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Certain beverage company provides complete line of beel; Wine_ and soft drink products for distribution through retail outlets in centra Jowa_ Unit price data for 2...

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Certain beverage company provides complete line of beel; Wine_ and soft drink products for distribution through retail outlets in centra Jowa_ Unit price data for 2011 and 2014 and quantities sold in cases for 2011 follow: Use 2011 as the base periodUnit Price ($)2011 Quantity (cases)Item20112014Beer35,00019.5020.15Wine5,000100.00 117.00Soft drink60,0008,80Compute the price relatives for this company' $ products_ (Round your answers two decima places:)ItemPrice RelativeBeerWineSoft drinkUse

certain beverage company provides complete line of beel; Wine_ and soft drink products for distribution through retail outlets in centra Jowa_ Unit price data for 2011 and 2014 and quantities sold in cases for 2011 follow: Use 2011 as the base period Unit Price ($) 2011 Quantity (cases) Item 2011 2014 Beer 35,000 19.50 20.15 Wine 5,000 100.00 117.00 Soft drink 60,000 8,80 Compute the price relatives for this company' $ products_ (Round your answers two decima places:) Item Price Relative Beer Wine Soft drink Use weighted average of price relatives to show that this method provides the same index as the weighted aggregate method_ (Round your answers to the nearest integer) weighted average of price relatives index weighted aggregate price index



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Using data collected from 1929 to 1941 Richard Stone determined that the yearly quantity $Q$ of beer consumed in the United Kingdom was approximately given by the formula $Q=f(m, p, r, s),$ where $$ f(m, p, r, s)=(1.058) m^{0.136} p^{-0.727} r^{0.914} s^{0.816} $$ and $m$ is the aggregate real income (personal income after direct taxes, adjusted for retail price changes), $p$ is the average retail price of the commodity (in this case, beer), $r$ is the average retail price level of all other consumer goods and services, and $s$ is a measure of the strength of the beer. Determine which partial derivatives are positive and which are negative, and give interpretations. (For example, since $\frac{\partial f}{\partial r}>0,$ people buy more beer when the prices of other goods increase and the other factors remain constant.) (Source: Journal of the Royal Statistical Society. )

You're given a falling function. W X is equal to 0.437 x 1/4 mine. 0.661 exit 30 plus three X squared minus 4.83 x plus 62.6 40 years in 1994 to 2001 where X equal to the number of years since 1994 and W of access equal to the kilograms per capita. So for part A were asked to determine the per capita winds apart in the year 1994. So remember X a number of years since 1994. Well, for us to find the per capita wise up I in 1994 then we know the X equal to zero. So if we said w zero, is he cool too? Zero point So all the excess or equal to zero and we know that extend any number zero So everything is cancelled out except 62.6 who are left. The wh zero is equal to 62.6 when we are us. Compare that to the about the actual value of so we're supposed to compare it to 62.5 kilograms per capita and we can see that our answer is 0.1 off. So our answer that we got so our value is 0.1 kilograms per capita. Both. All right, so for part B, we are asked to figure out two years. So we're also compute the years 1996 and 2000. So we know that from the year 1996. So access when you figure out what X is for 1996. So you knew that X is equal to the number of your since 1994. So we can just do some simple math. So we have 1996 minus 1994 which leaves us with two. And so we know that sums up. So we plug it into the entire function. We should get you go to 60 0.35 kilograms per capita. Okay. And then for our next our next year, 2000 we canoe 2000 minus 1994 to get a six. So we have doubly or six is equal to 55 point for eight kilograms per capita. Next we are us. So for part c, we know that the actual valleys the actual values in 1996 IHS 60.1 after Valley 2000 pretty year 2000 is 54.6 And so, based off of this information, we need to determine how how our talk you later values compared with our actual valleys. So for the 1st 1 we can see that 40 year 1996 we were off by 0.25 So 40 year 1996 off by 0.25 kilograms per capita. And for the year 2000 we have we got 55.48 in the actual value is 54.6. So we were off by 0.8 kilograms. Work up. So you know that this model was very close, but it is not exact. All right, so for party were also determined the n b a year of the function, and to determine if this valley will be accurate for long term predictions. So we know that our behavior it is based off the leading term. So if we go back, we see they are leading term is 0.437 accident fourth, so are leading term 0.437 x 1/4. We know that this is an even function and that is positive. So we know that the UN behavior is f of X approaches Infinity, US X approaches Infinity in the SFX approaches infinity as US X purchase negative entity. And we know that this model will not be accurate for long term projections because, as you called, the blue of access equal two kilograms per capita. But the kilograms per capita of the wine cannot go on to infinity, so we know that this model well, not be accurate for long term predictions.

All right, So this problem gives us a very broken table. Unfortunately, a manufacturer spill Dr Pepper on it and made a lot of these countries illegible. And so the first part that we need to figure out is using the information that's given to us. Will we be able to figure out the rest of the inputs on the graph or on the table? So what's figure as much as we can? The first thing that we can figure out is that our total variable costs equal to 9000 for 20,000 units of output. We know that a number of workers is 100. Knowing this, as I've written on the bottom, each worker will cost $90. This is something that's gonna be very important as we figure out the rest of these columns. Second thing we want to note is that our total fixed cost is $1000. And since our capital are fixed, costs is saying constant throughout the entire time. We know our total fixed costs about all these calls is going to be $1000. So right that in here $1000 for all of these, knowing that our total cost or a total very because and total fixed cost for our 20,000 units of output, we know that total cost here will be $10,000. And knowing this information, we confined our average fixed costs Average variable cost an average total cost, which will be just the numbers for total cost told a very big constant total fixed cost divided by 20,000. So at the after I do my calculations, I get these numbers and also figure out that marginal cost here will be 0.45 which is the exact same is average variable cost in this situation because our variable costs before this was zero you will you know, all these air blank because our output a zero or total cost still equal to 1000 in this column because our output zero and with no uh no variable cost here, no workers in this calm, we know that our total variable crosses equals zero. Now let's move on to our third calm of 40 k We know that our average total costs equal 2.3 to 5 and we know that our output is equal to 40,000. So using this we know we can use. We confined our total cost right? We know that our our cost cost divide by output is equal to average little cost. And so then if we know our average total cost a pulley be so point 3 to 5 is equal to something over 40,000. We can multiply 40,000 and 0.3 to 5 to gain our total cost here. So after most blood 0.3 to 5 times 40,000 we find that our total cost is equal to 13,000. Finding their total costs equals 13,000. We know our total variable costs, then people the 12,000 because total costs equals a total, very because plus total fixed costs. And then knowing that each worker costing $9 we could find that our total workers will be 12,000. Divide by 90 and that gets us 133 points. Three, which is a little peculiar considering how you might not be able tohave points three or some points in history repeating off a worker we're moving on, we can now. So for average fixed costs, an average variable costs as well available cost being 40,000 divided by for 12,005 by 40,000. Use me to be a 0.3. So our average fixed costs that would be 0.25 here moving on to the fourth call 60 Kate Output. We have the amount of workers and knowing that the total variable cost will be the amount of workers times 90. Our total variable costs we get is 20,250 adding 20,020 50 and 1000. We get 21,250 is air to cost. And then after we calculate for average fixed cost, variable cost in every struggle cost we get 0.167 for average fixed cost points rates three, 75 for average variable costs and then our average total cost would be the total to be about 0.354 meant for the final call. We know that our total cost is 30,000. Subtracting 1000 from that will get us our total variable costs. So 29,000 here dividing 29,000 by and 90 will get us the amount of workers that we have, which is about 322 points to repeating. So knowing this weaken, then again, figure out our average fixed costs in variable costs and average tool cost end up being 0.125 36 to 5 and 0.375 Final thing figures are marginal costs like we did the first time. We know that we gained 20,000 units with 3000 unit $3000 of extra costs. So here you would have 3000 five by 20,000 is about 0.15 Then the next home were our costs went up by 8250 from column 3 40,000 to calm 4 60,000 8250. Divide by 20,000. We gives 0.41 to 5 and then for our final column. Our costs went up by 8750. Divine that by 20,000 years of additional output marginal costs with the 0.4375 so are answered apart. A, in short, is the press soft drink President should not pay up to get another duplicate table because we can vote the rest of the entries on our own part. Bees, then asking do the marginal cost average variable costs and I was total costs. Have the relationship that we learned in this chapter, which, being marginal costs will cross average variable costs, average total cost at its minimum point, and then it'll rise as it rises above it. So, as we see here, marginal cost is above rise above average total cost at this point from 40,000 to 60,000 units of output and look average total costs increased from 0.0.3 to 5 to put 354 and we can say the same thing happened with average variable cost as marginal costs rose from 0.152 point 4125 average variable costs rose there as well. So as we can see from the table, this has the relationship that we learned in this chapter as well.

We have given the daytime the following table. I'm doing it. And yet waiting bones in bounce on here. The output number off drinks here. Number off drinks. So here they're the 100 poems. That is ahead 2.5 output. And now you have £160 person and he had full units. And here one ended at £80 person and then 4.5 and year £200 person. That is your fight. No. Did you get that? A 12 on source. Glassell Beard of five owns off glands. A glass of wine and a cocktail containing one on some distant liquid are counts as wondering. See things defending. But they're single. Contrary wondering. Assume that the old drinks they consumed consumed within one hour. These little estimated and depend on other factors such a gender and alcohol proof. Now we have to lower this graph and identify for £14 person and £230 person. So for this, I'm going to draw a graph it and he ridicules. Here is your graph. Now we have toe do for £140.230 pounds. So for this year £140 here one and 41 The city is well and this is a value. And now this corresponds to to the point flight brings And now for £260 person. So here, £250 person he had. And this corresponds for 16 101 4 So that is six point school flight. Here's your graph. So you can see very clearly And these are the value to 2.5 and 615 So he had here You can see and I just will. You got us for NATO. Report pirates expert.

So I went after Not you find Ah, submission One out of six in front and demented mind I I guess from 1 to 6. And look at the the figure we are given. Here we go to one out of six. Inside we have the 93 plus 96 plus up to the 1 45 So every convention Hanka Crater, We're gonna 93 plus 96. That's +11 job +1191 34 on just 1 45 And the we've gotten does six nae nae and times when you want it up. Six. So we got me coach, you develop 1/6 tour under 116.5 Ah, sent. And now, Inbee, we have given the model on the eye and now echo Jenna from 11. And plus 78 were asked to find us them model before wanted up six times going to submission. I I, uh here and I guess from 1 to 6. Rico to one it up. Six. Submission, I guess from 1 to 6, I I know it could be 11. I'm 78. So we go. Do you want it up? Six Now we can practice into the juice. A mission, I guess from 1 to 6. And we can't bring them element in front tense I and plus 78 times good assumption. I goes from 1 to 6 and one inside. So we're gonna go to one out of six. 10 with the 11 times now inside, we have the one blessed job list three after the sixth, plus 78 attempts with the one does one blessed after six times. So it isn't gonna be six times. And now we should get any good. You want it up? Six now 11 times window. One less job list. Dreamless farm does find a six story go to 21 plus 70 I. There's a Nico to six and now we should get you Go, Joe. One of them. Six I seven times 21 could be a Jew. 31 plus 78 times six. We go to 468. So we should get Nico Chu. Plus June 31 they running by six. So we got excited. A simple answer in I saw the Anderson


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