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Study of tree frogs. Refer to the Experimen- tal Zoology study of the optomotor responses of tree frogs, Exercise 5.9 (p. 271). Recall that the researchers modeled the light intensity at which optomotor response was ?rst observed (y) as a function of spectral wavelength (x). In the solution to the exercise you hypothesized the third-order model, E(y) = β0 + β1x + β2x2 + β3x3. Suppose data on n = 10 tree frogs were collected, with spectral wavelength (measured in microns) set at x = 1 for the ?rst frog, x = 2 for the second, x = 3 for the third,... , and x = 10 for the 10th frog.
(a) Demonstrate the potential for round-off errors in the parameter estimates by ?nding the cor- relation between x and x2,x and x3, and x2 and x3.
(b) Provide a formula for the coded independent variable u that will reduce level of multi- collinearity in the independent variables.
(c) Refer to part b. Find the correlation between u and u2, u and u3, and u2 and u3. What do you observe? Is the level of correlation reduced for all three pairs?
During the late 1980' and early 1990's, economic reforms initiated by Soviet President Mikhail Gorbachev began to raise consumer incomes; but the Soviet government continued to impose price ceilings on basic goods like food, clothing and household..
If the Canadian production function is Cobb-Douglas with capital's share in total output 0.3, output growth is 3 percent per year, depreciation is 4 percent per year, and the capital-output ratio is 2.5,
Over the next three years, a firm is expected to earn economic profits of $120,000 in the first year, $140,000 in the second year, and $100,000 in the third year. After the end of the third year, the firm will go out of business.
The income elasticities of demand for movies, dental services, and cloting have been estimated to be +3.4, +1, and +.5, respectively. Interpret these coefficients. What does it mean if an income-elasticity coefficient is negative
A local video store estimates their average customer's demand per year is Q = 20 - 4P, and knows the marginal cost of each rental is $1.00. How much should the store charge for an annual membership in order to extract consumer surplus
Your firm spent $100 million developing a new drug. It has now been approved for sale, and each pill costs $1 to manufacture. Your market research suggests that the price elasticity of demand in the general public is What price do you charge the p..
Track consumption and investment around 2000 and 2001. From Table 1.1.1, which variable had the bigger percentage change around this time? Compare non-residential fixed investment with overall investment. Which variable had the bigger percentage c..
In your project, address the following questions: Using the elasticity estimates in the table above, classify the price elasticity demand as elastic or inelastic. Explain your reasoning. Explain the implications of those classifications on tax rev..
Examine the major complexities that would arise under expansion via capital projects. Propose key actions that the company could take in order to prevent or address these complexities.
Find the Nash equilibrium of Cournot's game when there are 2 firms, the inverse demand function is given by equation P(Q) = a - Q if Q a
subcontractor is paid actual costs times the indirect rate of 167% and fee on the total of the direct and indirect costs of 15%. You discover in the invoice timecards of their Canadian Subsidiary, roughly $100,000 CD of the $500,000 US invoiced.
Write down the conditions that characterize the world equilibrium when this condition is not satisfied.
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