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icang [17]
3 years ago
10

A county real estate appraiser wants to develop a statistical model to predict the appraised value of houses in a section of the

county called East Meadow. One of the many variables thought to be an important predictor of appraised value is the number of rooms in the house. Consequently, the appraiser decided to fit the simple linear regression model:
Yhat = β0 + β1X

where Y = appraised value of the house (in $thousands) and X = number of rooms in the home. Using data collected for a sample of n = 74 houses in East Meadow, the following results were obtained:

Yhat = 74.80 + 19. 70X



Range of the x-values: 5 - 11

Range of the y-values: 160 - 300

Give a practical interpretation of the estimate of the slope of the least squares regression line.

A)For a house with 0 rooms, we estimate the appraised value to be $74,800.

B)For each additional room in the house, we estimate the appraised value to increase $74,800.

C)For each additional dollar of appraised value, we estimate the number of rooms in the house to increase by 19.70 rooms.

D)For each additional room in the house, we estimate the appraised value to increase $ 19, 700.
Business
1 answer:
almond37 [142]3 years ago
5 0
Approximately about a minimum of log and cosine
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Garcia Company reports the following information: Net operating income after taxes $100,000 Before-tax operating income $300,000
Andrew [12]

Answer:

B) $50,000

Explanation:

Cost of Capital is the rate which is required by the capital investment by the shareholders or owners of the business. Residual Income is the portion of net income after paying the investors of the company. This income is reinvested or retained by the business.

Net operating Income after tax = $100,000

Average Invested Capital = $500,000

Cost of Capital = $500,000 x 10% = $50,000

Residual Income = Net Income - Cost of capital

Residual Income = $100,000 - $50,000

Residual Income = $50,000

7 0
3 years ago
When the government runs a budget deficit, we would expect to see that:.
zaharov [31]

Answer:

We will expect to see the government spending more of the money than it is bring to the table/bringing in the money, and in this situation the national savings will be decreasing, and when they do lower, the investments/primary stores will also be decreasing. And if this happen the lowering investments leads to lower long-term economic growth.

Explanation

8 0
2 years ago
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The supply-side method identifies the effect sponsorship has on consumers' brand knowledge.
Mamont248 [21]
I think is true not sure tho.
8 0
3 years ago
The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses i
alekssr [168]

Answer:

The Gourmand Cooking School

1. Planning Budget for September:

                                         Fixed Cost  Cost per  Cost per  Planning

                                         per Month   Course    Student   Budget

Instructor wages                                $ 2,960                      $11,840

Classroom supplies                                              $ 270       16,740

Utilities                               $ 1,220        $ 75                          1,520

Campus rent                     $ 4,800                                         4,800

Insurance                          $ 2,300                                         2,300

Administrative expenses $ 3,900        $ 44           $ 7          4,510

Total                                                                                      $41,710

2) Flexible Budget for September:

                                         Fixed Cost  Cost per  Cost per  Flexible

                                         per Month   Course    Student   Budget

Instructor wages                                $ 2,960                      $11,840

Classroom supplies                                              $ 270        15,120

Utilities                               $ 1,220        $ 75                          1,520

Campus rent                     $ 4,800                                         4,800

Insurance                          $ 2,300                                         2,300

Administrative expenses $ 3,900        $ 44           $ 7         4,468

Total                                                                                   $40,048

3. The Revenue and Spending Variances for September (based on flexible budget):

                                        Planning  Flexible    Actual     Spending

                                        Budget    Budget                     Variance

Revenue                         $55,180 $46,280   $52,280    $6,000  F

Instructor wages             $11,840   $11,840     $11,120        $720  F

Classroom supplies         16,740     15,120      16,590        1,470  U

Utilities                               1,520      1,520         1,930           410  U

Campus rent                     4,800     4,800        4,800            0     None

Insurance                          2,300     2,300        2,440           140  U

Administrative expenses  4,510     4,468        3,936          532   F

Total                               $41,710 $40,048    $40,816        $768  U

Explanation:

a) Data and Calculations:

Sales price per student = $890

Planned number of courses = 4

Planned total number of students = 62

Actual number of courses ran = 4

Actual total number of students = 56

Data concerning the company’s cost formulas appear below:

                                         Fixed Cost  Cost per  Cost per

                                         per Month   Course    Student  

Instructor wages                                $ 2,960                  

Classroom supplies                                              $ 270  

Utilities                               $ 1,220        $ 75                      

Campus rent                     $ 4,800                                

Insurance                          $ 2,300                                    

Administrative expenses $ 3,900        $ 44           $ 7  

Actual Results:

Actual Revenue $ 52,280

Instructor wages $ 11,120

Classroom supplies $ 16,590

Utilities $ 1,930

Campus rent $ 4,800

Insurance $ 2,440

Administrative expenses $ 3,936                                                                        

4 0
2 years ago
A firm knows that Mike’s income elasticity of demand for hair ties is 5 while for Sally it is 0.2. A firm can reason that a hair
bonufazy [111]

Answer:

1) Luxury

2) Necessity

Explanation:

1)The hair tie is a luxury good for Mike because Mike has a income elasticity of 5 which means that if mike's income decreases 1% his demand for the good decreases 5%, which shows that his demand for this good is highly sensitive to his income which is a characteristic of luxury goods, as you only buy luxury goods when your income increases.

2) It is a necessity for Sally because her income elasticity to the good is 0.2 which means every 1% change in income changes her demand by just 0.2%, which shows demand is not very sensitive to income and the quantity she buys them in dont rely much on her income, which is a sign of a necessity, you buy a certain amount of necessities regardless of your income.

6 0
3 years ago
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