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Q. Explain about Regression analysis?
Regression analysis is the statistical technique which identifies the relationship between two or more quantitative variables: a dependent variable whose value is to be predicted and an independent or explanatory variable (or variables), about that knowledge is available. Technique is used to find the equation which represents the relationship between the variables. A simple regression analysis can demonstrate that relation between an independent variable X and a dependent variable Y is linear, using simple linear regression equation Y= a + bX (where a and b are constants). Multiple regression will provide an equation which predicts one variable from two or more independent variables, Y= a + bX1+ cX2+ dX3.
Q. Describe MRPL and profit maximisation? The common rule is that firm maximises profit by producing that quantity of output where marginal revenue equals marginal costs. Profi
asumption and limitation of increemrntal,oppurtunity cost
General and Selective Credit Control These are imposed with the full apparatus of the law or informally using specific instructions to banks and other institutions. For insta
For Oliver E. Williamson, existence of firms derives from 'asset specificity' in production, where assets are specific to each other such that their value is much less in a second-
Discuss the full cost pricing and marginal cost pricing method. Explain how the two methods differ from each other.
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Q. Explain Discrete-event simulation? Discrete-event simulation: Operation of a system is signified as a chronological sequence of events. Every event take place at an instan
What is increasing marginal cost? Felix’s marginal cost is greater the more lawns he has previously mowed. It is, every time he mows a lawn, the extra cost of doing still anoth
The production function can have many uses. It can be used to compute least-cost factor combination for a given output or maximum output combination for a given cost. Knowledge of
Q. Explain the concept of demand function? Identical to the demand theory which pivots around the concept of demand function, theory of production revolves around the concept o
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