Can someone please help with this??
2 answers:
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a. $150
b. 150+20x630
20x480
x24
c. 150+20x750
20x600
x30
d. 150+20x950
20x800
x40
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Answer:
Based on expert opinion the regression does not suffer from omitted variable bias
Step-by-step explanation:
<em>Based on expert opinion the regression does not suffer from omitted variable bias </em>because its indicators taking values of 1 and 0 where 1 would represent taking action by the legal system and 0 would represent not taking action by the legal system. as
The researcher plans to regress national income per capita based on the effect of the legal system
applying the formula for addressing omitted variable bias ( attached below )
Answer:
The number of elephant ears that must be sold to maximize profit is 400.
Step-by-step explanation:
Given that,
The profit that a vendor makes per day is given by
P(x)= - 0.004x² +3.2 x -200
where x is number of elephant ears.
P(x)= - 0.004x² +3.2 x -200
Differentiating with respect to x
P'(x)= - 0.008x+3.2
Again differentiating with respect to x
P''(x) = -0.008
For maximum or minimum P'(x)=0
- 0.008x+3.2=0
⇒0.008x=3.2
⇒ x = 400
Since at x=400, P''(x)<0, the profit is maximize.
P(400) = -0.004×400²+3.2×400-200
=440
The number of elephant ears that must be sold to maximize profit is 400.