7.3 management proposed the following regression model to predict sales at a fast-food outlet: yi 5 b0 1 b1x1,i 1 b2x2,i 1 b3x3,i 1ei where y i 5 sales ($1000s) x 1, i 5 number of competitors within one mile x 2, i 5 population within one mile (1000s) x 3, i 5 1 if a drive up window is present and 0 otherwise the following estimated regression equation was developed after 20 outlets were surveyed: y^i 5 10.1 2 4.2x1,i 1 6.8x2,i 1 15.3x3,i a. what is the expected amount of sales attributable to the drive-up window? b. predict sales for a store with two competitors, a population of 8,000 within one mile, and no drive-up window. c. predict sales for a store with one competitor, a population of 3,000 within one mile, and a drive-up window.

Licensing is perhaps the easiest method of entering into international trade. another method of entering international trade, which can be relatively low risk, is which opens several levels of involvement to company

Suppose an economist believes that the price level in the economy is directly related to the money supply, or the amount of money circulating in the economy. the economist proposes the following relationship: p=a x m - p=price level - m=money supply - a=a composite of other factors, including real gdp, that change very slowly over time. how might an economist gather empirical data to test the proposed relationship between money and the price level? an economist would persuade the federal reserve to change the money supply to various levels, and observe the resulting changes in the price level. unlike researchers in the hard sciences, economists cannot study complex relationships using data. economists do not usually develop theoretical models of the economy but only analyze summary statistics about the current state of the economy. an economist would look for data on past changes in the money supply, and note the resulting changes in the price level

The advertisement demonstrates a popular way companies try to sell a product. what should consumers consider when it comes to the price of this product? it includes shipping and handling costs. it takes into account maintenance costs. it explains why this price is a good deal. it makes the full cost appears lower than it is.