Determine the intercept coefficient (point E)and whether that estimate is statistically significant at the 5 percent level. RY $\begin{array}{l} \hline \text { gression Statistics }\\ \begin{array}{lr} \hline\text { R } & 0.971 \\ \text { e} & \mathbf{A} \\ \text { R-Square }& \mathbf{B} \\ \text { Error } &30.462\\ \text { ions } & 51\\ \hline \end{array}\end{array}$ $\begin{array}{rrrrrr} \hline&\text { df } & {\text { SS }} & {\text { MS }} & \boldsymbol{F} & {\text { Signiticance F}} \\ \hline\text { on }& \text { C } & 747851.57 & 373925.79 & 402.98 & 9.89 \mathrm{E}-31 \\ &48 & \text { D } & 927.91 & & \\ &50 & 792391.11 & & & \\ \hline \end{array}$ $\begin{array}{lrrrrrr} \hline &\text { Coefficients } & \begin{array}{c} \text { Standard } \\ \text { Error } \end{array} &{\text { t Stat }} & \text { P-value } & \text { Lower 95\% } & \text { Upper 95\% } \\ \hline &\mathbf{E} & 62.13 & 26.79 & 1.60 \mathrm{E}-30 & 1539.66 & 1789.51 \\ \text { Roses }&-6.68 & \mathbf{F} & -1.41 & 1.64 \mathrm{E}-01 & -16.16 & 2.81 \\ \text { le Income }&9.73 & 0.34 & \mathbf{G} & 1.23 \mathrm{E}-31 & 9.04 & 10.42\\ \hline \end{array}$

A) 1,664.46 and statistically significant since the P-value is less than 5 percent. B) 2.32 and statistically significant since the t-statistic is greater than 2 in absolute value. C) 1,664.46 and statistically insignificant since the P-value is less than 5 percent. D) 2.32 and statistically insignificant since the t-statistic is less than 2 in absolute value. A) 1,664.46 and statistically significant since the P-value is less than 5 percent. B) 2.32 and statistically significant since the t-statistic is greater than 2 in absolute value. C) 1,664.46 and statistically insignificant since the P-value is less than 5 percent. D) 2.32 and statistically insignificant since the t-statistic is less than 2 in absolute value.

Exam 3: Quantitative Demand Analysis

As a general rule of thumb,a manager can be 95 percent confident that the true value of the underlying parameter in the regression is not zero,when the absolute value of the t-statistic is:

(Multiple Choice)

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Question 41

For a given set of data and a regression equation,the greater the R-square:

(Multiple Choice)

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Question 42

You are the manager of a supermarket,and you know that the income elasticity of peanut butter is exactly −0.7.Due to the economic recession,you expect incomes to drop by 15 percent next year.How should you adjust your purchase of peanut butter?

(Multiple Choice)

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Question 43

When marginal revenue is positive,demand is:

(Multiple Choice)

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Question 44

The demand for which of the following commodities is likely to be most inelastic?

(Multiple Choice)

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Question 45

When a demand curve is linear,

(Multiple Choice)

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Question 46

The demand for women's clothing is,in general:

(Multiple Choice)

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Question 47

If the demand for a product is Q _x^d = 10 − ln P_x_, then product x is:

(Multiple Choice)

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Question 48

The demand for good X is estimated to be Q_x^d = 10,000 − 4P_X + 5P_Y + 2M + A_X, where P_X is the price of X,P_Y is the price of good Y,M is income,and A_X is the amount of advertising on X.Suppose the present price of good X is $50,P_Y = $100,M = $25,000,and A_X = 1,000 units.Based on this information,the income elasticity of good X is:

(Multiple Choice)

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Question 49

The demand for good X has been estimated to be ln Q_x^d = 100 − 2.5 ln P_X + 4 ln P_Y + ln M.The advertising elasticity of good X is:

(Multiple Choice)

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Question 50

Suppose the own price elasticity of demand for good X is −0.5,and the price of good X increases by 10 percent.What would you expect to happen to the total expenditures on good X?

(Multiple Choice)

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Question 51

When marginal revenue is negative for a linear (inverse)demand function,increases in output will cause total revenues to:

(Multiple Choice)

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Question 52

We would expect the own price elasticity of demand for food to be:

(Multiple Choice)

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Question 53

Suppose the equilibrium price in the market is $100 and the marginal revenue associated with the linear (inverse)demand function is $50.Then we know that the own price elasticity of demand is:

(Multiple Choice)

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Question 54

The demand for company X's product is given by Q_x = 12 - 3P_x + 4P_y.Suppose good X sells for $3.00 per unit and good Y sells for $1.50 per unit. a.Calculate the cross-price elasticity of demand between goods X and Y at the given prices. b.Are goods X and Y substitutes or complements? c.What is the own price elasticity of demand at these prices? d.How would your answers to parts a and c change if the price of X dropped to $2.50 per unit?

(Essay)

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Question 55

The cross-price elasticity of demand for books and magazines is −2.0.If the price of magazines decreases by 10 percent,the quantity demanded of books will:

(Multiple Choice)

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Question 56

The statistical analysis of economic phenomena is defined as:

(Multiple Choice)

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Question 57

The demand for food (a broad group)is more:

(Multiple Choice)

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Question 58

Determine the intercept coefficient (point E)and whether that estimate is statistically significant at the 5 percent level. RY gression Statistics R 0.971 e R-Square Error 30.462 ions 51 df SS MS Signiticance F on C 747851.57 373925.79 402.98 9.89-31 48 D 927.91 50 792391.11 Coefficients Standard Error t Stat P-value Lower 95\% Upper 95\% 62.13 26.79 1.60-30 1539.66 1789.51 Roses -6.68 -1.41 1.64-01 -16.16 2.81 le Income 9.73 0.34 1.23-31 9.04 10.42

(Multiple Choice)

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Question 59

Demand is perfectly elastic when the absolute value of the own price elasticity of demand is:

(Multiple Choice)

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Question 60

As a general rule of thumb,a manager can be 95 percent confident that the true value of the underlying parameter in the regression is not zero,when the absolute value of the t-statistic is:

For a given set of data and a regression equation,the greater the R-square:

You are the manager of a supermarket,and you know that the income elasticity of peanut butter is exactly −0.7.Due to the economic recession,you expect incomes to drop by 15 percent next year.How should you adjust your purchase of peanut butter?

When marginal revenue is positive,demand is:

The demand for which of the following commodities is likely to be most inelastic?

When a demand curve is linear,

The demand for women's clothing is,in general:

If the demand for a product is Q _x^d = 10 − ln P_x_, then product x is:

The demand for good X has been estimated to be ln Q_x^d = 100 − 2.5 ln P_X + 4 ln P_Y + ln M.The advertising elasticity of good X is:

Suppose the own price elasticity of demand for good X is −0.5,and the price of good X increases by 10 percent.What would you expect to happen to the total expenditures on good X?

When marginal revenue is negative for a linear (inverse)demand function,increases in output will cause total revenues to:

We would expect the own price elasticity of demand for food to be:

Suppose the equilibrium price in the market is $100 and the marginal revenue associated with the linear (inverse)demand function is $50.Then we know that the own price elasticity of demand is:

The cross-price elasticity of demand for books and magazines is −2.0.If the price of magazines decreases by 10 percent,the quantity demanded of books will:

The statistical analysis of economic phenomena is defined as:

The demand for food (a broad group)is more:

Demand is perfectly elastic when the absolute value of the own price elasticity of demand is:

The Fundamentals of Managerial Economics

Market Forces: Demand and Supply

The Theory of Individual Behavior

The Production Process and Costs

The Organization of the Firm

The Nature of Industry

Managing in Competitive, Monopolistic, and Monopolistically Competitive Markets

Basic Oligopoly Models

Game Theory: Inside Oligopoly

Pricing Strategies for Firms With Market Power

The Economics of Information

Advanced Topics in Business Strategy

A Managers Guide to Government in the Marketplace

Filters

Exam 3: Quantitative Demand Analysis

As a general rule of thumb,a manager can be 95 percent confident that the true value of the underlying parameter in the regression is not zero,when the absolute value of the t-statistic is:

For a given set of data and a regression equation,the greater the R-square:

You are the manager of a supermarket,and you know that the income elasticity of peanut butter is exactly −0.7.Due to the economic recession,you expect incomes to drop by 15 percent next year.How should you adjust your purchase of peanut butter?

When marginal revenue is positive,demand is:

The demand for which of the following commodities is likely to be most inelastic?

When a demand curve is linear,

The demand for women's clothing is,in general:

If the demand for a product is Q xd = 10 − ln Px, then product x is:

The demand for good X has been estimated to be ln Qxd = 100 − 2.5 ln PX + 4 ln PY + ln M.The advertising elasticity of good X is:

Suppose the own price elasticity of demand for good X is −0.5,and the price of good X increases by 10 percent.What would you expect to happen to the total expenditures on good X?

When marginal revenue is negative for a linear (inverse)demand function,increases in output will cause total revenues to:

We would expect the own price elasticity of demand for food to be:

Suppose the equilibrium price in the market is $100 and the marginal revenue associated with the linear (inverse)demand function is $50.Then we know that the own price elasticity of demand is:

The cross-price elasticity of demand for books and magazines is −2.0.If the price of magazines decreases by 10 percent,the quantity demanded of books will:

The statistical analysis of economic phenomena is defined as:

The demand for food (a broad group)is more:

Demand is perfectly elastic when the absolute value of the own price elasticity of demand is:

The Fundamentals of Managerial Economics

Market Forces: Demand and Supply

The Theory of Individual Behavior

The Production Process and Costs

The Organization of the Firm

The Nature of Industry

Managing in Competitive, Monopolistic, and Monopolistically Competitive Markets

Basic Oligopoly Models

Game Theory: Inside Oligopoly

Pricing Strategies for Firms With Market Power

The Economics of Information

Advanced Topics in Business Strategy

A Managers Guide to Government in the Marketplace

Filters

If the demand for a product is Q _x^d = 10 − ln P_x_, then product x is:

The demand for good X has been estimated to be ln Q_x^d = 100 − 2.5 ln P_X + 4 ln P_Y + ln M.The advertising elasticity of good X is: