Answer:
Explanation:
A)
The formula for regression is,
ln(Cell Phone Subscribers) = -820.894 + 0.411704 Year
or,
Percentage of Cell Phone Subscribers = exp(-820.894 + 0.411704 Year)
For the year 2005,
Percentage of Cell Phone Subscribers = exp(-820.894 + 0.411704 * 2005)
= 96.79%
B)
The significance of the slope has a p-value close to 0 (0.000). Hence, the model holds statistical significance and its predictions are very reliable.
Answer:
a) Kate will yield 100 tomatoes and no heads of lettuce.
b) Jim will yield 0 tomatoes and 180 heads of lettuce.
Explanation:
Due to better climatic conditions for growing tomatoes at Kate's plot, she should prioritize those for superior quality. Additionally, her lettuce yield per square foot is lower than Jim's (3 heads compared to his 6). This means Kate could cultivate 60 heads and Jim could produce 120 heads of lettuce on 20 square feet (double). Thus, she should skip lettuce cultivation due to both quality and quantity considerations.
The same reasoning applies to Jim's tomato production. If he grows tomatoes, he’ll only manage 60 at a 20-square-foot plot, in contrast to Kate's 100. Therefore, he should refrain from growing tomatoes.
Answer: Distinctive competence
Explanation: Distinctive competencies refer to specific attributes that uniquely differentiate a person, company, or organization from its competitors. These qualities make it challenging for consumers to swap these services for another, while competitors often find them hard to replicate. Such features typically foster success, enhance customer loyalty, and provide an advantage over rivals. This concept is termed distinctive competence, indicating services available only from one entity or very few. In the context provided, Gadgetbug demonstrates distinctive competence through its exceptional after-sale customer service, which competitors struggle to equal.
Answer:
-4 units
Explanation:
Applying the midpoint method, Blake's income elasticity of demand for generic potato chips is determined by multiplying the change in demand (D) by his average income (I), then dividing by the product of the change in income and average demand:
Thus, Blake's income elasticity of demand equals -4 units.
