Question

Which of the following types of fit should be selected in Excel's Trendline function if a...

Which of the following types of fit should be selected in Excel's Trendline function if a constant elasticity curve is to be used to model the demand?

Power

Exponential

Logarithmic

Polynomial
Business   Operations-Management   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Answer: (a) Power

Explanation: Excel has certain preprogrammed feature that helps in finding the best fitting equation. These features are in the form of models such as linear model, exponential model, polynomial model, logarithmic model and power model. For data sets where measurements that increase at a constant rate are compared, power model is the most appropriate. Therefore, for constant elasticity curve, power fit should be selected in Excel’s trendline function.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Modeling with Functions In this course you have learned the characteristics of different types of functions...
Modeling with Functions In this course you have learned the characteristics of different types of functions and have practiced solving application problems involving modeling with these functions. For each scenario below, decide what type of function would best model the situation. Explain why you chose that type of function. Show your work in writing the function to model the situation. Be sure to state what the independent variable represents. Then use your model to answer the questions for that scenario....
Curve-Fit Function USING MATLAB Using the top-down design approach, develop a MATLAB function A8P2RAlastname.m that reads...
Curve-Fit Function USING MATLAB Using the top-down design approach, develop a MATLAB function A8P2RAlastname.m that reads data from a file and performs regression analysis using polyfit and polyval. The function shall have the following features: The input arguments shall include the file name (string), a vector of integers for the degrees of polynomial fits to be determined, and an optional plot type specifier (‘m’ for multiple plots, ‘s’ for a single plot - default). The data files will be text...
Which of the following statements about price elasticity of demand is correct? Select one: a. The...
Which of the following statements about price elasticity of demand is correct? Select one: a. The higher the price elasticity of demand, the steeper the demand curve. b. Inelastic demand implies that there are few close substitutes. c. Elastic demand implies a firm's high market power. d. Price elasticity of demand is equal to the slope of the demand curve. e. The higher a firm's markup, the higher the price elasticity of demand.
1. Consider a compensated (Hicksian) demand function. Which of the following statements is correct about a...
1. Consider a compensated (Hicksian) demand function. Which of the following statements is correct about a demand curve graphed from this demand function? a. Along this demand curve, the level of utility is held constant and the level of income changes. Consequently, movements along this demand curve illustrate only substitution effects of price changes. b. Along this demand curve, the level of utility changes and the level of income is held constant. Consequently, movements along this demand curve include both...
Which of the following regression models will you choose to explore how population and income determine...
Which of the following regression models will you choose to explore how population and income determine the demand on pizza and obtain the estimation of “constant” income elasticity of demand on pizza? Please brief explain your choice. Simple linear model Multiple linear model Quadratic model Log-linear model
Which of the following models is used to examine decreases in the rate of population growth...
Which of the following models is used to examine decreases in the rate of population growth as population size approaches carrying capacity? Which of the following models is used to examine decreases in the rate of population growth as population size approaches carrying capacity? logistic growth model intrinsic rate of increase exponential growth survivorship curve
1. After learning the basic estimation techniques in CH 4, which of the following regression models...
1. After learning the basic estimation techniques in CH 4, which of the following regression models will you choose to explore how population and income determine the demand on pizza and obtain the estimation of “constant” income elasticity of demand on pizza? Please brief explain your choice. • Simple linear model • Multiple linear model • Quadratic model • Log-linear model
In order to master risks and controls and how they fit together, which of the following...
In order to master risks and controls and how they fit together, which of the following is NOT one of the areas to fully understand?                      A.     The accounting information system.                      B.     The description of the general and application controls that should exist in IT system.                      C.     The type and nature of risks in IT systems.                      D.     The recognition of how controls can be used to reduce risk.
Which of the following is TRUE regarding price elasticity? a. When demand is inelastic, sellers should...
Which of the following is TRUE regarding price elasticity? a. When demand is inelastic, sellers should lower prices in order to increase total revenue. b.Price elasticity does not depend on magnitude and direction of the contemplated price change. c.The higher the elasticity, the lesser the volume growth resulting from a one-percent price reduction. d.If demand is elastic, sellers assume that lowering the price will decrease total revenue. e.Long-run and short-run price elasticity may differ, delaying the impact of a price...
Which of the following best represents the effects of a decrease in the price of apples,...
Which of the following best represents the effects of a decrease in the price of apples, other things being equal? Question 7 options: A leftward shift in the demand curve for apples. A rightward shift in the demand curve for apples. A downward movement along the demand curve for apples. An upward movement along the demand curve for apples George notices that every time he leaves a football game early his team wins. He concludes that he should always leave...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT