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Suppose that monthly data on some time series variable exhibits a clear upward trend but no seasonality. You decide to use a moving average, with any appropriate span. Will there tend to be a systematic bias in your forecasts? Explain why or why not.
Under what circumstances can inventory be used as a hedge against inflation?
Provide an example of when you might want to take a stratified random sample instead of a simple random sample and explain what the advantages of a stratified sample might be.
Do you agree with the statement that nonresponse errors can be overcome with larger samples? If you agree, explain why. If you disagree, provide an example that backs up your opinion.
When, if ever, is it appropriate to use the standard normal distribution as a substitute for the t distribution with n - 1 degrees of freedom in estimating a population mean?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..
Explain each of the following using supply and demand diagrams, With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.
The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.
Draw the production possibility curve and a. Define consumer surplus and producer surplus.
The Australian government administers two programs that affect the market for cigarettes
How many tickets to sell to maximize total welfare.
The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled
Depict the von Neumann-Morgenstern utility index u in a diagram
What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution
Calculate gross national product and net national product
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