Based on the answer above, the price for Nike shoes_____________ and the quantity demanded for Nike shoes ____________.
a. Uncertain; decreases
b. Decreases; increases
c. Decreases; uncertain
d. Increases; uncertain
QUESTION 2Time-series forecasting models:
a. are useful whenever changes occur rapidly and wildly
b. are more effective in making long-run forecasts than short-run forecasts
c. are based solely on historical observations of the values of the variable being forecasted
d. attempt to explain the underlying causal relationships which produce the observed outcome
e. none of the above
QUESTION 3If the fixed costs can be ignored, a relatively good approximation of the correct transfer price is
a. average costs
b. average fixed costs
c. average variable costs
d. the market price
QUESTION 4The wages for Nike workers increases. At the same time, we see the price for Adidas shoes increase. How does this affect the market for Nike shoes?
a. The demand curve will shift to the left; the supply curve will shift to the left
b. The demand curve will shift to the left; the supply curve will shift to the right
c. The demand curve will shift to the right; the supply curve will shift to the left
d. The demand curve will shift to the right; the supply curve will shift to the right
QUESTION 5In addition to prediction, one purpose of regression analysis is:
a. to measure the overall fit of the model to the sample observations
b. to test whether the slope parameter is equal to some particular value
c. to test whether the slope parameter is equal to zero
d. b and c
e. none of the above
QUESTION 6When a transfer price decreases
a. the buying division will want to sell less to the selling division
b. the buying division will want to sell more to the selling division
c. the selling division will want to sell less to the buying division
d. the selling division will want to sell more to the buying division
QUESTION 7Based on the answer above, the price for peanut butter_____________ and the quantity demanded for peanut butter ____________.
a. Uncertain; decreases
b. Decreases; increases
c. Decreases; uncertain
d. Increases; uncertain
QUESTION 8In a regression equation, one may measure the accuracy of the estimation by:
a. calculating the standard deviation of the errors of prediction
b. calculating the standard error of the estimate
c. estimating the standard deviation of the errors of prediction
d. all of the above
e. a and b only
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