Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 28, 2024

The relationship between income x and expenditure y was estimated by the following regression equation. hat ( y ) = 2 0 0 + 0

The relationship between income

x

and expenditure

y

was estimated by the following regression

equation.

hat

(y) = 200 + 0.7 x

If a person has income

3200,

what is the predicted expenditure?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Economics A Problem-Solving Approach

Authors: Luke M. Froeb, Brain T. Mccann

2nd Edition

B00BTM8FK0

More Books

Students also viewed these Economics questions

Question

★★★★★

The Michelin Warehousing and Transportation Company (WTC) needs $300,000 to finance an anticipated expansion in receivables due to increased sales. WTC's credit terms are net 60, and its average...

Answered: 1 week ago

Question

★★★★★

Consider a firm which produces a good, y, using two inputs or factors of production, x1 and x2. The firm's production function describes the mathematical relationship between inputs x1 and x2 and...

Answered: 1 week ago

Question

★★★★★

2. What are the demand schedule and the demand curve, and how are they related? Why does the demand curve slope downward?

Answered: 1 week ago

Question

★★★★★

1. Describe Gores global organizational design challenge? 2. What should Gore do to build effective global teams? 3. How will Gores culture affect the virtual global teams? 4. What is Gores strategy...

Answered: 1 week ago

Question

★★★★★

please dont use chat gpt or other AI 5 2 5 .

Answered: 1 week ago

Question

★★★★★

You are evaluating a project for your company. The initial outlay for the project is $5,000,000, and free cash flows for the project are $1,000,000, $3,000,000, $3,000,000, $4,000,000 and $4,000,000....

Answered: 1 week ago

Question

★★★★★

To run a diagnostic test in Lenovo Vantage, you must direct the customer to go to the _ tab. Support Device Dashboard Security

Answered: 1 week ago

Question

★★★★★

12 2711 In the above diagram, m = 3.0kg and m = 1.5kg. a) Find the total horizontal traction on the leg (on the pulley located at the foot). b) Find the tension in the string supporting the foot.

Answered: 1 week ago

Question

★★★★★

From the lines of text below, drag two of them into answer space. Your answer should explain the difference between a float and an int. Drag from here while an int is a decimal number. A float is an...

Answered: 1 week ago

Question

★★★★★

Tower Investments Between 2003 and 2007, Tower Investments has produced returns as follows: 2003 8% 2004 3% 2005 -1% 2006 -5% 2007 -3% What is the expected return? a. .003 b..004 c. .005 d. .008

Answered: 1 week ago

Question

★★★★★

Stock A Stock B Probability Return Probability Return .30 12% .20 15% .40 16% .30 6% .30 18% .30 13% .20 21% A. Fair, Inc. is considering an investment in one of two common stocks. Given the...

Answered: 1 week ago

Question

★★★★★

LO23.5 Relate how poverty is measured and its incidence by age, gender, ethnicity, and other characteristics.

Answered: 1 week ago

Question

★★★★★

LO23.3 Demonstrate how income inequality has changed since 1975.

Answered: 1 week ago

Question

★★★★★

LO23.2 Discuss the extent and sources of income inequality.

Answered: 1 week ago

Previous Question Next Question