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The least square method is based on the assumption that the past rate of change of the variable under study will continue in the future. It is a mathematical procedure for fitting a line to a set of observed data points in such a manner that the sum of the squared differences between the calculated and observed value is minimized. This techniques is used to find a trend line which best it the available data. This trend is then used to project dependant variable in the future. This method is very popular because it is simple and in expensive.
A company a product using labor (L) and raw material (R) with Q = 80L^0.2 R^0.8. If labor costs $20 per hour and raw material $40 per unit, what is the optimal combination (least c
What is production with one variable input
Motives of regional financial institutions: There are mixed motives for the donor countries to provide development assistance to developing nations. While a desire for poverty
Clearly explain the distinction between supply, demand and equilibrium price.
I need help with filling out the bank balance sheet.
#questThe demand for and supply of labour in a certain industry are given by the equations Nd = 400 - 2w Ns = 240 + 2w Where Nd ( is the number of workers employers want to hire
Economists view depreciation as capital consumption for them, there are two distinct ways of charging for depreciation (1) the depreciation of equipment must equal its opportunity
Explain the Kuhn-Tucker Theorem in economics. Kuhn-Tucker Theorem: Assume that x solves the inequality constrained optimization problem and also satisfies the constrained qu
how to solve Min (x+y/2, 2y+x, 3x)
Participation in Global System of Production: As national economies are getting more inter-linked, the share of foreign components in most manufactured products is progressiv
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