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The following data relate the sales figures of the bar in Mark? Kaltenbach's small? bed-and-breakfast inn in? Portland, to the number of guests registered that? week:
Week Guests Bar Sales
1 16 $3202 12 $2653 18 ?$3804 14 $300
?a) The simple linear regression equation that relates bar sales to number of guests? (not to? time) is ?(round your responses to one decimal? place): Bar Sales? = ___ + ___ x guests
?b) If the forecast is 24 guests next? week, the bar sales are expected to be ?$___? (round your response to one decimal? place).
Find variable cost, fixed cost, average cost, average variable cost,and average fixed cost. (Hint: Marginal cost is given by MC = 8q).
What is the purpose of the lender of last resort' facility? Why is there a conflict between liquidity and profitability for the retail banks?
Consider an increase in the demand for petroleum engineers in the United States. How would the supply of these engineers respond in the short run.
In the long-run equilibrium of the clothing industry, what happens to the economic profit of all existing firms; and the price?
A firm is a monopoly with demand and cost functions given by P = 200 – 2Q and C(Q) = 2,000 + 3Q2 respectively. Show your computations. Compute total cost. Compute total revenue. What is the price at the profit maximizing quantity?
The process includes the melting of metals and chemicals which give the sifters strength. In the production process, waste is produced and released into the river that runs alongside of the plant.
Discuss two to three actions a budget analyst should review consistently to alleviate over budgeting for operating and maintenance costs of a capital project.
U.S. growth: On page 50, we noted that the growth rate of per capita GDP in the United States between 1870 and 1929 was slightly lower than 2.0%.
Using the axes from a Lorenz curve, draw a. the Lorenz curve for perfect equality. b. the Lorenz curve for perfect inequality.
For most firms today, success or failure is determined by the ability to find, attract, keep, develop, and tap into the most talented workforce that can be assembled. Use the Kaplan Online Library to search for articles related to this topic.
sometimes market activities production buying and selling have unintended positive or negative effects outside the
Market supply is given as QS=2P. if price increases from $385 to $390, what is the price elasticity of demand?
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