Econ 510
CONSULTING PROJECT
Pricing Decisions at PoolVac, Inc
PoolVac, Inc. manufactures and sells a single product called the Sting Ray, which is a
patent-protected automatic cleaning device for swimming pools. PoolVacs Sting Ray
accounts for 65 percent
Morris Graduate School of Management
ROBERT MORRIS COLLEGE
ECN 510 MANAGERIAL ECONOMICS
Instructor N. Marchenko
Exam 1 Explanation
1.
During a year of operation, a firm collects $450,000 in revenue and spends $100,000 on
labor expense, raw materials, rent
ECN 510
1. Qd = a + bP + cMavg + dPH
2728.8 10.758p + .021420Mavg + 3.166ph
2.
Slope -10.758 degree of freedom 2.074
n = 26 k = 4
|2.074| < -8.09
< 2.27
< 2.36
The parameters of b, c, and d are all statistically significant, because the absolute
values of
ECON 510
Page 153, #14 -16
14. An experiment has four equally likely outcomes: E1, E2, E3, E4.
a. What is the probability that E2 occurs?
b. What is the probability that any two of the outcomes occur (E1, E3)?
c.
What is the probability that any three o
ECN 510
Pre-assignment
Define or explain each of the terms:
Section 2.1
1. Demand curve-a graph showing the relation between quantity demanded and price
when all other variables influencing quantity demanded are held constant.
2. The difference between a
ECON 510
Probability
1.
An experiment is any process that generates well-defined outcomes.
2.
The sample space for an experiment is the set of all experimental outcomes.
3.
An experimental outcome is also called a sample point.
4.
An experiment has four e
Morris Graduate School of Management
ROBERT MORRIS COLLEGE
ECN 510 MANAGERIAL ECONOMICS
Instructor N. Marchenko
Exam 1
Name: Date: January 2, 2008
1.
During a year of operation, a firm collects $450,000 in revenue and spends $100,000 on
labor expense, raw
Econ 510
Chapter 5&6
11. Nationally, 38% of fourth-graders cannot read an age-appropriate book. The
following data show the number of children, by age, identified as learning disabled under
special education. Most of these children have reading problems t
ECON 510 Assignment #1
Pages 17 19, Exercises 2,5,8,10,11
2.
a. 9
b. 4
c. Qualitative: Country and Room Rate
Quantitative: Number of Rooms and Overall Score
d. Country is nominal; Room Rate is ordinal; Number of Rooms is ratio; Overall
Score is interval
5
Running head: INTERNATIONAL MANAGEMENT EVENT
1
International Event Management
Name
Institutional of Affiliation
INTERNATIONAL MANAGEMENT EVENT
2
TABLE OF CONTENTS
Introduction. 4
State Event Chosen.4
Swot Analysis.5
Strengths.5
Weaknesses.6
Opportunities.