Question? Call Us  +1 (817) 546-4770

ECON6000 Economic Principles And Decision Making

Academic Anxiety?

Get an original paper within hours and nail the task

156 experts online

Free Samples

ECON6000 Economic Principles And Decision Making

.cms-body-content table{width:100%!important;} #subhidecontent{ position: relative;
overflow-x: auto;
width: 100%;}

ECON6000 Economic Principles And Decision Making

0 Download2 Pages / 433 Words

Course Code: ECON6000
University: Laureate International Universities

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: United States

Question:
Describe the Economic Principles and Decision Making For Regression.
Answer:

Regression Statistics

Multiple R

0.96

R Square

0.91

Adjusted R Square

0.90

Standard Error

7.82

Observations

21

 

ANOVA

 

df

SS

MS

F

Significance F

Regression

3

11019.2105

3673.0702

60.07749

2.94899E-09

Residual

17

1039.36093

61.138878

 

 

Total

20

12058.57143

 

 

 

 

 

Coefficients

Standard Error

t Stat

P-value

Lower 95%

Upper 95%

Intercept

-12.1602

11.3076

-1.0754

0.2972

-36.0172

11.6968

Average income per person

0.0048

0.0018

2.6652

0.0163

0.0010

0.0087

Tariff rate on imports of energy bars

-6.4570

1.0416

-6.1990

0.0000

-8.6546

-4.2594

Number of stores where energy bars are offered

4.0724

1.8978

2.1459

0.0466

0.0684

8.0765

The regression analysis evaluates impact of income, tariff and number of stores on the demand for energy bars.  From the regression it is found that income has a positive effect on demand while tariff has a negative effect on energy bar demand. So far as number of stores are concerned the coefficient is 4.0724. This positive and significant effect implies that offering energy bars to an additional store helps to increase energy bar demand
The coefficient of tariff from the regression is found to be -6.4570. The negative coefficient implies tariff has a negative effect on demand. With unit increase in tariff demand decreases by 6 units. The coefficient is statistically significant as indicated by the significant p value (value less than 0.05) (Draper & Smith, 2014).
PW in figure 1 represents the world price without nay restriction. After imposition of tariff price in the domestic market increases to Ptariff. Because of higher price after tariff, demand reduces from QD1 to QD2. The higher price reduces consumer surplus to A. Producer surplus increases to B + C. The lost consumer surplus however does not completely transfers to producers (Feenstra, 2015). This causes a misallocation of resources leading to a welfare loss represented by the area D + G.
As discussed in the previous section imposition of tariff in Industria causes a welfare loss in the market. In response to higher price of Scmeckt Gut’s energy bar people in Industria would substitute Schmeckt Gut’s energy bar with some cheaper brand that might affect consumer’s health. Because of tariff Schmeckt Gut would face a loss in the market share in Industria. Followed by standard theory of trade, it is thus mutually beneficial for both the nation to encourage free trade between the two nations (Viner, 2016). The theoretical overview of trade is further supported by the regression analysis. The regression analysis suggests indicates a significant negative effect of tariff on energy bar demand and welfare.
Reference list 
Draper, N. R., & Smith, H. (2014). Applied regression analysis(Vol. 326). John Wiley & Sons.
Feenstra, R. C. (2015). Advanced international trade: theory and evidence. Princeton university press.
Viner, J. (2016). Studies in the theory of international trade. Routledge.

Free Membership to World’s Largest Sample Bank

To View this & another 50000+ free samples. Please put
your valid email id.

E-mail

Yes, alert me for offers and important updates

Submit 

Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

UploadUnique Document

DocumentUnder Evaluation

Get Moneyinto Your Wallet

Total 2 pages

PAY 2 USD TO DOWNLOAD

*The content must not be available online or in our existing Database to qualify as
unique.

Cite This Work
To export a reference to this article please select a referencing stye below:

APA
MLA
Harvard
OSCOLA
Vancouver

My Assignment Help. (2021). Economic Principles And Decision Making. Retrieved from https://myassignmenthelp.com/free-samples/econ6000-economics-principles-and-decision-making/regression-analysis.html.

“Economic Principles And Decision Making.” My Assignment Help, 2021, https://myassignmenthelp.com/free-samples/econ6000-economics-principles-and-decision-making/regression-analysis.html.

My Assignment Help (2021) Economic Principles And Decision Making [Online]. Available from: https://myassignmenthelp.com/free-samples/econ6000-economics-principles-and-decision-making/regression-analysis.html[Accessed 18 December 2021].

My Assignment Help. ‘Economic Principles And Decision Making’ (My Assignment Help, 2021) accessed 18 December 2021.

My Assignment Help. Economic Principles And Decision Making [Internet]. My Assignment Help. 2021 [cited 18 December 2021]. Available from: https://myassignmenthelp.com/free-samples/econ6000-economics-principles-and-decision-making/regression-analysis.html.

×
.close{position: absolute;right: 5px;z-index: 999;opacity: 1;color: #ff8b00;}

×

Thank you for your interest
The respective sample has been mail to your register email id

×

CONGRATS!
$20 Credited
successfully in your wallet.
* $5 to be used on order value more than $50. Valid for
only 1
month.

Account created successfully!
We have sent login details on your registered email.

User:

Password:

MyAssignmenthelp.com boasts a pool of 3000+ PhD qualified dissertation writers, who are committed to providing highest quality dissertation paper help in more than 100 subjects. Each expert specializes in providing top-quality dissertation writing services in the exact manner that students want. Being a cheap dissertation writing services, we ensure prices don

Latest Management Samples

div#loaddata .card img {max-width: 100%;
}

MPM755 Building Success In Commerce
Download :
0 | Pages :
9

Course Code: MPM755
University: Deakin University

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Answers:
Introduction
The process of developing a successful business entity requires a multidimensional analysis of several factors that relate to the internal and external environment in commerce. The areas covered in this current unit are essential in transforming the business perspective regarding the key commerce factors such as ethics, technology, culture, entrepreneurship, leadership, culture, and globalization (Nzelibe, 1996; Barza, 2…
Read
More

SNM660 Evidence Based Practice
Download :
0 | Pages :
8

Course Code: SNM660
University: The University Of Sheffield

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: United Kingdom

Answers:
Critical reflection on the objective, design, methodology and outcome of the research undertaken Assessment-I
Smoking and tobacco addiction is one of the few among the most basic general restorative issues, particularly to developed nations such as the UK. It has been represented that among all risk segments smoking is the fourth driving purpose behind infections and other several ailments like asthma, breathing and problems in the l…
Read
More
Tags:
Australia Maidstone Management Business management with marketing University of New South Wales Masters in Business Administration 

BSBHRM513 Manage Workforce Planning
Download :
0 | Pages :
20

Course Code: BSBHRM513
University: Tafe NSW

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Answer:
Task 1
1.0 Data on staff turnover and demographics
That includes the staffing information of JKL industries for the fiscal year of 2014-15, it can be said that the company is having problems related to employee turnover. For the role of Senior Manager in Sydney, the organization needs 4 managers; however, one manager is exiting. It will make one empty position which might hurt the decision making process. On the other hand, In Brisba…
Read
More

MKT2031 Issues In Small Business And Entrepreneurship
Download :
0 | Pages :
5

Course Code: MKT2031
University: University Of Northampton

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: United Kingdom

Answer:
Entrepreneurial ventures
Entrepreneurship is the capacity and willingness to develop, manage, and put in order operations of any business venture with an intention to make profits despite the risks that may be involved in such venture. Small and large businesses have a vital role to play in the overall performance of the economy. It is, therefore, necessary to consider the difference between entrepreneurial ventures, individual, and c…
Read
More
Tags:
Turkey Istanbul Management University of Employee Masters in Business Administration 

MN506 System Management
Download :
0 | Pages :
7

Course Code: MN506
University: Melbourne Institute Of Technology

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Answer:
Introduction
An operating system (OS) is defined as a system software that is installed in the systems for the management of the hardware along with the other software resources. Every computer system and mobile device requires an operating system for functioning and execution of operations. There is a great use of mobile devices such as tablets and Smartphones that has increased. One of the widely used and implemented operating syste…
Read
More
Tags:
Australia Cheltenham Computer Science Litigation and Dispute Management University of New South Wales Information Technology 

Next

Need an essay written specifically to meet your requirements?

Choose skilled experts on your subject and get an original paper within your deadline

156 experts online

Your time is important. Let us write you an essay from scratch

Tips and Tricks from our Blog

PROJ6016 Employer Based Project

Free Samples PROJ6016 Employer Based Project .cms-body-content table{width:100%!important;} #subhidecontent{ position: relative; overflow-x: auto; width: 100%;} PROJ6016 Employer

Read More »

PPMP20009 Marking Rubric

Free Samples PPMP20009 Marking Rubric .cms-body-content table{width:100%!important;} #subhidecontent{ position: relative; overflow-x: auto; width: 100%;} PPMP20009 Marking Rubric

Read More »