by the Cobb-Douglas production function: Y=K^0.3L^0.7 Suppose that the capital stock of the firm is K bar= 10. Show that the demand for labor is given by W/P= 1.4L^-..
A firm in a purely competitive industry is currently producing 1000 units per day at a total cost of $450. If the firm produced 800 units per day, its total cost would be $300, and if it produced 500 units per day, its total cost would be $275.
On average, how much larger is consumption than investment?
A firm produces GPS devices in a monopolistically competitive market and has the following cost function: TC = 270 + 40Q + 2Q2 MC = 40 + 4Q Demand for this firm's product is given as: QD = 500 - 2P a) To maximize profits,what price will it charge
A construction company has purchased a crate that comes with a 3-year warranty. Repair costs are expected to average $3500 per year beginning in year 4 when the warranty expires. Determine the present worth of the crane's repair costs over its 15-..
Autie Frannie wants to help pay for her twin nephews to attend a private school. She intends to send a cheque for $2,000 at the end of each of the next eight years to apply to the cost of schooling. a) If general price inflation, as well as tuiti..
For both sets of calculations, compare the firm's output price and the calculated average variable cost and average total cost. Should the firm shutdown immediately when the total fixed cost equals $1,000,000
Country A has 1200 units of labor and can produce two goods, manufactures and food. A producers take 1 units of labor to produce one unit of manufactures and 3 units to produce one unit of food. Country B has 2100 units of labor and takes 3 units ..
The demand for life insurance, Executive Insurers, Corporation is planning the factors that affect the amount of life insurance held by executives. The following information on the amount of insurance and annual incomes of a random sample of twelve e..
One year later, none of the permits had been bought or sold. What could explain the absence of permit exchanges?
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