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• in reply to: Important Assignment topics in marketing #15798

Keymaster

4P’s of Marketing
Consumer Behavior
Marketing Plan
SWOT Analysis
Strategic Marketing
Internet Marketing
Direct Marketing
Supply Chain Management

Keymaster

The new correlation coefficient should be the same: R=0.34

Keymaster

`1−(0.75)2=0.4375 or 43.75%`

Keymaster

`R2 = 1 - SSE / SST = 1-(0.139/3.008) = 95% `

Keymaster

For each additional year increase of husband’s age, we would expect the wife’s age to be 0.91 years higher, on average.

in reply to: Exploratory Data Analysis #15719

Keymaster
in reply to: Price Elasticity of demand #15671

Keymaster

Answer: (C) the percentage change in price exceeds the percentage change in quantity demanded of a good
Reason: the quantity demanded responds only slightly to changes in the price… or …% change in Quantity is less than % change in price and price Elasticity <1
For inelastic demand.

In this fig percentage change in price from P1 to P2 exceeds the percentage change in quantity demanded of a good from Q1 to Q2.

in reply to: Price Elasticity of demand #15666

Keymaster

Reason:

Elasticity=1.5,
% change in price = \$2.10- \$1.90/ \$2.10 * 100 = 9.5 %
% change in quantity = % change in price * Elasticity
= 0.095 * 1.5 = 0.143 or 14.3%

in reply to: Price Elasticity of demand #15661

Keymaster

Reason: Formula for price elasticity of demand is

Where Q1 is 1000 and Q2 is 1500 and P1 is \$1.50 and P2 is \$1.00
(1500 – 1000) / (1000 + 1500) = 500 / 2500 = 500 * 2.5 = 12500 = ed = 1.00
(1.00 – 1.50 ) / (1.50 + 1.00) .50 / 2.5 2500 * .50 12500

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in reply to: plus size leather corsets and ease the oil #15627