Specify the best parametric model

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Reference no: EM1312558

Q1. Specify the best parametric model for estimating the direct cost of commercial facility construction projects performed by this firm. You may select one of the above models or propose a new model, but be sure that your proposal is clearly elucidated also well-defended, including arguments for why your chosen model's weaknesses are not fatal to your recommendation. Among other items, please defend why your model is valid

Q2. Currently, at a price of $1 every, 300 popsicles are sold every day in the perpetually hot town of Rostin. Consider the elasticity of supply. In the short run, a price increase from $1 to $2 is unit-elastic (Es = 1). In the long run, a price increase from $1 to $2 has an elasticity of supply of 1.5.

Reference no: EM1312558

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