question 5-6

Project Description:

briefly explain the meaning of r2. a time series analysis of demand trends to result in a higher r2 than one using cross-sectional data. why do you think this is the case?

breifly explain the "f" test. why do think this test is considered to be more important in multiple regression analysis than it is in simple regression analysis?

define the law of diminishing returns. why is this law considered a short-run phenomenon?

explain why a firm's adherence to the mrp = mlc rule enables it to find the optimal numbers of units of a variable input to use in the short-run production process.

discuss the problems of measuring productivity in actual work situations. how might productivity be measured for each of the following industries:
a) education (elementary, secondary education, higer education).
b) government (social security, internal revenue service).
c) manufacture (soap, toothpaste, computers)
d) finanace and insurance ( banks, insurance companies, brokrage houses).
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