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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