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4regressicn Moce Win quameny:easona qummy "araolesw3= iit to quarery sales data (in S10,0OO) fora 3ma comfany The resuits are shown below The dummy vanables ar...

Question

4regressicn Moce Win quameny:easona qummy "araolesw3= iit to quarery sales data (in S10,0OO) fora 3ma comfany The resuits are shown below The dummy vanables are defined icllov3 1 ifthe ime Cetioo Quarer otnervze 02 and 03 are defned similarly:Epbrvaions Uzedin be Ququ"R-So Siancs ior square0 "R-So Siancs ior aoiusec squaredSSEZacdeEbbi0r Gandard 2rror203rcorcg-ion cquation Siles 136 31.US1. 2Precictor Coer Ccnstant 136.167 000 52.000 51.167Coer 4822 28.24 820 820 8200000008121R-Sq

4regressicn Moce Win quameny:easona qummy "araolesw3= iit to quarery sales data (in S10,0OO) fora 3ma comfany The resuits are shown below The dummy vanables are defined icllov3 1 ifthe ime Cetioo Quarer otnervze 02 and 03 are defned similarly: Epbrvaions Uzedin be Ququ "R-So Siancs ior square0 "R-So Siancs ior aoiusec squared SSE Zacde Ebbi0r Gandard 2rror 203 rcorcg-ion cquation Siles 136 31.U S1. 2 Precictor Coer Ccnstant 136.167 000 52.000 51.167 Coer 4822 28.24 820 820 820 000 000 8121 R-Sq 79.J R-So(ad71 7o.2 Lcozinz Wratec ezrefcn equa-icn acova Whicr owns Osr Duct quare . Calezare Oer theirQuarer- Caler nizha Ine fr erond Inirj Quarers -orcarec "uch Oarer ors Ine fc Jaco third Quarters mpared wicn theicurth Juarer_ ezare nei-her hizhe Owa -han raze



Answers

[M] The consumption matrix $C$ below is based on input- output data for the U.S. economy in 1958 , with data for 81 sectors grouped into 7 larger sectors: $(1)$ nonmetal household and personal products, $(2)$ final metal products (such as motor vehicles), (3) basic metal products and mining, (4) basic nonmetal products and agriculture, (5) energy, (6) services, and (7) entertainment and miscellaneous products. Find the production levels needed to satisfy the final demand d. Units are in millions of dollars.)
$$
\left[\begin{array}{ccccccc}{.1588} & {.0064} & {.0025} & {.0304} & {.0014} & {.0083} & {.1594} \\ {.0057} & {.2645} & {.0436} & {.0099} & {.0083} & {.0201} & {.3413} \\ {.0264} & {1506} & {.3557} & {.0139} & {.0142} & {.0070} & {.0236} \\ {.3299} & {.0565} & {.0495} & {.3636} & {.0204} & {.0483} & {.0649} \\ {.0089} & {.0081} & {.0333} & {.0295} & {.3412} & {.04837} & {.0020} \\ {.1190} & {.0901} & {.0396} & {.1260} & {.1722} & {.2368} & {.3369} \\ {.0063} & {.0126} & {.0196} & {.0098} & {.0064} & {.0132} & {.0012}\end{array}\right]
$$
$$
\mathbf{d}=\left[\begin{array}{c}{74,000} \\ {56,000} \\ {10,500} \\ {25,000} \\ {17,500} \\ {196,000} \\ {5,000}\end{array}\right]
$$

Okay for this problem, We are going to be using a graphing application. You could tell from the icon. This is a technology problem. You can use a graphing calculator. You can use a graphic application on your computer. I'm using the desk. Most application. I find that this is a pretty nice one for me to use. Use whichever one you feel most comfortable with. Now, in this problem, we have given to matrices B and C. And as you can see, I've already entered them into the death. Most applications and we're going to do a few. Um, uh we're gonna use these in a few equations and then try to interpret the numbers and see what what these numbers actually mean when we do this work. So first I want to make a change in manufacturing. I want to increase manufacturing by $50 million. You can see in Matrix. See, there's that 50 in the second commodity spot, which is manufacturing now. How is that going to affect the rest of the economy? Well, what we're going to dio, As you can see, I've also put in our identity matrix. I'm calling it a church just to have something to call it here. And what I want to dio is we're going to take the identity matrix. In this case. I'm calling that h minus be. I'm gonna take the inverse of that matrix and multiply it by matrix C. So this is how the economy changes based on that increase in manufacturing. So our first commodity is natural. Resource is we're going to see an increase in natural resource is of 3.0 nto maybe toe one digit here. So about 3.1, we're in millions of dollars. So it's a change in $3.1 million. In natural resource is our second commodities manufacturing's. We're gonna see an increased their of $59.7 million. Trade and services is third. That's going to be an increase of $26.8 million. Personal consumption is our fourth. That will be an increase of $42.2 million. And that last number is our employment or employment going to change by 1002. Okay, now let's go back and look at that first piece that h minus B identity minus B. And I want to look at the inverse. Okay, so here is the inverse matrix H minus B. So let's take a look at that bottom most row. What does that mean? What does those numbers tell us? Well, that is our change in employment. So the first commodity is manufacturing. So we're seeing an increase in employment in manufacturing off 40.9. Second commodity is is manufacturing. We see an increase. Their of 20 third commodity is traded services. There's an increase their of 39.2. And our last one is personal consumption. We see an increase, their of 16. So that is how our employment is changing.


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