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State any five assumptions of the benchmark mode and highlight the weaknesses of those assumptions.
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- Consider the following decomposition of the error term: v i t = a i + u i t The first part of this error term (ai) caputres ______and the second part (uit) caputres______. time constant unobserved factors, time varying unobserved factors time varying unobserved factors, time constant unobserved factors homoskedasticity, heteroskedasticity heteroskedasticity, homoskedasticity"Time fixed effects control for unobserved variables that are the same acrossentities but vary over time". Is this statement true?Various techniques have been proposed to curb cross-border drug smuggling into a country. The costs of implementing each strategy along a particularlyrugged section of the border are indicated below. The table also includes a score that is compiled based on deterrence, interdiction, and apprehension, witha higher score indicating better performance. For a budget of $51 million,determine the total cost of the most cost-effective techniques. Cost, $ Activity Tethered Aerostats Boots-on-the-Ground Fence Motion Sensors Score 4.3 8 40.1 52 13.7 12 7.8 7 Seismic Sensors 5.4 Drones 12.4 26
- Consider the following cost matrix: No probabilities are known for the occurrence of the nature states. Compare the solutions obtained by each of the following criteria: (a) Laplace (b) Maximin(Minimax) (c) Savage (d) Hurwitz (assume that alpha = 0.8)Please answer with very clear solutions with clear steps and explainantion. Please do not answer if you are not confident.Various techniques have been proposed to curb cross-border drug smuggling into a country. The costs of implementing each strategy along a particularly rugged section of the border are indicated below. The table also includes a score that is compiled based on deterrence, interdiction, and apprehension, with a higher score indicating better performance. Determine the technique with the highest and the lowest cost-effectiveness ratio. For a budget of $53 million, determine the total cost of the most cost-effective techniques. Activity Cost, $ Score Tethered Aerostats 4.5 8 Boots-on-the-Ground 42.1 52 Fence 14.2 12 Motion Sensors 8 7 Seismic Sensors 5.6 5 Drones 12.8 26
- At the profit maximizing level of input use, Which of the following are true? (i) MVP=0 (ii) MVP=MIC (iii) MPP=MVP (iv) MVP=MVICOne of the challenges of business—and life—is planning for an uncertain future. We introduced the concept of contingency planning previously in the course. In module 4, we discussed a related process—environmental scanning—and how to incorporate this concept into the strategic planning process. In this essay question, you will briefly summarize the PESTEL framework and develop a PESTEL analysis for a business of your choice. Review the Common Frameworks for Evaluating the Business Environment section of your course. Briefly (in one paragraph) summarize what the PESTEL framework is and why it matters. Select a specific business or an industry that you are familiar with as a consumer/fan (i.e., sports team, musician, favorite retail establishment), employee or stock investor and develop a PESTEL analysis that includes at least 5 factors in each category: political, economic, social, technological, environmental and legal. Conduct additional research as needed to support your points.Please verify solutions and provide income constraints for each question.
- What was wrong with Gianini's original analysis?Mikey W. Smitty, an emerging musician, is getting ready to cut his first CD. The cost of recording the CD is $3,000 but copies cost $2 apiece and the CDs can be sold for $17 each. He wishes to know how many CDs he needs to sell to break even and what his profit or loss will be if he happens to sell only 170 CDs. Set up the breakeven problem and be prepared to answer questions from the output. PROBLEM 1) How many CDs must be sold to break even? PROBLEM 1) What is the total revenue at the breakeven point? PROBLEM 1) How much profit / loss will there be if 170 CDs are sold? What is the minimum price Smitty should charge to guarantee he at least breaks even with the sale of 170 CDs?Profit maximization can be inferred from MR=MC since: please choose all the answers that are correct a marginal change in either direction will reduce profits, assuming diminishing marginal returns revenue = costs occurs at the breakeven point diminishing marginal returns suggest a parabolic trade-off If MR<MC then more output reduces profits If MR>MC more profit can be made by increasing output