question 5-6

Project Description:

5-3
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?

5-5
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?

6-2
define the law of diminishing returns. why is this law considered a short-run phenomenon?

6-4
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.

6-9
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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