Podcast
Download our mobile app to listen on the go
Get App
Questions and Answers
What is the purpose of regression analysis in economics and business?
What is the purpose of regression analysis in economics and business?
- To analyze market trends
- To estimate cost functions (correct)
- To forecast demand
- To calculate profits
What is the cost functional form that is being estimated in the given example?
What is the cost functional form that is being estimated in the given example?
- TC(Q) = βo - β1Q
- TC(Q) = βo / β1Q
- TC(Q) = βo + β1Q (correct)
- TC(Q) = βo * β1Q
What method is used to develop an estimated regression equation in the given example?
What method is used to develop an estimated regression equation in the given example?
- Simple linear regression
- Multiple regression
- Logistic regression
- Ordinary least squares (OLS) (correct)
Flashcards are hidden until you start studying
