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You have the following data for the last 12 months' sales for the PRQ Corporation (in thousands of dollars):
January 500 July 610
February 520 August 620
March 520 September 580
April 510 October 550
May 530 November 510
June 580 December 480
a. Calculate a 3-month centered moving average.
b. Use this moving average to forecast sales for January of next year.
c. If you were asked to forecast January and February sales for next year, would you be confident of your forecast using the preceding moving averages? Why or why not?
Management at the Johnston Corporation estimates a demand function for its lawnmower line to be:Explain the coefficients of each explanatory variable.
Assume a decrease in consumers' incomes causes a decrease in the demand for chicken and an increase in the demand for potatoes. Which good is inferior and which is normal? Explain your reasons.
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Assume your elasticity of demand for your parking lot spaces is -.05, and price is $20/day. If your MC is zero, and your capacity at 9 a.m. is 96% full over the last month, are you optimizing?
Which of the following changes to fiscal stimulus package of 2009 for $862 billion (under the bill called American Recovery and Reinvestment Act of 2009) would have a larger overall impact on AD? Explain your answer with credible logic and analysi..
Problem - Total Cost, Average Cost, Marginal Cost: - Complete the following table of costs for a firm. (Note: enter the figures in the MC column between outputs of 0 and 1, 1 and 2, 2 and 3, etc.)
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Consider the relationship given by QCars = 100 + 4xPCars - 2xPSteel - 0.2xPWorkers, where QCars is the quantity of cars (in thousands), PCars is the price of cars and PWorkers is the wage earned by autoworkers.
Find the equation of the new demand curve for Chevrolets. Plot the new demand curve, D1 c' and, on the same graph, plot the curve for Chevrolets, D c'. found in 2 (d).
The Haas Corporation's executive vice president circulates the memo to the firm's top management in which he argues for reduction in price of firms product. He says such a price cut will raise the firms sales and profits.
To maintain utility constant an income adjustment brought the student to consume the basket (61,92). What are substitution effects and the income ?
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