The estimated slope coefficient (b) of the regression equation (Ln Y = a + b Ln X) measures the ____ change in Y for a one ____ change in X.
a. percentage, unit
b. percentage, percent
c. unit, unit
d. unit, percent
e. none of the above
QUESTION 2Which of the following is TRUE?
a. Maximizing division profits always leads to maximizing company-wide profits
b. Managers of profit centers are not given any discretion in their decision making
c. Profit centers usually require the highest degree of attention of corporate executives
d. A manager being rewarded on division revenues has the most incentive to make good decisions for his division
QUESTION 3Suppose the demand for pens increases and the supply for pens decreases. What effect will it have on the quantity?
a. It will rise
b. It will fall
c. uncertain
d. None
QUESTION 4The presence of association between two variables does not necessarily imply causation for the following reason(s):
a. the association between two variables may result simply from pure chance
b. the association between two variables may be the result of the influence of a third common factor
c. both variables may be the cause and the effect at the same time
d. a and b
e. a, b, and c
QUESTION 5Which of the following is TRUE?
a. Maximizing division profits always leads to maximizing company-wide profits
b. Managers of profit centers are not given any discretion in their decision making
c. Profit centers often largely run by themselves without a lot of executive oversight
d. A manager being rewarded on division revenues has no incentive to make good decisions for his division
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