Supply, Demand, Equilibrium, and Disequilibrium 2016 Jane Himarios
1
Markets
Markets bring buyers and sellers together so they can interact and transact with
each other.
Lets start by thinking about markets where there are shortages or surpluses.
Heres an
Chapter 2 Opportunity Cost Practice
The economy shown here can produce toothbrushes and toothpaste.
Three of the many points of production that are possible for this economy are points A, B, and
C. Point A shows the production combination of _ tubes of to
Elasticity
From supply and demand material you learned the direction of changes in price and quantity
traded when supply or demand change:
If
D
D
S
S
Then
P and Q
P and Q
P and Q
P and Q
An important question is by how much will quantity traded change whe
2016 Jane Himarios
1
Chapter 2: The Power of Trade and Comparative Advantage
Production Possibilities Frontier
The production possibilities frontier (PPF) shows the combinations of goods that
are possible for a society to produce at full employment.
PPFs
Econ 5311-081
Economics
Fall 2016
Himarios
Course Calendar, Including Office Hours, Course Coverage, Assignment Deadlines and Exam Dates
Week
2
Sunday
Oct 23
Monday
Oct 24
Class 1-4pm
Syllabus;
Set Groups;
Chapter 2 The
Power of Trade and
Comparative
Adva
Consumer and Producer Surplus 2016 Jane Himarios
1
I.
Markets
A.
Markets are usually efficient mechanisms for allocating resources
This means that markets usually produce exactly the right amount of a good and
that they dont waste resources.
Five Institut
Shortages and Surpluses Worksheet
1. Complete Table 1:
If the price of
cabbages is
Then buyers
are willing
and able to
buy
And sellers
are willing
and able to
sell
$0
$1
$2
$3
$4
$5
$6
$7
$8
$9
$10
100
90
80
70
60
50
40
30
20
10
0
0
15
30
45
60
75
90
105
If the price
per can of
Coke is
Then buyers
are willing
and able to
buy
And sellers
are willing
and able to
sell
$3
$2
$1
$0.75
$0.50
10 cans
20 cans
25 cans
30 cans
35 cans
40 cans
30 cans
25 cans
20 cans
15 cans
Graphing Space:
Tell whether
there is mar
Question 1. 1. (TCO D) As a project manager, dealing with conflict is part of the job. There are many
sources of conflict; one source that is often overlooked is the manager. Based on the Week 4 reading and
lecture, what managerial actions can cause workp
Group Peer Evaluation Form
Grade yourself and your other two group members using the following values
1 Needs to Change
2 Some Improvement Needed
3 Average
4 Good
5 Very Good
In Each Column Below Print the Last Name of the Student
NAME of Student
Dimensio
Group Contract: Specify the responsibilities of each group member. At the bottom indicate
when the group will meet. After the assignment has been submitted, each member will grade all
other members on how well they met their responsibilities. If a student
SAS - Multicollinearity and All-Possible Regressions Model Building
1. Import the cardata set as we did not outliers and influential observations.
2. Start the regression procedure using MPG as Y and the other four as the Xs. On the
Statistics menu item c
SAS - Graphing the Data, Outliers and Influential Points
1. Open the file https:/wweb.uta.edu/faculty/eakin/busa5325/cardata.xls and upload the file
data into SAS.
2. It is always a good idea to plot the data before doing any other analysis. To obtain a
s
Simple Linear Regression Using SAS.
1. Import the data into SAS. The data set I am using is the percent of people in a state that have a high school
degree, the percent with a Bachelor's, the percent with an advanced degree and the percent of the populati
Chi-Square Test of a Contingency Table Using SAS
1. Import the data containing the two qualitative variables into SAS. Click on the Describe menu and
choose Table Analysis:
2. In the menu on the left, click on Data. Next after clicking on your first quali
Running a One-Way Analysis of Variance in SAS
1. Import data. (Be sure that it is formatted correctly with each observation being a row)
2.Click on Analyze, ANOVA, and then One-Way ANOVA
3. Click on the qualitative variable (the Factor), click the right-a
Calculating the Sample Mean, Sample Standard Deviation, Sample
Standard Error and Confidence Interval for the Population Mean
1. After importing your data, click on Describe and then click Summary Statistics
2. When the new Pop-up Menu occurs, click on th
While it is far easier to create a new variable in Excel and then import the data set with the old
and new variables into SAS, it is also possible to create in SAS new variables which are
functions of existing ones.
!. After importing the data from Excel,
Exam 6 - A
1. What is a disadvantage of time-series smoothing techniques?
A. No t-tests are performed to judge statistical significance.
B. They do not measure the trend.
C. They are for one time period only.
D. Maximum likelihood estimation produces bias
QUESTIONS 1-8 DEAL WITH THE FOLLOWING SITUATION: Stock Prices, Y, are assumed to be
affected by the annual dividend rate, X1, and annual return on equity, X2. A first order regression was fit to the data
and the following analysis resulted.
Sum of
Mean
So
BUSA 3322 Final, Spring 2007 - Version Green, Printed Name_
By signing below I state that I understand that academic dishonesty can result in punishment resulting
in at least a zero on this test and could include expulsion from the university and that all
EXAMPLE EXAM QUESTIONS ON SIMPLE LINEAR REGRESSION
Questions 1-7 refer to the following situation: Stock Prices, Y, are assumed to be affected by the annual rate
of dividend of stock, X. A simple linear regression analysis was performed on 20 observations
Randomized Block and Two-Factor Notes
1. Randomized block: Read the material at
http:/wps.prenhall.com/wps/media/objects/9431/9657451/Ch_11/levine-smume6_topic_1103.pdf
1.1 Experimental situation:
Two factors one of the factors group observations (block).
Time Series Analysis
1. Classical Decomposition additive or multiplicative effects
Trend long run
Seasonal periodic business patterns (months, weeks, days)
Cyclical business conditions (recessions, inflations)
Error randomness
Use in Bureau of Labor S
Multiple Regression and Model Building
The Quadratic Regression Model
Using Transformations in Regression Models
Bootstrapping
Influence Analysis
Multicollinearity
Model Building
1. Quadratic Regression Model
1.1 Use
The change in the dependent value of
Modeling Qualitative Variables (Dummy Variables) with Regression
I. Modeling values as base and differences
On July 19th, 2011 Dell computers offered a base Inspirion 600 for $299.99. A buyer is allowed
to customize this computer. One of the choices was t
Multiple Linear Regression Notes Introduction
Relationships
Estimating Multiple Linear Functions
Sources of Variability
Assumptions
Assumption Checks
Testing for the effect of all the variables
Inferences about each coefficient
Testing the effect of some
Simple Linear Regression Notes
Relationships
Estimating the Simple Linear Function
Measures of Variation
Assumptions
Assumption Checks
Slope
Estimate Averages
Predict Individual Values
NCSS
What you should be able to do when you finish the notes
o Discuss