Answer:
y = 7.678X + 357.614 ;
518.852 ; 526.53 ;
Week 78;
Explanation:
Given the data :
Week Number Week Number Week Number
1 370 7 415 13 450
2 380 8 425 14 455
3 390 9 435 15 475
4 380 10 425 16 485
5 390 11 435 17 495
6 395 12 445 18 505
The linear trend line for expected freight car loading obtained using a linear model calculator is :
y = 7.678X + 357.614
y = expected freight car loading
X = week
m = slope = 7.678 ;
c = intercept = 357.614
B.)
predicted loading for week 21:
X = 21
y = 7.678(21) + 357.614 = 518.852
Predicted loading for week 22:
y = 7.678(22) + 357.614 = 526.53
C.)
Week loading volume should exceed 950:
y = 950
950 = 7.678X + 357.614
950 - 357.614 = 7.678X
592.386 = 7.678X
X = 592.386 / 7.678
X = 77.153685
X = 78 (should exceed 950)
Answer:
The income elasticity of demand for Patty's Pizza is 1. Positive income elasticity shows that Pizza is a normal good.
Explanation:
The annual income of the student's is $10,000.
The annual quantity demanded for patty's pizza is 50 units.
When the income increases to $12,000, the quantity demanded will also increase to 60 units.
There is a positive relationship between the quantity demanded of pizza and income level.
This indicates that pizza is a normal good.
The income elasticity of pizza is 1, the solution is given in the figure below:
Answer:
The correct answer is letter "D": benefit exceeds its marginal cost.
Explanation:
The marginal cost represents the cost of acquiring one more unit of a given good or service. It allows recognizing what is the optimum level of consumption of a given product. If the benefit obtained from acquiring that additional good or service is higher than its marginal cost, then we could say it is worth it to get it.
Answer:
B. it cannot adjust the quantity of fixed inputs
Explanation:
The short run is the conceptual time period where at least one factor of production is fixed in amount while other factors are variable in amount.
Fixed costs have no impact on a firm's short run decisions
