6. Consider the following estimated regression model, where we propose that 𝐴𝑊𝑃 (Average winning percentage) may depend
Posted: Fri Jul 01, 2022 7:56 am
6. Consider the following estimated regression model,where we propose that 𝐴𝑊𝑃 (Average winning percentage) may dependon Market size (millions of people) in a particular city:𝐴𝑊𝑃^=0.56+0.3𝑀𝑎𝑟𝑘𝑒𝑡𝑆𝑖𝑧𝑒. What is the slope coefficient of thismodel?
A. 0.56
B. 0
C. 0.3
D. 30000
E. 300
7. Consider the following estimated regression model,where we propose that 𝐴𝑊𝑃 (Average winning percentage) may dependon Market size (millions of people) in a particular city:𝐴𝑊𝑃^=0.56+0.0021𝑀𝑎𝑟𝑘𝑒𝑡𝑆𝑖𝑧𝑒. What is the predicted Average WinningPercentage if the city has a population of 10 million?
A. 58.1%
B. 56%
C. 21000%
D.21000.56%
E. 0.56
8. Ticket demand for US Open is known to be veryelastic. This means that:
A. A large increase in price will result in large increase inquantity of ticket demanded.
B. A small increase in price will result in small increase inquantity of ticket demanded.
C. A small increase in price will result in large decrease inquantity of ticket demanded.
D. A large increase in price will result in small decrease inquantity of ticket demanded.
E. A large decrease in price will result in large decrease inquantity of ticket demanded.
9. Which of the following is an example ofmonopoly?
A. Canada Post
B. Huyndai
C. Uniqlo
D. UberEats
E. Walmart
10. Which of the following statements istrue?
A. European teams are monopolies, whereas North American teamsare perfectly competitive.
B. European teams are perfectly competitive, whereas NorthAmerican teams are monopolies.
C. Perfectly competitive markets produce less and charges lessrelative to monopoly.
D. Perfectly competitive markets produce more and charges morerelative to monopoly.
E. Perfectly competitive markets produce less and chargesmore.
A. 0.56
B. 0
C. 0.3
D. 30000
E. 300
7. Consider the following estimated regression model,where we propose that 𝐴𝑊𝑃 (Average winning percentage) may dependon Market size (millions of people) in a particular city:𝐴𝑊𝑃^=0.56+0.0021𝑀𝑎𝑟𝑘𝑒𝑡𝑆𝑖𝑧𝑒. What is the predicted Average WinningPercentage if the city has a population of 10 million?
A. 58.1%
B. 56%
C. 21000%
D.21000.56%
E. 0.56
8. Ticket demand for US Open is known to be veryelastic. This means that:
A. A large increase in price will result in large increase inquantity of ticket demanded.
B. A small increase in price will result in small increase inquantity of ticket demanded.
C. A small increase in price will result in large decrease inquantity of ticket demanded.
D. A large increase in price will result in small decrease inquantity of ticket demanded.
E. A large decrease in price will result in large decrease inquantity of ticket demanded.
9. Which of the following is an example ofmonopoly?
A. Canada Post
B. Huyndai
C. Uniqlo
D. UberEats
E. Walmart
10. Which of the following statements istrue?
A. European teams are monopolies, whereas North American teamsare perfectly competitive.
B. European teams are perfectly competitive, whereas NorthAmerican teams are monopolies.
C. Perfectly competitive markets produce less and charges lessrelative to monopoly.
D. Perfectly competitive markets produce more and charges morerelative to monopoly.
E. Perfectly competitive markets produce less and chargesmore.