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A bottling company has determined the number of machine breakdowns per month and their respective probabilities as given below: Number of Breakdowns Probability 0 0.12 1 0.38 2 0.25 3 0.18 4 0.07The expected number of machine breakdowns per month? Describe your answer.
Define Dummy Variable and write its importance in Regression model.
can you please help me build intution about it
explain the method with an example
A firm manufactures and sells a product that has the following demand function: Q = 180 - 4P where P is price, Q is quantity. It also faces the following
hypothetical data on consumption expenditure ($) and income ($) is given in the table x Y 80 55 100 65 85 70 110 80 120 79 115 84
Choose Y and X variables to model on the Household and the Environment Survey 2006. Using Ox software to write a program to do estimation, and then write a report based on the an
For each pair of terms/concepts, define each term/concept and explain the relationship between them. The ideal answer is three sentences. One for each definition and one for the re
Using a sample of 545 full-time workers, a researcher is interested in the question whether women are systematically underpaid compared to men. First, the researcher estimates aver
what is role of education in economic development?
In a year, weather can impose storm damage to a home. From year to year the damage is random. Let Y be the dollar value of damage in a given year. Assume that 95% of the year's Y=$
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