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For the prostate data of Chapter 3, carry out a best-subset linear regression analysis, as in Table 3.3 (third column from left). Compute the AIC, BIC, five- and tenfold cross-validation, and bootstrap .632 estimates of prediction error. Discuss the results.
1. Draw the PERT diagram and determine the expected duration and the critical path.
2. Using simulation, assume the time required to complete a path is normally distributed. Determine the probability of being able to start your first job within 180 days.
3. To provide an allowance for unforeseen problems, you want to present your banker with an operations start time based on a 95% confidence. How many days from receipt of the loan will you tell the banker to expect you to start your first job?
Derive the rm's marginal product of labor curve. Derive the rm's average product of labor curve. If the rm has an output quota of 5,120 widgets, how many laborers must it employ in the short-run to achieve this level of production?
the general price inflation in our economy, the purchasing power of the dollar shrinks with the passage of time. If the average general inflation rate is expected to be 7% per year for the foreseeable future, how many years will it take for the do..
Complete the chart below for a firm that is operating under conditions of perfect competition where the market price is $22. What level of output maximizes the firm's profits Quantity -21,22,23,24 Price Total Revenue Marginal Revenue
ECON10132/ECON20292 Further Statistics. The tensile quality of a steel billet can be measured by its α- content. Define a suitable discrete random variable to represent the price of a tonne of steel
Remembering that the change in the capital stock is investment less depreciation, use a calculator or a computer spreadsheet to show how the capital stock per worker will evolve over time in both countries. calculate income per worker and consumpti..
Polla Chilena de Beneficencia S.A. operates the national lottery of Chile. The unit of currency is the peso (CLP); 1.00 CAD = 496.307 CLP at 18:00 PST May 25, 2012. Arturo Cousiño has won 500 million CLP on the national lottery.5
This year 200 workers will lose their jobs, 170 workers will return to the labor force after an absence 1100 workers will voluntaryly leave their jobs, and 50 new workers will enter the labor force. At the same time 726 workers will find jobs, and ..
Indiadesh is a country that produces two goods, textiles and computers. Last year, Indiadesh produced 500 textiles and 1300 computers. This year it produced 450 textiles and 1100 computers. Given no further information.
Pamela Sue, proprietor of Heartland Supermarket would like to raise her current sales of corn from 250 bushels per week to 500 bushels per week. Her current price of a bushel of corn is $14. Given and elasticity of demand of -2
Determine the effect of mandated health insurance profits be on the labor if the employees do not place any value on the benefits? What if they do place value on the profits?
Suppose the market demand function is given by: Q = 100 - 2P , where Q: total quantity, P: market price. And in this market there are two firms with MC=AV=$10. Find each of the following: 1. Perfect competition price, quantity, and consumer surplus
A firm in a perfectly competitive market will produce 0 output in the short run if the price in below $20 but will produce if the price is above $20. The smallest quantity they will produce in the short run is 6. The minimum of ATC is $447.75
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