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The variance of the OLS estimator is VAR( ^B)=σ2 /ns2x , where s2x=£x2/x You're hired to estimate and you're going to be paid according to the accuracy of your estimate. Specifically, your revenue is ¥/std (B). You can buy as many observations as you want at price . The sample variance of , never changes. How many observations should you buy?
Determine The scope of managerial economics The scope of managerial economics involves following subjects: 1. Theory of demand 2. Theory of production 3. Theory of
SOME DIFFICULTIES IN MEASURING NATIONAL INCOME National Income Accounting is beset with several difficulties. These are: a. What goods and services to include A
williamson model and managerial discretion about its objective and statement of problem
what is the definition
Q. Describe Rule based forecasting? Rule based forecasting: Rule-based forecasting (RBF) is a proficient method which incorporates judgment as well as statistical techniques
FACTORS RESPONSIBLE FOR WAGE DIFFERENTIALS WITHIN THE SAME OCCUPATION i. Differences in the environment: For example a doctor sent to North Eastern Province must be pai
KEYNESIAN VIEW ON UNEMPLOYMENT Keynes in his General Theory presented a view that fluctuations in aggregate demand (AD) influences the equilibrium level of output. Thus
define scarcityand oppurtunity cost.show how these concepts are useful in managerial decision making
Optimum combination of resources The firm can maximise output given costs. That is when the entrepreneur attains the highest isoquant given a particular Isocost. At t
What is Cyert and March's behavior theory? What are the demerits.
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