Multiple choice problems about regression coefficient.
1) The range of values in which we can be confident which the true regression coefficient lies within a given degree of probability is called a:
a) confidence interval.
b) logistic regression.
c) prediction interval.
d) none of the above
2) Which of the subsequent approaches to understanding and predicting consumer behaviour depends primarily on the knowledge and experience of a company's employees and its suppliers?
a) Direct consumer surveys.
b) Test marketing and price experiments
c) Expert opinion.
d) Analysis of historical data.
3) An approach to analyzing consumer behaviour in which consumer reaction to different prices is analyzed in a laboratory situation or a test market is called:
a) focus groups.
b) price experiments.
c) non-price experiments.
d) none of the above.
4) Which of the subsequent is true of the relationship among the marginal cost function and the average total cost function?
a) The ATC curve intersects the MC curve at minimum MC.
b) The MC curve intersects the ATC curve at minimum ATC.
c) If MC is greater than ATC, then ATC is falling.
d) If MC is less than ATC, then ATC is increasing.
5) The technique which estimates long-run costs and the minimum efficient scale by determining the scale of operation at which most companies in an company are concentrated is called the:
a) back-of-the-envelope approach
b) engineering estimation technique
c) statistical cost estimation technique
d) survivor approach
6) The list of the major factors which create economies of scale includes all of the subsequent except:
a) specialization and division of labour.
b) quantity discounts.
c) an increase in demand for the company's output.
d) the use of automation devices.
7) Which of the subsequent is likely to limit the ability of a company to minimize production costs?
a) The company faces limited competition.
b) Resistance by labour.
c) The fact which the company is a non-profit organization.
d) All of the above
8) Which of the subsequent statements about the beer company is false?
a) Total employment in the company has increased substantially as a result of increased
demand for beer.
b) Over the last 30 years, technological change has resulted in substantial economies of scale in the company.
c) The five largest companies in the company control approximately 97 percent of the market.
d) The current minimum efficient scale in the company is approximately 8 million barrels per year.
9) You have the subsequent demand equation for a pack of cigarettes: Q = 200 - 0.30P with the average quantity 3 packs and average price $3)00 per pack. Illustrate what is the price elasticity?
10) The total sum of squares is 400 and the sum of squares errors is 100, illustrate what is the coefficient of determination?