E303lect26F09

E303lect26F09 - October 26, 2009 Collect Problem Set #7/ #8...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
October 26, 2009 Collect Problem Set #7/ #8 Problem Set #9 Posted – Due Friday Lecture 26 REVIEW___________________________________________________: III. Quantitative Demand Analysis c. Estimating Demand: Regression Analysis. Examples Example #2. Consider a regression with the log of data. lnQ i = 50 - .2 ln P i + .12ln A i (20) (.3) (.08) n = 12, R 2 = .68, - Interpret R 2 -. Does price alone explain movement in sales, Q i ? Notice finally, that we can make one further interesting insight with a log linear regression. Observe that η =-.2 Notice that two standard deviations about -.2 are not necessarily greater than zero. However, this interval does not include -1. Thus, we can conclude that we are on the inelastic portion of the demand curve. PREVIEW_________________________________________________ IV. Chapter 5. The Production Process and Costs A. Introduction: 1. Overview. 2. The Role of the Manager in the Production Process. B. The Production Function. 1 . Short Run Production. b. Relationships between Productivity Measures LECTURE__________________________________________________ IV. Chapter 5. The Production Process and Costs A. Introduction: 1. Overview. The purpose of this chapter is to provide tools allowing a manager to make better decisions about choosing which inputs to use in a production process, and what level of output to produce.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 3

E303lect26F09 - October 26, 2009 Collect Problem Set #7/ #8...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online