Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Fawaz fadi lsus

08/01/2021 Client: saad24vbs Deadline: 24 Hours

Let’s examine the history of LSUS undergraduate enrollment vs. its tuition and fees. Go to this link (http://www.lsus.edu/offices-and-services/institutional-effectiveness-and-planning/fact-book) and look at the PDF “FACT BOOK 2015.” Collect two types of quantity data: the Fall Headcount for undergrads on pg. 6 (9 of the PDF), and the Total (summer, spring, and fall) student credit hour production on pg. 11 (8 of the PDF). Headcount data goes from 1984-2015, but credit hour data only goes from 1986-2015.


Next, go here to get tuition data: http://www.lsus.edu/offices-and-services/institutional-effectiveness-and-planning/lsus-data-profile, and look at the PDF “LSUS Data Profiles 2011-2012.” The price (undergraduate fall tuition and fees) data is on pg. 106. You will only need from 1984 through 2011; for the remaining years, use 2012 = $2,472, 2013 = $2,803, 2014 = $3,084, and 2015 = $3,355.


Calculate annual elasticities for both types of quantity variables (i.e., you will have an elasticity of price vs. headcount, and one of price vs. credit hour. You will get an error message in your calculations a few times when the tuition doesn't change, since the elasticity calculation will be trying to divide by zero. Just delete those in your Excel table. The first headcount elasticity will be calculated based on the 1984 and 1985 values of tuition and headcount and should be about -0.043; the first credit hour elasticity will be based on the 1987 and 1988 values and should be about 0.394). Calculate the average elasticity for headcount (from 1985-2015), and the average elasticity for credit hour (from 1988-2015).


Question 1


Correct


Mark 1.00 out of 1.00


Flag question


Question text


The headcount elasticity between the years 2010-2011 is approximately equal to


Select one:


a. 0.216


b. -0.394


c. -0.357


d. 4,134


Feedback


Question 2


Correct


Mark 1.00 out of 1.00


Flag question


Question text


The average (over all years) headcount elasticity is approximately _______. Demand in terms of headcount would be considered ________.


Select one:


a. 2,775; elastic.


b. -0.176; inelastic.


c. -5.68; elastic.


d. -1.70; elastic.


Feedback


Question 3


Correct


Mark 1.00 out of 1.00


Flag question


Question text


The average (over all years) credit hour elasticity is approximately _______.


Select one:


a. -0.2245; this better demonstrates the law of demand since tuition is on a per-12-credit-hour basis, so credit hour is a more appropriate quantity variable to use than headcount.


b. -4.45; this is unexpected since credit hour demand should be inelastic.


c. 0.414; this is unexpected since the relationship between tuition and credit hours should be negative according to the law of demand.


d. 0.394; this is unexpected since the value is too small. Demand should be considered elastic and thus the value should be greater than 1.0.


Feedback


Question 4


Correct


Mark 1.00 out of 1.00


Flag question


Question text


Many administrators argue that, to increase revenue to LSUS to cover budget shortfalls, tuition should be raised. The credit hour elasticity estimate suggests that


Select one:


a. tuition should only be decreased, since the elasticity value is negative. Raising tuition will only decrease the amount of revenue LSUS enjoys.


b. increasing fees may reduce credit hours, but not by much since credit hour demand is inelastic (in the data analyzed above). Raising fees hypothetically would increase LSUS revenue.


c. raising tuition will increase credit hours, since the elasticity is unexpectedly negative.


d. raising fees would be detrimental to LSUS' budget, since the law of demand says that fewer credit hours will be pursued as a result. Fewer credit hours would mean less revenue for LSUS.


Feedback


Information


Flag question


Information text


Use the following data to answer the questions below.


P


Q


$130


78


$110


155


$90


246


$70


318


$50


397


Question 5


Correct


Mark 1.00 out of 1.00


Flag question


Question text


Using OLS, the estimated inverse demand function (P = f(Q)) is


Select one:


a. Q = 149.56 - 0.25P


b. P = 599.65 - 4.01Q


c. Q = 599.65 - 4.01P


d. P = 149.56 - 0.25Q


Feedback


Question 6


Correct


Mark 1.00 out of 1.00


Flag question


Question text


Using algebra to transform the indirect demand function, the direct demand function (Q = f(P)) is


Select one:


a. Q = 118.67 - 52.18P


b. Q = 1.26 + 0.0048P


c. P = 599.65 - 4.01Q


d. Q = 599.65 - 4.01P


Feedback


Question 7


Correct


Mark 1.00 out of 1.00


Flag question


Question text


Using calculus to determine dQ/dP, construct a column which calculates the point-price elasticity for each (P,Q) combination. What is the point price elasticity of demand when P=$90?


Select one:


a. -6.682


b. -0.883


c. -1.467


d. -0.505


Feedback


Question 8


Correct


Mark 1.00 out of 1.00


Flag question


Question text


What is the point price elasticity of demand when P=$83?


Select one:


a. 0.018


b. -1.247


c. -1.351


Feedback


Question 9


Correct


Mark 1.00 out of 1.00


Flag question


Question text


To maximize total revenue, what would you recommend if the company was currently charging P=$83? If it was charging P=$70?


Select one:


a. Price should be raised above both $70 and $83.


b. Raise the price if it is currently $83; lower the price if it is currently $70.


c. Lower the price if it is currently $83; raise the price if it is currently $70.


d. Price should be lower than both $83 and $70.


Feedback


.


Question 10


Correct


Mark 1.00 out of 1.00


Flag question


Question text


Use your algebraically-derived direct demand function to determine an equation for TR and MR as functions of Q. What is total revenue when P=$83 and when P = $70?


Select one:


a. At P = $83, TR = $22,150; at P = $70, TR = $22,338.


b. At P = $83, TR = $45,676; at P = $70, TR = $50,122.


c. At P = $83, TR = $8,459; at P = $70, TR = -$3,442.


d. At P = $83, TR = $12,458; at P = $70, TR = $35,790.


Feedback


Question 11


Correct


Mark 1.00 out of 1.00


Flag question


Question text


What is the total-revenue maximizing price and quantity, and how much revenue is earned there?


Select one:


a. P* = $90, Q* = 246, TR* = $21,698


b. P* = $74.78, Q* = 299.82, TR* = $22,421


c. P* = $70, Q* = 318, TR* = $22,338


d. P* = $83, Q* = 266.87, TR* = $22,150


Feedback


Information


Flag question


Information text


Illustration 7.3 (p. 262-3) describes time-series forecasting of new home sales, but you can see that the data is old. Visit the website indicated, click on the Historical Data tab, and download the first table “Houses Sold” (Excel file is sold_cust.xls). Look at the monthly data on the “Reg Sold” tab.


Only keep the dates beginning in January 2008, so delete the earlier observations. Keep only the US data, both the seasonally unadjusted monthly (column B) and the seasonally adjusted annual (column G). Make a new column of seasonally adjusted monthly by dividing the annual data by 12. Make a column called “t” similar to the book’s column 4 on page 263 (t will go from 1 to 105 through Sept. 2016); make a t2 column too (since, if you look at the data, you can see sales dropping until about mid-2011 then rising again; hence the quadratic). Also make a column “D” that is a dummy variable equal to one during the spring and summer months, similar to the book’s column 5.


Determine the correlation between the unadjusted and the adjusted monthly data (=CORREL(unadjust., adjust.) in Excel), and produce scatterplots (with connectors) of both.


Question 12


Correct


Mark 1.00 out of 1.00


Flag question


Question text


Do you think making a seasonal adjustment will be useful, given what you observe at this point?


Select one:


a. No since, even though the unadjusted is more volatile than the adjusted, it is expected to be and thus making the adjustment will not improve the analysis.


b. Yes, since the seasonally unadjusted data traces a smoother path (graphically speaking) than the seasonally adjusted data.


c. No, since there is no discernible difference between the two data series, as far as is evident in the graph.


d. Yes since, even though they follow the same general trend, the seasonally unadjusted data is predictably more volatile than the seasonally adjusted data.


Feedback


Information


Flag question


Information text


Run four regressions:


seasonally unadjusted monthly as the dependent, and t and t2 as the independents,

seasonally unadjusted monthly as the dependent, and t, t2, and D as the independents,

seasonally adjusted monthly as the dependent, and t and t2 as the independents, and

seasonally adjusted monthly as the dependent, and t, t2, and D as the independents.

In interpreting your p-values, remember that, say, 1.0E-08 is 1.0 * 10^-8, which is 0.00000001


Question 13


Correct


Mark 1.00 out of 1.00


Flag question


Question text


In comparing the regression results between model 1 and 2 (the unadjusted sales), it is notable that including the extra variable D in model 2


Select one:


a. increases the R2 as expected but reduces the adjusted R2, suggesting that D does not contribute to the explanatory power of the model.


b. makes the t and t2 variables statistically insignificant in model 2, whereas they were significant in model 1.


c. dramatically improves the explanatory power of the model.


d. increases the R2, but it is insignificant and has an unexpected sign.


Feedback


Question 14


Correct


Mark 1.00 out of 1.00


Flag question


Question text


In comparing the regression results between models 2 and 3, it is notable that


Select one:


a. including the D variable in model 2 results in a much larger adjusted R2, suggesting that the inclusion of the dummy variable is necessary to boost predictive power.


b. dropping the D variable in model 3 pulls the R2 down, which is unexpected since D in model 2 is statistically insignificant.


c. the D variable in model 2 does a decent job of capturing the seasonal effect, since the results between the two models are not hugely different and D has the expected sign and is statistically significant.


d. the coefficient estimates for t and t2 change dramatically, even though the models are very comparable (unadjusted with a seasonal dummy is pretty close to seasonally adjusted).


Feedback


Question 15


Correct


Mark 1.00 out of 1.00


Flag question


Question text


The regression results for model 4 are notable because


Select one:


a. adding the redundant D variable to the seasonally adjusted data causes the coefficient estimates for t and t2to be dramatically different than they were in models 2 and 3.


b. adding a redundant seasonal dummy to already seasonally-adjusted data results in the D variable being insignificant, as expected, and the model's explanatory power is essentially the same as models 2 and 3.


c. making the seasonal adjustment in the dependent variable, in addition to adding the D dummy, yields the best results in terms of significant coefficients, explanatory power, and expected signs.


d. the adjusted R2 is higher than in the comparable model 3 (without the D).


Feedback


Information


Flag question


Information text


Conlan Enterprises has the following demand function:


Q = a + bP + cM + dPR


where Q is the quantity demanded of the product Conlan Enterprises sells, P is the price of that product, M is income, and PR is the price of a related product. The regression results are:


Dependent Variable: Q


R2


F-ratio


p-value on F




Observations: 32


0.7984


36.14


0.0001




Variable


Parameter Estimate


Standard Error


T-ratio


P-value


Intercept


846.30


76.70


11.03


0.0001


P


-8.60


2.60


-3.31


0.0026


M


0.0184


0.0048


3.83


0.0007


PR


-4.3075


1.230


-3.50


0.0016


Question 16


Correct


Mark 1.00 out of 1.00


Flag question


Question text


Do you think these regression results will generate good sales estimates for Conlan?


Select one:


a. Yes; the parameter estimates have expected signs, the individual coefficients are statistically significant at the 1% level, and the R2 is high.


b. Yes, except that the R2 is too low to be convincing. The rest of the results (p-values, expected signs) are satisfactory.


c. No; though the R2 is good and the variables have the expected signs, the estimated coefficients are not statistically significant.


d. No; the estimated coefficient for P should be positive, not negative.


Feedback


Information


Flag question


Information text


Now assume that the income is $10,000, the price of the related good is $40, and Conlan chooses to set the price of its product at $30.


Question 17


Correct


Mark 1.00 out of 1.00


Flag question


Question text


What is the estimated number of units sold given the data above?


Answer:


Feedback


Question 18


Correct


Mark 1.00 out of 1.00


Flag question


Question text


What are the values for the own-price (E), income (EM), and cross-price (EXR) elasticities?


Select one:


a. E =2.60, EM = 0.0048, EXR = 1.230


b. E = -0.43, EM = 0.307, EXR = -0.287


c. E =-3.31, EM = 3.83, EXR = -3.50


d. E = -8.6, EM = 0.0184, EXR = -4.3075


Feedback


Question 19


Correct


Mark 1.00 out of 1.00


Flag question


Question text


If P increases by 5%, what would happen (in percentage terms) to quantity demanded?


Select one:


a. Q changes by 5% * -0.43 = -2.15%.


b. Q decreases by 0.43%.


c. Q decreases by 5%.


Feedback


Question 20


Correct


Mark 1.00 out of 1.00


Flag question


Question text


If M increases by 8%, what would happen (in percentage terms) to quantity demanded?


Select one:


a. Q falls by 0.307%.


b. Q decreases by 0.48%.


c. Q increases by 1.84%.


d. Q increases by 8% * 0.307 = 2.45%.


Feedback


Question 21


Correct


Mark 1.00 out of 1.00


Flag question


Question text


If PR decreases by 4%, what would happen (in percentage terms) to quantity demanded?


Select one:


a. Q rises by 1.15%.


b. Q increases by 1.230%.


c. Q increases by 4.3075%.


d. Q falls by 4% * -0.287 = 1.15%.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

University Coursework Help
Helping Hand
Top Essay Tutor
Writer Writer Name Offer Chat
University Coursework Help

ONLINE

University Coursework Help

Hi dear, I am ready to do your homework in a reasonable price.

$62 Chat With Writer
Helping Hand

ONLINE

Helping Hand

I am an Academic writer with 10 years of experience. As an Academic writer, my aim is to generate unique content without Plagiarism as per the client’s requirements.

$60 Chat With Writer
Top Essay Tutor

ONLINE

Top Essay Tutor

I have more than 12 years of experience in managing online classes, exams, and quizzes on different websites like; Connect, McGraw-Hill, and Blackboard. I always provide a guarantee to my clients for their grades.

$65 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

How to create a bell curve in excel 2007 - Advertising's goal is to enhance - Www koi moodle - Example of a character sketch bible study - Practical Connection Assignment - Physical Security class - Can someone do my Week 3 work for me Discussion 1 & 2 and Week 3 Assignment in Organizational Behavior? - Binary signed to unsigned - Financial management in the hospitality industry - Thin layer chromatography lab report answers - Ebay trading api wsdl - The interesting narrative of the life of olaudah equiano questions - Cvc phoneme frames sparklebox - MKTG201 Week 3 Quiz - 40 n 116 e - Bob jane puncture repair cost - Spss export to word - Civil engineering uts atar - Ldr circuit using op amp - Discussion! - Project: Part 4: Identification of a Policy Alternative-6361-wk9 - Pseudotsuga menziesii glauca pendula - Needs assessment - First class lever examples - Sodium chloride and sodium carbonate balanced equation - School uniforms help students focus - ℂhild/Baby+91-9829866507 ℙroblem Solution Specialist Molvi Ji - Medicare levy variation declaration - Inverse square law radiation graph - God's mission is characterized by - REFLECTION - Telemachus in the odyssey - Algorithm - Love suicides at amijima pdf - Daniel rooke character analysis - Hunger games interactive story - How to make a survivorship curve on excel - Speed reading course melbourne - Csi web adventures rookie training - Beta of two asset portfolio - Lamoids - Human genetic disorders ppt - Johnny b good chords - An interview of an entrepreneur discussion - Potassium hydrogen phthalate equivalent weight - Handle me with care karaoke - Dicussion ( Principle of Economics) SJ Week 5 - Pr 2 3a journal entries and trial balance - To bid or not to bid - Decision making process under certainty uncertainty and risk - Police scanner codes list victoria - Star in a box - Girl scout cookie club - Four elements of natural selection - Develop research for construction industry - Three soldiers bruce holland rogers - Plotting stars on the hr diagram worksheet - How has hester's appearance changed - 9 competencies of social work - Variable resistor in multisim - Electric field mapping lab report answers - Instructional design smith and ragan 2nd edition pdf - Physics 30 momentum and impulse - 1800 mm in cm - Engineering double degree curtin - Expulsion type lightning arrester - Citationmachine net apa cite a book - Executive Memo Assignment - Direct shear test lab report pdf - Alien periodic table answers - Bad reviews is the opportunity - Apa citation for silver linings playbook - Phet circuit dc only - Requesting help to answer 9 Philosophy questions-200 word responses for each. - Me2u credit transfer optus - Hills home hub 600 - I need this file un plagiarize within 48 hours from now - Dsm 5 made easy pdf - If poem by rudyard kipling meaning - Dr briffa plastic surgeon malta - Describing a scene essay - 2hours - Steiner and steiner business government and society - Managerial accounting - 2 pages - Hating alison ashley characters - Operational excellence refers to companies that ________. - The life cycle of a wolf - Over voltage protection pdf - Valve handbook for new employees pdf - Child family school community 10th edition - Varsouviana polka sheet music - Vorpal part of speech - Cigweld transtig 200 ac/dc - Snap on verdict problems - Java Hw - Aqueous iodine solution apf dosage - You can t get lost in cape town sparknotes - Accounts payable procedures flowchart - Arabic to english translation in riyadh - Soap case notes social work