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The amount of popcorn consumed in the United States (in millions of pounds) was: 353 in 1970, 393 in 1975, 568 in 1980, 670 in 1985, 700 in 1986, 741 in 1987, 807 in 1988, and 872 in 1989.
(a) Find a line of best fit for this data and
(b) use it to project the popcorn consumption in 1999.
(c) In what year would you expect consumption to first exceed one billion pounds?
A company bought a piece of equipment for $100000 3 years ago, with salvage values of $20000 after 8 years. The machine now can be sold for $35000. The annual operating cost for this equipment is $15000. A new piece of equipment can be bought.
When the more current observations are more relevant to estimate of next period than previous observations, the naive forecasting method to employ is
Describe the successive loss of information as the presentation changed from ratio to nominal.
The Santa Barbara Bowl (SBB) holds outdoor music events (M), earning $3 of revenue from each concert and with total costs of cM(M) = M2=8 for M concerts. Ursula is a writer who lives right next to the SBB and who sells her novels on the competitiv..
if an ammonia plant that produces 500,000 pounds per year cost $2,500,000 to construct eight years ago, what would a 1,500,000 pound per year plant cost now Suppose that the construction cost index has increased an average rate of 125
Suppose the economy is in a short-run equilibrium where Y
Suppose there are five goods in the economy, A-E. The current-year quantity of each is 10A, 20B, 30C, 40D, and 50E. Current-year prices are $1 for each unit of A, $2 for each unit of B, $3 for each unit of C, $4 for each unit of D, and $5 for each..
Analyzing domestic market for corn Qd= 1800 -125P-10pw Qs = 440 + 165P Quantities in millions of bushels; prices are measured in dollars per unit. Pw is the price of wheat. Pw = $20, calculate the equilibrium price and quantity of corn.
Which decade, the 1970s, 1980s, or 1990s, saw the highest average rate of inflation in the United States? Which of these decades saw the lowest average inflation rate?
work will be evaluated for the clarity of the structure, the logic in the development of your argument, and the thoroughness with which you discuss the important point
Consider the market for gasoline. In the initial equilibrium, the price is $2.00 per gallon and the quantity is 100 million gallons. The price elasticity of demand is 0.70, and the price elasticity of supply is 1.0.
If she expects to live for seven more years after retiring, and wants her consumption to remain the same (in real terms) every year from now on, how much can she consume this year?
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