The mean squared error minimization smoothing constant's value can be found using a nonlinear optimization process.
Although the linear programming model is effective in many nonlinear optimization circumstances, it is insufficient to accurately model some issues. An illustration would be the isoperimetric problem, which asks you to identify the closed plane curve with the maximum area and a minimization given length. Pappus of Alexandria had access to the solution but not the proof. 340 CE.
The Swiss mathematician Johann Bernoulli challenged himself in 1696 to find the curve that minimizes the time it takes an object to slide, using minimization only the force of gravity, between two nonvertical points. This challenge marked the beginning of the branch of mathematics known as the nonlinear optimization calculus of variations. Along with Johann Bernoulli, the correct answers were also provided by his brother Jakob Bernoulli, the German Gottfried Wilhelm Leibniz, and the Englishman Isaac Newton. (The solution is the brachistochrone.) Many nonlinear algorithms, in particular, heavily rely on Newton's method of solving the problem.
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Answer:
B. simplified versions of reality designed to analyze "what ought to be" to help the government improve outcomes.
Explanation:
Economic models are simplified versions of reality designed to analyze "what ought to be" to help the government improve outcomes.
The argument that economic models are futuristic rather than current in its approach, could be seen from the purpose it tries to achieve (its uses)
The uses of economic models include:
1. Prediction of economic activities in which assumptions are used to arrive at conclusions
2. Prescription of new economic guidelines for the modification of future economic behaviors
.
3. Provision of logical defense for justification of economic policies.
4. Planning and allocation of resources.
5. For assistance in speculation about trading and investment.
All of these reasons are futuristic in nature, hence the alignment with the proposition that 'Economic models are simplified versions of reality designed to analyze "what ought to be" to help the government improve outcomes.'
What would likely raise Olivia's reservation wage is if Olivia learns that the job is more challenging than she initially thought
Reservation price is the least amount of wage that a worker would be willing to accept for services rendered.
<em><u>Factors that lead to changes in reservation wages</u></em>
- Finances: a worker that is in debt or in desperate need of money would have a lower reservation wage when compared with a person that is debt-free. For example, the reservation wage of a billionaire would be higher than the reservation wage of an homeless individual.
- Nature of the job: the more challenging a job is, the higher the reservation wage that would be demanded by a worker.
- Length of unemployment: the longer a person has been unemployed for, the lower the reservation wage.
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Answer:
The Cost of Goods Sold or COGS for the period was $85000
Explanation:
The cost of goods sold is the value or cost of inventory that has been sold off during the period. The Cost of Goods Sold of COGS can be calculated as follows,
COGS = Opening Inventory + Purchases - Closing Inventory
COGS = 50000 + 75000 - 40000
COGS = $85000
So, the Cost of Goods Sold or COGS for the period was $85000
Answer:
Account Title and Explanation Debit Credit
Work In Progress $140,625
(15,000 Units * 2.5 * $ 3.75)
Direct Materials Quantity Variance $5,625
($140,625- $ 135,000)
Materials $135,000
(36,000 * $ 3.75)