BUSL$322$

MIDTERM

$03\mathrm{.}05\mathrm{.}2024$

You have to choose to answer ONLY $($a$)$ or $($b$)$ in $1$st question, however $(2$nd$)$ is compulsory:

$(30$ points$)$ What are the differences between static and dynamic models?

$($a$)$ What are the differences between static and dynamic models?

$($b$)$ What are the seven steps of model building process?

Consider you have a A matrix as below:

$A=\left[\begin{array}{ccc}2& 1& 4\\ 1& 2& 1\\ 3& 1& 2\end{array}\right]$

$($a$)(30$ points$)$ What is the transpose $(A^{\text{'}})$ of the matrix?

$($b$)(40$ points$)$ What is the determinant of A matrix, that is to say ${}_A?$