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Consider a Cournot duopoly with two firms (firm 1 and firm 2) operating in a market with linear inverse Demand P(Q) = x Q where Q is the sum of the quantities produced by both
Definition of Central Tendency The central tendency of a variable means a typical value around which other values tend to concentrate which can be measured. Such concentration
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Methods of Forecasting Various techniques which are generally used in business forecasting are as under: 1. Forecasting through the opinion of heads of department
The Harmonic Mean is based on the reciprocals of numbers averaged. It is defined as the reciprocal of the arithmetic mean of the reciprocal of the given individual observations. Th
A salesperson visits from house to house to sell her knives. The probability that she makes a sale at a random house is .3. Given that she makes a sale, the sale is worth $100 with
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For calculating the mode of the grouped data graphically, the following procedure is adopted. Draw a histogram of the data; the modal class is the tallest rectangle.
From the information given, what seems to be the main flaw in each of the following statistical generalisations? (i) Banking industry employees are facing a crisis, if their
Cluster Analysis could be also represented more formally as optimization procedure, which tries to minimize the Residual Sum of Squares objective function: where μ(ωk) - is a centr
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