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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.
1. Suppose we observe that the price of soyabeans goes up while the quantity of soyabeans sold goes up as well. Use the supply and demand curves to illustrate two possible explanat
The goal is to replicate a real life product development and familiarize students with the invent process of a system, component, or process to meet desired wants within realistic
study on internet will impact on gdp
I would tend to think that a 5% per year goal is more reasonable. Smaller incremental goals always appear to be more attainable, while more radical goals may actually be more diffi
1. Suppose the wage rate is w = 1. An agent is working 6 hours per day and consumes 5 units of goods per day. Suppose that the agent claims to be indifferent between his current
merits and demerits of monopsony
Explain how oligopolies can work both for and against consumers. Oligopolies market power can of course work against consumers - as price-setting and any form of collusion will
ways of imroving productivite
explain the marginal produtivity theory
Risk Averse: - A person who prefers certain given income to risky income with same expected value. - A person is careful risk averse if they have a diminishing marginal ut
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