Homework Chapter 7
1. To calculate GDP using the expenditures (aggregate spending) approach which of the following would be
included (pick all that apply)?
a.
b.
c.
d.
e.
f.
Consumer spending
Exports
10-25 (3040 min.) Linear cost approximation.
Difference in cost $533,000 $400,000
m = W=$33-OO
l. Slope coefcient (6)
Constant (a) $533,000 ($38.00 X 6,500)
$286,000
Cost function $286,000 + ($38.00 x
10-26 (20 min.) Cost-volumeprot and regression analysis.
Total manufacturing costs
1a. Average cost of manufacturing _
Number of blcycle frames
= $1056000 = $33 per frame
32,000
This cost is higher th
10-24 (20 min.) Estimating a cost function, high-low method.
1. See Solution Exhibit 10-24. There is a positive relationship between the number of
service reports (a cost driver) and the customer-serv
10-23 (1520 min.) Estimating a cost function, high-low method.
1. The key point to note is that the problem provides high- -low values of X (annual round
trips made by a helicopter) and Y+ X (the oper
SOLUTION EXHIBIT 10-25
Linear Cost Function Plot of Professional Labor-Hours
on Total Overhead Costs for Chicago Reviewers GrouE
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Fixed and total costs in 2013:
Dollar
Fixed Increase in Fixed Costs Variable Total
Costs Percentage Fixed Costs for 2013 Costs for Costs
for 2012 Increase (13) = (14) = 2013 (16) =
Account (11) (12) (
10-27 (25 min.) Regression analysis, service company.
1. Solution Exhibit 10-27 plots the relationship between labor-hours and overhead costs and
shows the regression line.
y = $48,271 + $3.93 X
Econo
SOLUTION EXHIBIT 10-28
Canton Manufacturing
Purchase Costs for Part #4599
R2 = 0.9854 ,.,
GI
in
rt:
.5
u
h
3
l
"6
13'
O
U
500 1,000 1,500 2,000 2,500 3,000 3,500 4,000
Quantity Purchased
According t
10-28 High-low, regression
1. Melissa will pick the highest point of activity, 3,390 parts (March) at $14,400 of cost, and the
lowest point of activity, 1,930 parts (August) at $8,560.
Cost driver:
Qu
Chapter 11
The Control of Gene Expression
Reading Assignment:
!
Chapter 11, The Control of Gene Expression
Terms to Dene:
- gene expression
- lac operon
- promoter
- operator
- operon
- repressor mole
Question1
1outof1points
TheKansasmarketforcornisconsideredacompetitivemarket.Thismeansthereare
_buyersand_sellersofcorninKansas.
Selected
Answer:
many;many
Question2
1outof1points
Which of the graphs
Chapter 2 Appendix: Graphs in Economics
Getting the Picture
Whether youre reading about economics in the Wall Street Journal or in your economics textbook, you will see
many graphs. Visual images can
Agenda Week 1 5/19 5/25
Success in this Course
This week's focus is on developing the skill sets necessary to get the most from this class. We will begin the
actual study of economics next week.
Learn