From the given description, Chip is using an experimental design called (A) matching.
Matching <u>is a type of experimental design where the researcher divide his or her samples into two groups of treatment conditions, which serves to ensure that before the treatment, both groups have the samples with the same characteristics, thus ensuring that the results of the experiment would not be influenced by any confounding variables that the samples have.</u>
Chip is doing this to ensure that samples that have been influenced by other variables which determine their decision to hire are distributed evenly in both the experimental and control group.
Answer:
The law of demand states that consumers will request more of a product if its price decreases. For supplement goods, an increase in the price of one will increase demand for the other. The demand curve for apples will react as follows.
Explanation:
<u>A). More people begin to prefer apples to oranges.</u>
Should peoples' preference change to apples, the demand for oranges will decrease while that of apples will increase. The demand curve is downward sloping. If demand increases, the demand curve will shift to the right. It is also referred to as moving outwards. In this case, the demand curve for apples will shift to the right.
B) <u>The price of peaches rises (because peaches are a substitute for apples).</u>
Substitutes imply a good can be used in place of another. If the price of a substitute increases, it demands decreases. The demand for the substitute good will go up. An increase in the price of peaches will increase the demand for apples. As a result, the demand curve will shift outwards. In other words, shift to the right.
C. People's incomes rise (and apples are a normal good).
Demand for normal goods increase as the people's income rises. More people will afford to buy apples. If people are now earning more, the demand for apples will go up. The demand curve will shift to the right to indicate a surge in demand.
Answer:
Larger-sq and small Se.
Explanation:
Regression line is a line that clearly describes the behavior of a given set of data.
Regression lines are very essential for forecasting processes. The importance of the line is to describe the interrelation of a dependent variable (Y variable) with one or many independent variables (X variable).
An analyst can forecast future behaviors of the dependent variable by making use of the equation gotten the regression line. This is done by inputting different values for the independent ones. Regression lines are frequently employed in the financial sector.
Financial analysts make use of linear regressions to forecast stock prices, commodity prices and also to carry out valuations for many different securities. Companies use regressions for the purpose of forecasting sales, inventories and a lot of other variables that are needed for strategy and planning. The regression line formula is represented below:
(Y = a + bX + u)
Answer: b) Supply is inelastic and demand is inelastic.
Explanation: Dead-weight loss is the loss in total surplus when a tax is imposed on a good which restricts demand and supply from balancing. When both the demand and the supply curves are inelastic, the effect of a tax will be lead to a small change in the quantity being traded in the market. Thus, the equilibrium quantity at the taxed price will not fall much and the dead weight loss will therefore, be smaller.
Answer:
Number of units needed to reach the operating income of 80,000: 5,200 units
Explanation:
Please find the below for detailed calculations and explanations:
To achieve $80,000 of operating income, denote the number of units needs to be sold is x.
For each unit sold, the incremental in profit will be 20.
Thus, to achieve the profit of 80,000, the amount of x units sold will generate the profit before fixed cost that covers 24,000 fixed cost and 80,000 targeted profit. So, we have:
80,000 + 24,000 = 20x <=> x = 5,200 units.
* For quick calculation purpose, we may apply the formular: Units need to be sold to achieve targeted income = (Fixed cost + targeted income)/ Contribution margin per unit in monetary form.
