BUSI 620 MENTOR Learn Do Live /busi620mentor.com BUSI 620 MENTOR Learn Do Live /busi620mentor.com | Page 15
Appendix Problem 1: The following table reports the Consumer Price Index for the Los Angeles area on a monthly basis from January 1998 to December 2000( base year = 1982-1984). Eliminating the data for 2000, use Excel to forecast the index for all of 2000 using a three- and sixmonth average. Which provides a better forecast for 2000 using the data provided?
Appendix Problem 3: Forecast the data for 2000 again in Problem 1 with exponential smoothing with w = 0.3 and w = 0.7. Is this a better forecast than the moving average?
Salvatore’ s Chapter 7: Discussion Questions: 3, 11, and 12. Problems: 4, 12, and 13. Discussion Question 3:
a) How is the law of diminishing returns reflected in the shape of the total product curve?
b) What is the relationship between diminishing returns and the stages of production?
Discussion Question 11: Minimum wage legislation requires most firms to pay workers no less than the legistiated minimum wage per hour. Using marginal productivity theory, explain how a change in the minimum wage affects the employment of unskilled labor
Appendix Problem 1: The following table reports the Consumer Price Index for the Los Angeles area on a monthly basis from January 1998 to December 2000( base year = 1982-1984). Eliminating the data for 2000, use Excel to forecast the index for all of 2000 using a three- and sixmonth average. Which provides a better forecast for 2000 using the data provided?
Appendix Problem 3: Forecast the data for 2000 again in Problem 1 with exponential smoothing with w = 0.3 and w = 0.7. Is this a better forecast than the moving average?
Salvatore’ s Chapter 7: Discussion Questions: 3, 11, and 12. Problems: 4, 12, and 13. Discussion Question 3:
a) How is the law of diminishing returns reflected in the shape of the total product curve?
b) What is the relationship between diminishing returns and the stages of production?
Discussion Question 11: Minimum wage legislation requires most firms to pay workers no less than the legistiated minimum wage per hour. Using marginal productivity theory, explain how a change in the minimum wage affects the employment of unskilled labor