Answer:
b). 72.458 %
a). 24, 213
Explanation:
1). The second option i.e. 72.458% correctly measures the variance percentage brought in the dependent variable(regressed the quantity demanded) by manipulating the independent variable(price elasticity). The first option is wrong as it shows R multiple which is rather the coefficient. The third and the last options are incorrect as they display the intercept employed to determine the quantity and the key error of calculating the standard deviation.
2). The predicted quantity demanded would be 24,213 if the price is fixed at $7.00.
It can be calculated using the formula;
Quantity demanded = Intercept + (Adjusted R squared * Price coefficient)
∵ Quantity Demanded = 56,400.50 + (7 X -4,598.2)
= 24,213
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I feel stressed reading this question as it has no context but the question is asking for your opinion. there really is no wrong answer
Answer: Edit option allows everyone in a group to edit the contents work
Explanation:
Hope it helps
Answer:
Allocated costs Loin Chop= $5,590
Explanation:
Giving the following information:
Product - Pounds - Price/lb.
Loin chops 3,000lb $ 5.00/lb
Ground 10,000lb $2.00/lb
Ribs 4,000lb $4.75/lb
Bacon 6,000lb $3.50/lb
The total joint cost for the current period was $43,000
First, we need to calculate the weighted average lb participation of Loin Chops:
Total lb= 23,000
Weighted average lb= 3,000/23,000= 0.13
Now, we can allocate the joint costs:
Loin Chop= $43,000*0.13= $5,590
