study guid

Project Description:

i need to do study guid for managerial economics based on the following:


chapter 5

the identification problem - what it is

how do we estimate demand/create a demand equation? recall the in-class project we did on this related to college enrollment, what variables to select, what are the expected signs of the coefficients, where might the date be located, (you will receive a question like the one we did in class on a smaller scale though)

marketing research - consumer surveys, consumer clinics, market experiments, virtual shopping and management, - what are they, how are they used,

regression analysis - what is it

what are degrees of freedom - why we use them, how we use them with t-values and f-values, what is n and k? how do we find them?

t- tests: know how to set up the ho: and ha:, how to use the t-table, how to compare the t-stat/table values to the t-generated values, when you accept or reject ho:, and when you accept the ha:

f-tests - know how to set up the ho: and ha:, how to use the f-table, how to compare the f-stat/table values to the f-generated values, when you accept or reject ho:, and when you accept the ha, how to calculate the f-value

the coefficient of determination (the r-squared) - what it is, why it is used, how we calculate the adjusted r-squared.

problems with regression analysis - multicollinearity, heteroscedasticity,autocorrelation , - be able to define each problem, how we would recognize them and how to correct them.

dummy variable - what it is, how/why it is used.

problem # 10 on page 214 (we did this in class): be able to explain what each coefficient means (what impact it has on qt), what are the expected signs on each of the coefficients, run t-test on each coefficient, calculate the f-value and run the f-test, calculate the adjusted r-squared - you will get a question very similar to this on the exam, and be asked to do everything listed here.

chapter 6

what is the delphi method and how is it used?

how valuable is experience in forecasting?

forecasting using a linear trend - we did this in class on mon 11/16 (see formula 6-2 on page 227) - know to run run t-tests, f-tests, calculate f-value and adjusted r-squared, be able to forecast into the future using the linear trend, you will get a question very similar to this on the exam, and be asked to do everything listed here

forecasting using a growth trend - we did this in class on weds 11/18 - see equation 6-6, be able to forecast into the future using this trend, (you will get a question on this on exam), and how to use a season variation,

what is a moving average - how and why is it used?

barometric forecasting - leading economic indicators, cincident indicators, lagging indicators - what are they , why are they used,
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